Two New Operators to Enter Greece's Online Gaming Market
Following last year's rebirth of Greece's online gambling business, other operators have expressed interest. Two new operators are vying for a piece of the action, having just submitted applications for iGaming licenses.
Greece's online gaming business is reviving following a forced pause of ten years. Recent legislation has paved the way for new operator licenses, with a number of businesses already entering the field, including Flutter Entertainment's PokerStars.
This week, two new operators submitted applications for online gaming licenses. They are now being processed by the Gaming Supervision and Control Commission (EEEP, for its Greek name) and may be ready for launch in the near future.
Brobet Limited and Elladix Limited applied for Type 1 and Type 2 licenses, respectively. Type 1 licenses allow operators to offer sports betting, while Type 2 licenses allow operators to offer online casino games.
Brobet is a Malta-based firm with its headquarters in Bulgaria that operates the effbet betting brand. Elladix is also registered in Malta, but appears to be dormant.
Greece The iGaming Industry Expands
Online gambling has been one of the gaming industry's fastest expanding segments. Greece is prepared to capitalize on it, anticipating gross gaming income of up to €1 billion (US$1.05 billion) within two years.
The EEEP has continued to accept applications from firms seeking licenses from August 2021. It performs extensive checks of the firms' operations and finances prior to granting any applications.
Numerous businesses have discovered the appeal of the online gaming sector. Greece has emerged as a viable gambling market alternative, according to a 2021 assessment by gaming officials. Internet-based games, in instance, account for 77.55 percent of total revenue, while land-based games account for 22.45 percent.
Measures to Promote Responsible Gaming Coming
Greece's Gaming Supervision and Control Committee (EEOC, as it is abbreviated in Greek) has ambitious intentions to develop the country's gaming sector. It is establishing a 24-hour service to monitor and support the benefits of online gaming and traditional casinos.
The objective is to constantly monitor and promote all advantages associated with any issue in the gaming area. It will address those concerns and resolve them in real time. At the moment, online gambling companies submit monthly reports detailing their daily operations. This approach is ineffective in resolving significant faults or consumer complaints.
The EEOC will staff the facility with current EEOC employees. Additionally, it will include new staff that the EEEP can now hire.
Simultaneously, the committee's "electronic eye" competition is underway. This will be a sophisticated system that will monitor all electronic gaming providers licensed by the EEEP. This is comparable to an existing system for land-based casinos.
The EEEP will select a contractor through a competitive process before the end of the year. Following that, the operator can install the new system and give an internet link to all gambling providers' data.
Depending on the state of their licenses, regulated online betting organizations will be required to allow the EEOC to monitor their income and all transactions in real time.
This is accomplished by linking the EEEP to the information systems of the gambling platforms that will operate in Greece. Additionally, operators will be required to store their data in a digital environment in order to assist the effort.