Superbet Plans €500m Greek Investment as Regulated Market Passes €2bn in Revenue

^{An OPAP betting shop in Greece. Superbet, a newcomer to the regulated market, says it plans to invest about €500m over six years. (Photo: NikosLikomitros / Wikimedia Commons)}

Superbet plans to invest about €500 million in Greece over the next six years, as the operator sets its sights on becoming the country's leading betting brand. The plan, outlined by Superbet Greece general manager Giannis Kalambokis at a briefing with reporters on 5 November, covers the period from 2026 to 2032.

The announcement lands as official data shows Greece's regulated gambling market growing, with online play leading. Superbet launched in the country about seven months ago.

Where the Money Goes

Kalambokis said the spending will focus mainly on sports sponsorships, alongside adapting products and technology to the Greek market, staff training and corporate communications. He described Greece as a market with a high level of betting maturity and equally high expectations.

"We believe that the way to enter quickly and directly and show who we are in the Greek market is through sports and sponsorships," Kalambokis told reporters, according to Greek and trade press coverage of the briefing. He said the company wants to be first in players' preferences within six years.

Superbet says it already holds about 7% of the Greek betting market by gross revenue and recorded turnover of €270 million in October, against total monthly market turnover of €3.2 billion.

Those figures refer to wagers rather than net revenue. Kalambokis said the company is pursuing an aggressive commercial strategy, with more emphasis on the experience of existing customers and on building trust.

A Market Still Growing

Data from the Hellenic Gaming Commission (HGC), published in late October and reported by Greek business media, shows gross gaming revenue rose 4.2% to €2.06 billion in the first eight months of 2026, from €1.98 billion a year earlier. Stakes rose 10.4% to €11.69 billion.

Online operators drove the growth. Their stakes climbed 17.4% to €5.65 billion, and gross gaming revenue rose 13.1% to €853.7 million from €754.6 million. OPAP, the incumbent's retail and VLT arm, reported gross gaming revenue of €962.5 million, down 1.2%, while its online casino business has been a growth driver.

Casinos also grew, with gross gaming revenue up 3.7% to €182.6 million. Lotteries moved the other way, falling 16% to €58.3 million. Player tax revenue rose 27.3% to €369 million, and total state revenue from taxes and fees reached €484 million, up 7.9%.

Regulator and Land-Based Pipeline

The HGC is still building capacity as the market matures, having recently opened 40 inspector posts to public sector staff. On the land-based side, two Athens casino resorts are moving ahead as part of a €2.1 billion expansion.

Superbet's pledge puts a large marketing budget behind a market it entered only seven months ago. With online growth outpacing the rest of the market, the competition for Greek players, and for sports sponsorship deals, looks set to intensify.