If you are a Greek player, then you are likely wondering why the options available are limited compared to those offered by foreign operators.
Since Greece's online gambling market size is projected at €1.3 billion in 2025, most Greek players still prefer foreign casinos instead of local ones. And the reason may lie in its economics, variety, and convenience.
📜 Greece only began granting permanent licenses for online gambling in 2021 after almost twenty years with no regulatory clarity.
But the regulations are so high that only the big operators can afford to pay to do so locally, and then we are more often left with less choice and poorer service.
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The €3 million question: why so few local options
This is where the licensing process in Greece becomes an issue for you as a player. Obtaining a Type 1 license for sportsbooks costs the operator €3 million in advance.
In the case of Type 2 licenses for online casino games and poker, this fee is reduced but still massive at €2 million, enormous by European criteria.
And that's still just the start. Operators will also be required to provide:
- A €500,000 security deposit
- A minimum paid-up capital of €200,000
- Physical presence in Greece
And then the killer blow: the 35% tax on gross gaming revenue, the highest in Europe.
Those fees are not deducted; they are simply handed over to you in the form of smaller bonuses, fewer games available, and lower odds.
Consider the example of Malta or Curaçao, where the licensing fee happens to be a very small percentage compared to the amount in Greece's conditions, and you can understand why online operators from abroad can offer you something better.
What you're missing: the foreign casino advantage
The difference speaks for itself if you think about what's offered. Game variety is the widest difference.
Whilst the Greek-licensed sites have minimal options, the worldwide sites have thousands of games from studios such as Playtech, NetEnt, NYX, and Microgaming, most of which create Greece-themed titles for the rest of Europe too.
🎁 The welcomes are no exception.
Offshore sites can provide high-end welcomes, frequent bonuses, and full VIP programs because they're not constrained by the 35% tax on gross revenue in Greece.
💳 Payment flexibility is also an attractive aspect.
Offshore sites have cryptocurrencies option, multiple-layered e-wallet support, and expedited withdrawal processing. Processing charges are seriously reduced, and processing is in hours instead of days.
👉🏻 But this is the best part:
The live dealer revolution storming European online gambling isn't quite yet sweeping Greek-licensed websites off their feet. Offshore sites specialise in providing rich, real-time gaming experiences that Greek players increasingly insist on.
The regulatory reality: your legal status
One can't help but ask if it's lawful to select offshore operators. Here's the truth:
⚖️ The Greek authorities take action against the unlicensed operators against the citizens of Greece and not against gamblers in person.
You are rarely prosecuted for playing at the offshore sites, though the sites are technically blocked or blacklisted. The Greek law only allows registered .gr sites to become operational in the nation legally.
Offshore sites can still be accessed due to the use of VPNs, and though in some other European nations with superior policing, Greece does let its gamblers put bets at dozens of foreign online bookmakers with sites in English and Greek.
The high penetration of foreign casinos on the Greek market represents a reflection of the regulatory gaps and the demand from gamblers for the kind of choices the existing licensing regime does not offer.
What follows here is a parallel market where you enjoy the choice of global operators, whilst too high a regulatory expense curtails local choices.
Economic factors driving your choices
Greece's economic woes have a bearing on your decision-making. In spite of elevated unemployment rates and economic uncertainty, the majority of the Greek players view online gambling more like some form of entertainment and secondary income.
⭐ The overseas operators value this trend and shape their offerings in response. You'll be treated to enhanced return-to-player percentages, increased promotional draws, and loyalty schemes to maximise your play, advantages that are priceless when your gambling budget is tight.
Your sporting identification by culture, and more specifically football, also dictates platform choice. Foreign sportsbooks possess broader markets, better odds, and streaming capabilities that Greek-licensed websites simply cannot match in terms of finances.
How Greece falls behind when it comes to technology and user experience
Another sector in which foreign operators are largely ahead is mobile gaming.
📱 Even whilst mobile and tablet devices are growing in usage among Greek punters, foreign sites have spent considerable money developing mobile-first experiences and proprietary apps.
UX deficit expands even to customer care, with international operators offering multilingual 24/7 customer care as opposed to limited support hours on domestic, small Greek-licensed platforms. Advanced security features, high-end user interfaces, and regular platform updates become the standard with international operators, but are high-end features locally.
The way forward: will things improve?
Greece's gaming sector is in the midst of a renaissance, with $270 million in fresh capital being invested in integrated resort plans.
The reforms in the regulatory environment in 2020 made the jurisdiction more appealing, and the Hellenic Gaming Commission keeps refining its style.
🏛️ Structural advantages remain, however. Short of the cost for licenses falling drastically or tax rates decreasing, you're still likely to be getting more value, more selection, and more experience from foreign operators.
Economic mathematics simply do not work out in favour of local operators competing with foreign offerings with the current regulation in effect.
Your choice, thus, is a savvy response to state-regulatory limitations, in favour of the state treasury over the player.
Until the licensing contract in Greece is completely on a par with European alternatives, the offshore casinos will be your choice alternative, and that's completely understandable in view of the current market realities.
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