BUSINESS

Greeks embracing the online gambling bug

TAGs: greece, OPAP

greeks-embracing-online-gambling-bugAs far as last year goes, Greece would rather forget it as if it were a tropical disease they picked up. Unfortunately, like diseases, they can come back to haunt you a great deal, and after a bailout for their economy, it’s very likely that this could be a ghoulish issue for some time yet.

Thankfully, reports last month seem to put the Greek government in the online gambling industry ballpark. As we reported in December, the administration are hoping that the money generated will help them to meet revenue collection targets set after the IMF bailout earlier in 2010. Research released by an Athens university will be music to the ears of those in Greece.

According to Kathimerini, the population are becoming increasingly enamoured to online gambling, almost a third having used it at least once in 2010 as indicated in recent research by the Athens University of Economics and Business (AUEB).

The research suggests that over one in 10 (12%) visit one of the 250 sites available to Greek customers, and with the online gambling industry thought to be worth as much as €300million it’s little wonder the government want a piece. Earlier research published in Kathimerini already suggests that the industry has taken a significant chunk of the land based casino industry and OPAP’s profits’, meaning the move is far from surprising.

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