The Greek government has launched public consultations on a reform targeting the gambling black market.
The Ministry of National Economy and Finance of Greece has put forward a large-scale package of anti-piracy amendments for public discussion. The window for submitting proposals on the draft bill runs until June 15, 2026.
The reform radically expands the powers of the local regulator, EEEP. The Commission will gain the right to directly mandate internet service providers and banks to block illegal websites and restrict transactions. The sanctions will affect the entire chain: affiliate partners face fines of up to $58K (€50K) per violation for advertising gray bookmakers and casinos, while the organizers of underground online operations themselves face up to 10 years in prison.
According to estimates by Minister Kyriakos Pierrakakis, Greece’s shadow gambling market — with an annual turnover of up to $2.32B — deprives the state budget of $696M in taxes. Furthermore, EEEP data confirms that around 800,000 citizens (9.5% of the country’s population) use illegal services.
Offshore brands capture a third of the Greek iGaming market
By May 2026, offshore brands accounted for 31% of Greek search demand, while their CEB share reached 40%, or $75.19M against $113.8M for local operators.
Although the licensed sector currently maintains the lead — headed by domestic heavyweights Stoiximan ($560M CEB) and Novibet ($236M) — the shadow segment is showing aggressive expansion. While offshore brands accounted for just 3–6% of Blask Index throughout most of 2025, this figure spiked to 31–36% by the spring of 2026, and the monthly revenue of unlicensed operators jumped from $18M to $75M.
The primary driver of this hidden growth was the offshore operator NV Casino, which shot into the market’s top 4 with an annual revenue of $171M just a little over a year after its launch.
Market cleanup will strengthen positions of existing leaders
The new regulatory measures — ranging from website blocks to heavy fines for affiliate partners — are aimed at suppressing offshore demand, which suddenly surged in early 2026 from single-digit percentages to a third of all monthly search interest in Greece.
If the cleanup succeeds, licensed operators will be the main beneficiaries. Local heavyweights Stoiximan and Novibet (both controlled by the Allwyn holding) already hold the vast majority of the regulated market.
The public consultation will close on June 15, after which the bill will head to parliament for a vote. If the bill passes after the deadline, EEEP will gain direct blocking powers over ISPs and banks — tools aimed squarely at the offshore segment that reached 31% of search demand by May 2026.