Sports betting operator Superbet has announced plans to invest approximately €500 million ($561 million) in Greece over the next six years as it looks to strengthen its position in the country’s regulated gambling market.
The investment programme will cover several areas, including technology development, employee training, marketing and sports sponsorships. The company intends to use the funding to improve its local offering, expand brand recognition and establish itself as one of Greece’s leading betting operators.
Speaking to reporters on 5 November, Giannis Kalambokis, general manager of Superbet Greece, outlined the company’s long-term ambitions and highlighted the potential of the local market.
Superbet has been operating in Greece for seven months and estimates that it currently accounts for approximately 7% of the country’s betting stakes. The company also reported €270 million in turnover during October, a figure representing the total value of wagers rather than net revenue.
Superbet Targets the Top Position in Greece
The operator’s investment strategy is closely linked to its ambition to become the country’s leading betting brand within six years.
We want to be the first choice among Greek players by the end of this period. The local audience is mature, with high expectations and demanding a strong overall betting experience.
Giannis Kalambokis, General Manager at Superbet Greece
As a result, Superbet’s approach focuses not only on acquiring new customers but also on improving relationships with existing players and building long-term trust.
Technology will be one of the main areas receiving investment, with the operator planning to adapt its products and services to the preferences of the Greek market. Staff development and training will also form part of the programme as the company expands its local operations.
Sports sponsorships are another important element of the strategy. Kalambokis described partnerships with sporting organisations as an effective way to establish a direct connection with local audiences and introduce the brand to the market.
The company’s initial entry into Greece followed a similar approach, combining sports competitions with community engagement. Adam Lamentowicz, Superbet’s chief commercial officer for Central and Eastern Europe, previously described the expansion as a long-term commitment to building an entertainment ecosystem around sporting interests.
The Greek expansion also follows Superbet’s acquisition of MaxBet, which strengthened its presence in Romania, Serbia and Malta.
Illegal Gambling Remains a Major Market Challenge
Alongside its growth ambitions, Superbet has identified unlicensed gambling as one of the key challenges facing the Greek betting industry.
Company executives estimate that online betting in Greece is expanding by approximately 10% to 12% annually. However, a substantial share of gambling activity remains outside the regulated market. Kalambokis cited research estimating the value of Greece’s illegal gambling market at around €800 million.
Regulatory figures also highlight the scale of the issue. In 2025, the Hellenic Gaming Commission (EEEP) increased the number of blocked gambling domains from 9,590 in 2024 to 12,642. The regulator also received 586 reports from whistleblowers during the year.
The financial impact extends beyond operators competing with unlicensed platforms. In March 2026, the Greek government estimated that illegal gambling activities had cost the state approximately €400 million in lost revenue during 2025.
Superbet’s planned investment comes as the regulated market continues to expand while authorities face pressure to address offshore and unauthorised gambling activity.
With €500 million allocated over six years, the operator is positioning Greece as a major growth market. Its strategy combines product localisation, technology, workforce development and sports partnerships, with the ultimate objective of securing the leading position in the country’s competitive betting sector.
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