Greece: H2 2025 Performance Analysis

In the second half of 2025, Greece became the fastest-growing online gambling market in Europe. According to Blask, iGaming demand grew by more than 50% between June and December—against the backdrop of slowing growth across most European jurisdictions.

Market Scale

🔵 iGaming demand growth: +50% in H2 2025 (June-December)

🔵 Highest growth rate among European markets (Blask)

🔵 Online segment GGR: € 1.349 billion in H1 2024 (+8% YoY)

Demand Structure and Audience

🔴 Population: 10 million, internet users: 9 million

🔴 63% of players aged 18−34

🔴 Lotteries — 60% of users

🔴 Sports betting — 45%

🔴 Online casino — 30%

🔴 Slots and instant-win games — 25%

Growth Drivers

🔵 Dense sports calendar with no “quiet weeks” from late August through autumn

🔵 No sharp drop-offs in activity after individual tournaments

🔵 Increase in betting limits for RNG games from € 2 to € 20

🔵 Conversion of sports traffic into casino play delivered double-digit iGaming growth

Infrastructure and Activity Redistribution

🔴 Around 11,000 illegal gambling domains blocked in December

🔴 Estimated illegal market size: € 1.7 billion (2023)

🔴 Pressure on the illegal segment reshapes demand flows but does not eliminate them

🔴 Adoption of IRIS instant payments reduced deposit friction and improved conversion

Model Constraints

🔵 35% GGR tax

🔵 Total tax burden of up to 60%

🔵 Sustained pressure on margins for licensed operators

Conclusion

iGaming growth in Greece in the second half of 2025 is structural in nature. It is driven by a combination of sustained sports demand, expansion of the casino segment, and market-infrastructure changes—from payments to regulatory enforcement. Against a backdrop of stagnating European markets, Greece demonstrates how demand redistribution and retention can fuel growth without the emergence of a new audience.