Soft2Bet, operator group and platform provider has recently been awarded a betting and gaming licence in Greece. The platform provider was granted two seven-year licences to operate its games in the Hellenic Republic. Soft2Bet’s General Counsel, David Yatom, spoke to Gambling Insider about the iGaming market in Greece and why it decided that was the next place it wanted to launch.
This news follows two more recent licences granted to the operator group in Denmark and Sweden earlier this year.
Why Greece?
The Greek market has been experiencing consistent and sustainable growth in the last several years. Regulation revisions opened up a previously limited market attracting increasing attention from numerous iGaming companies that seek to expand their worldwide presence. We have been monitoring the Greek market for some time now and pursued an opportunity to enter the country as soon as we felt ready. This is a strategic move, which not only underscores our potential but also solidifies our position on the European gambling map.
How much room is there for market share in iGaming in Greece?
In 2019, when the new legal framework in Greece was ratified, there were 24 existing online operators in the market. However, Greece invested in a package of laws aimed at bringing in more investors to the country. The new bill, dubbed, the ‘Gambling Reform Act’ expanded on previous laws and new set rules of taxation. It allowed transitional licence holders (the 24 existing operators) to offer RNG-powered casino games, as well as imposing new betting rules and limits, such as a three-second spin limit on slots and many other changes.
The recent political developments indicate that there might be grounds for a more business-friendly tax regime regarding online gambling operators
Currently, there are 17 operators licensed in the market, with Soft2Bet being one of them. The Greek state enterprise ОРАР has had a monopoly on the provision of online lottery services, until 2020, while Stoiximan dominates the market when it comes to the sphere of online casinos.
The recent political developments indicate that there might be grounds for a more business-friendly tax regime regarding online gambling operators. However, it is still an open question. A fact, however, is that there’s a strong demand among Greek players for top-quality gaming experience and since the market is no longer closed as it used to be, there will be more and more companies striving to satisfy this demand.
Soft2Bet stands out for its exceptional commitment to providing unparalleled gaming experiences. Our product boasts a diverse range of top-tier game providers, ensuring a comprehensive selection of games. Additionally, we take great pride in offering an impressive array of sports options to cater to all preferences. We hold ourselves to the highest standards, leaving no room for compromise, as we strive to deliver only the absolute best to our valued customers.
Where would you like to launch in the future?
Soft2Bet’s strategy very much asserts that the company will continue to expand in regulated markets in Europe. This expansion is the path to growth and the way forward for the company. We have plenty of expertise in navigating different markets as a trusted and compliant operator, and are committed to nurturing strong partnerships with regulatory bodies and creating a solid gaming experience for customers.
Each new market presents a unique opportunity to broaden our horizons by tapping into the preferences of a new customer base and adapting it to hold our signature high level of customer experience. We will reveal details about our expansion plans shortly – for now, I can only say that whatever comes next, we are focused on continuous growth and reinforcement of our strong position within the industry.
