(Newswire.net — January 26, 2022) — The Greek economy is expected to continue its recovery in the next few years. Given this, we expect gambling revenues to increase as citizens take advantage of improved economic conditions and adopt new technologies for entertainment purposes. With increasing affluence and an expanding middle class, consumers will have more disposable income at their disposal, which they will mostly spend on entertainment such as online gambling.
The Greek population is becoming more comfortable with the idea of gambling due to their exposure to international markets, where online gambling has been legalized. According to the latest reports by the European Gaming & Betting Association (EGBA), Greece’s gross win for 2016 was at €1.8 billion. We expect this number to reach €2.3 billion by 2022, an increase of 23%.
The trend towards the increased use of the internet for accessing entertainment content will continue to drive demand for gambling services in Greece. This is because digitalization has made it easier for consumers to access online content on their smartphones or laptops while remaining anonymous. As a result, they are more comfortable gambling online, with no need to leave their homes. This will be more pronounced in urban areas compared to remote regions that are less educated about these services and lack the infrastructure needed for them.
The exportation of Greek traditional games shows how technology can help preserve culture. The ancient game of Roupán is now played daily at casinos worldwide after its digitalization. Almost all the Roupán games are now played online, providing players with opportunities to win real money by playing against other players or using self-play modes.
The use of social media sites will grow among Greek citizens due to their affordability and advancement in terms of technology. Social media platforms such as Twitter and Facebook are now using hashtags to increase the awareness of online gambling among users. This will make it easier for brands and operators to promote their services with a limited budget, as they can reach a larger target audience by replying to tweets and commenting on Facebook posts.
We expect digital marketing strategies to establish themselves in Greece, particularly through search engine optimization (SEO), as these are effective ways for brands to reach out to new customers. According to the latest reports by Perfect Audience, SEO is currently underutilized in Greece compared to other countries.
Social media platforms will play a big role in increasing brand awareness due to their affordability and ability to reach large audiences. Operators will increasingly use these platforms to disseminate information about their services, while gradually shifting away from traditional advertising media such as television and radio.
Greek women will also become more receptive to gambling activities in the next decade. This is because they are spending more time online compared to other groups due to their involvement in social media and e-commerce activities. The comfortable use of the internet by Greek women will encourage them to gamble online.
The regulation of gambling services in Greece needs further improvement as loopholes still exist that allow operators to bypass certain rules and provide services illegally. This is due to a lack of coordination between government agencies as well as ambiguities with regard to the licensing process, making it more difficult for existing casinos and sportsbooks to secure a license. Operators will increasingly move their operations to less regulated jurisdictions if the situation doesn’t change.
So, we assume that the situation with gambling and online casinos and sportsbooks like Betsson will not change dramatically in Greece, as it seems that outside influence has a bigger effect on Greek gambling than domestic political changes. This doesn’t mean that new casinos won’t open in Greece, but the number of casinos will not increase by 2022.