Greece’s economy has registered an incredible collapse since the Greek Depression started in 2009. Thus, politicians agreed to encourage the development of other industries in order to generate enough revenue for a gradual economic growth and recovery. The gambling industry is among them
The Greek Organization of Football Prognostics (OPAP) is the single Greek operator that has the legal right to offer football and lottery betting services. OPAP is now the main beneficiary that produced €3,8 billion revenue which means a 64% win for this industry.
In 2014 the Greece Gambling Commission has shown a 9% economic growth of the gambling industry despite the continuous downfall over the past five years. The year 2014 produced €5,9 billion revenue. Gamblers are more interested in spending money on this industry. Thanks to this process the Greek economy will soon turn to normal and citizens will gain confidence in the gambling industry.
The revenue had doubled in 2014 according to the Gambling Commission. The gambling industry recorded approximately €525 million in taxes. Yanis Varoufakis, the Finance Minister of Greece, affirmed for the Eurogroup body of finance and economic politicians that Greece will soon legalize the online gambling industry too so that the OPAP will no longer monopolize the economy and the foreign online operators can contribute to the growth of the gambling industry especially for economic purposes.