Superbet to Invest 500 Million Euros in Greece Over Six Years

Superbet plans to invest around 500 million euros (561 million dollars) over the next six years to expand in the regulated Greek betting market. According to local press, the company told journalists on Thursday that the money will go to sports sponsorships, technology, staff training and marketing.

Giannis Kalambokis, general manager of Superbet Greece, said the company has been operating in Greece for seven months and is facing a market with mature players and high expectations. The company's strategy is built on improving the experience of its existing customers and winning their trust.

Superbet estimates its share of the Greek betting market at about 7 percent. The company reported betting volume of 270 million euros in October. These figures represent betting amounts, not revenue. Management aims to reach first place within six years. Kalambokis argued that sponsorships are the best way to enter the market quickly and directly.

The executive also said that online betting in Greece is growing by 10 to 12 percent a year, while illegal betting remains an ongoing problem. Kalambokis said that, based on a study, the illegal market is at the level of 800 million euros. Superbet's entry into Greece follows its acquisition of MaxBet. That purchase strengthened the company's presence in Romania, Serbia and Malta.