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Renowned as the birthplace of the Olympic Games, Greece has a deep-rooted love for sports, making it no wonder that sports betting enjoys immense popularity among its residents. With a rich sporting heritage and a fervent interest in athletic competitions, the nation offers a plethora of options when it comes to the best betting sites in Greece

In this comprehensive guide, we delve into the world of online sports betting, providing the top 10 betting sites Greece and valuable insights into the top choices available to the Greek public and shedding light on the exciting landscape of sports wagering in this historic land.

Country Greece
Language Greek
Currency Euro
Popular sports Tennis, e-Sports, basketball, football
Regulator Hellenic Gaming Commission
Taxes 15%
Payment methods Visa, Mastercard, Maestro, PayPal, Neteller, Skrill, Paysafecard, Viva Wallet

1. The Status of Online Betting in Greece

While Greece is celebrated for its early contributions to democracy, it's worth noting that the Greeks were pioneers in betting, dating back to the ancient Olympic Games, which commenced during the Bronze Age. This rich history of betting has endured and remains intertwined with Greek culture and sports to this day.

In more recent times, Greece has been actively shaping its betting market. However, there was a period when the local government had reservations about gambling and betting, leading to a comprehensive ban on all such activities in 2002. Fortunately, in 2011, a new law was enacted, ushering in a more permissive era for gambling and betting within the country.

The appeal of sports betting in Greece has been further bolstered by the success of Greek athletes on the global stage, marking a resurgence in the nation's sporting prowess.

The Greeks were pioneers in betting, dating back to the ancient Olympic Games, which commenced during the Bronze Age (Source: Freepik)

In the past year, Greece's gross gambling revenue (GGR) soared to €1.9 billion, with a notable 39% generated from online activities. Looking ahead, the online gambling market is projected to reach €1 billion by 2024.

It's essential to note that there is a monopoly in the Greek betting landscape, primarily controlled by the Organization of Football Prognosis. This situation has led many Greeks to seek out international bookmakers without local licenses in pursuit of better benefits and more diverse betting options.

As Greece's betting scene continues to evolve, it's clear that the historical tradition of wagering is alive and well, adapting to the modern era and offering exciting opportunities for both enthusiasts and bettors.

Interesting Facts about Sports Betting in Greece:

  • Greek bettors overwhelmingly favor online bookmakers due to their convenience and accessibility.
  • In Greece, winnings between €100 and €500 are subject to a 15% tax, while those exceeding this range incur a 20% tax.
  • Most bookmakers in Greece are owned by OPAP, a major player in the Greek sports betting scene.
  • The legal age for sports betting in Greece is 23, relatively higher than in many other countries.
  • Football and basketball are the darlings of Greek sports betting, with enthusiasts wagering on national leagues and teams, adding an extra layer of excitement to the games.
  • Sports betting winnings are capped at a maximum of €500,000 in Greece.The euro (€) is widely accepted by all bookmakers operating in Greece, ensuring ease of transactions for bettors in the country.

2. Online Betting Law in Greece

The online betting landscape in Greece has experienced a series of regulatory changes in recent years, creating a dynamic and evolving environment for both operators and bettors.

2.1. A Rollercoaster of Gambling Laws

Greek gamblers have experienced a turbulent journey through changing gambling laws in recent years. To put it succinctly, online gambling is now legal in Greece, but with a caveat – operators must secure a license from the Hellenic Gaming Commission (HGC). This licensing system was introduced in late 2020 with the primary goal of bringing order to a previously chaotic market.

2.2. The Opposition to Online Gambling

Before this era of regulation, Greek authorities had long been opposed to online gambling. During the early 2000s, a sweeping ban on all forms of electronic gaming was in place, an extraordinary measure that even extended to activities like playing computer games such as chess and backgammon in public spaces.

In 2012, online gambling was officially legalized, leading to the issuance of interim licenses to a group of international bookmakers. Nevertheless, the drama continued as the Greek government attempted to establish a monopoly on online gambling through the state-owned company OPAP A.E.

2.3. EU Intervention and New Regulations

Following numerous legal battles, the European Union (EU) deemed this monopoly illegal, paving the way for the gambling regulations that are in effect today.

The online betting landscape in Greece has experienced a series of regulatory changes in recent years (Source: Freepik)

2.4. The Downside of New Regulations

While the new regulations offer clarity, they come with significant drawbacks. These include a substantial 35% tax on all gaming revenue, a €2 maximum stake limit for casino games that use a Random Number Generator (RNG), and low maximum winning caps.

RNG games are subject to a three-second spin limit, requiring players to wait before starting a new game cycle, except in the case of poker.

2.5. The Hellenic Gaming Commission's Vigilance

The Hellenic Gaming Commission takes its responsibilities seriously, maintaining a "Blacklist" on its website that features 4,416 bookmakers prohibited from offering their services in Greece.

2.6. Resilience of Major Players

Despite these restrictions, major names like Bwin and Sportingbet continue to operate in the country. However, it's worth noting that most Greek bookies do not offer welcome bonuses or generous betting promotions. 

The regulatory journey in Greece has certainly been a tumultuous one, with a complex history of opposition, legal battles, and evolving regulations shaping the current landscape of online betting in the country.

3. Best Payment Methods for Bettor in Greece

Top betting sites in Greece understand the importance of offering a variety of payment methods to suit the needs of their customers. Most Greek betting sites offer a diverse range of convenient options for both depositing and withdrawing funds. 

Top betting sites in Greece understand the importance of offering a variety of payment methods to suit the needs of their customers (Source: Freepik)

These typically include major bank cards like Visa, Mastercard, and Maestro, as well as popular e-wallets like PayPal, Neteller, and Skrill. While some sites even allow cryptocurrency deposits, many accept bank transfers, though these may not be instant.

It's worth noting that most platforms require withdrawals to use the same method as the initial deposit.

With Greece's adoption of the euro (EUR) in 2002, almost all betting sites readily accept EUR as the currency for betting. This eliminates the need for punters to convert their money before playing, offering immediate and hassle-free access to their favorite games.

Method Name Deposit Speed Withdrawal Speed
Visa Instant to 24 hrs 2 - 5 business days
Mastercard Instant to 24 hrs 2 - 5 business days
Maestro Instant to 24 hrs 2 - 5 business days
PayPal Instant 24 - 48 hrs
Neteller Instant 24 - 48 hrs
Skrill Instant 24 - 48 hrs
Paysafecard Instant Not Available
Viva Wallet Instant 24 - 48 hrs

The world of online betting sites in Greece offers a myriad of opportunities for both seasoned bettors and newcomers to the scene. With a range of reputable betting sites Greece has to offer, Greek gambling enthusiasts can access a diverse selection of markets, competitive odds, and a seamless betting experience.

These Greek gambling sites provide a safe and regulated environment for wagering on sports, casino games, and more. Stay informed, bet responsibly, and enjoy the thrill of gaming at these top-rated Greek gambling sites.

Author Guarantor: Pimploy Sinakorn
Mentor
Created: 26/10/2023
Last updated: 29/01/2024
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