Online Casinos - Greece | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$676.40m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.12%, resulting in a projected market volume of US$764.70m by 2028.
In the Online Casinos market, the number of users is expected to amount to 1.1m users by 2028.
User penetration will be 9.0% in 2024 and is expected to hit 10.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$737.50.
In global comparison, most revenue will be generated United States (US$7.64bn in 2024).
With a projected rate of 35.7%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in Greece has been experiencing significant growth in recent years, driven by changing customer preferences and favorable local special circumstances.

Customer preferences: Greek customers have shown a growing interest in online casinos due to the convenience and accessibility they offer. Online casinos provide a wide range of games, including popular options such as slots, poker, and roulette, which cater to the diverse preferences of Greek players. Additionally, the ability to play from the comfort of their own homes or on mobile devices allows players to enjoy their favorite games at any time and from anywhere.

Trends in the market: One of the major trends in the Greek online casinos market is the increasing popularity of live dealer games. These games provide a more immersive and interactive experience for players, as they can interact with real dealers and other players in real-time. This trend is driven by the desire for a more authentic casino experience, which is particularly appealing to Greek players who enjoy the social aspect of gambling. Another trend in the market is the growing adoption of mobile gambling. With the widespread use of smartphones and tablets, Greek players are increasingly opting to play casino games on their mobile devices. This trend is supported by the development of mobile-friendly casino platforms and the availability of dedicated mobile casino apps. The convenience and flexibility offered by mobile gambling have contributed to its popularity among Greek players.

Local special circumstances: Greece has a long history of gambling, with a strong cultural affinity for games of chance. This cultural background has created a favorable environment for the growth of the online casinos market. Additionally, the Greek government has implemented regulations that allow for the licensing and regulation of online casinos, providing a legal framework for operators to offer their services in the country. This has increased consumer confidence in the industry and has attracted reputable online casino operators to enter the Greek market.

Underlying macroeconomic factors: The growth of the online casinos market in Greece is also influenced by underlying macroeconomic factors. The country has experienced economic challenges in recent years, with high unemployment rates and a struggling economy. As a result, many Greeks have turned to online gambling as a form of entertainment and a potential source of income. The potential for winnings and the excitement of playing casino games have made online gambling an attractive option for those seeking to improve their financial situation. In conclusion, the Online Casinos market in Greece is developing due to changing customer preferences, including the desire for convenience and accessibility, as well as the popularity of live dealer games and mobile gambling. The favorable local special circumstances, such as the cultural affinity for gambling and the government regulations, have also contributed to the growth of the market. Additionally, the underlying macroeconomic factors, including economic challenges and the potential for financial gain, have further fueled the demand for online casino games in Greece.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.