The Online Gambling market in Greece has been experiencing steady growth in recent years, driven by changing customer preferences and favorable local circumstances.
Customer preferences: Greek consumers have shown a growing interest in online gambling, with a significant shift towards digital platforms. This can be attributed to the convenience and accessibility offered by online gambling websites and mobile applications. Additionally, the younger generation in Greece is more tech-savvy and comfortable with online transactions, further driving the demand for online gambling services.
Trends in the market: One of the key trends in the Greek online gambling market is the increasing popularity of sports betting. Greeks have a strong passion for sports, particularly football, and this enthusiasm translates into a high demand for sports betting services. Online gambling operators have capitalized on this trend by offering a wide range of sports betting options and competitive odds to attract Greek customers. Another trend in the market is the emergence of live dealer games. These games provide an immersive and interactive gambling experience, with real-time streaming of casino games. Greek consumers have shown a growing interest in live dealer games, as they offer a more authentic casino experience compared to traditional online casino games.
Local special circumstances: One of the key factors contributing to the growth of the online gambling market in Greece is the regulatory framework. The Greek government has implemented a licensing system for online gambling operators, ensuring a safe and regulated environment for consumers. This has instilled confidence among Greek customers, leading to an increase in online gambling activity. Furthermore, the economic crisis in Greece has also played a role in the growth of the online gambling market. With limited job opportunities and financial constraints, some Greek consumers see online gambling as a potential source of additional income. This has led to an increase in the number of people participating in online gambling activities.
Underlying macroeconomic factors: The Greek economy has been recovering from the financial crisis in recent years, with improvements in GDP growth and employment rates. This has had a positive impact on consumer spending power, allowing Greeks to allocate more disposable income towards recreational activities such as online gambling. Additionally, advancements in technology and internet infrastructure have made it easier for Greeks to access online gambling platforms. The widespread availability of high-speed internet and the proliferation of smartphones have contributed to the growth of the online gambling market in Greece. In conclusion, the Online Gambling market in Greece is experiencing growth due to changing customer preferences, including a shift towards online platforms and an increasing interest in sports betting and live dealer games. Favorable local circumstances, such as a regulated environment and economic factors, have also contributed to the market's development.
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.Modeling approach:
Market size is determined through a Top-Down approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global survey), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is reweighted for representativeness.
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