Stakelogic Granted Official Greek Online Gambling License
Greek regulators have approved Stakelogic’s application for an official online gambling license after months of delays and deliberation. The process to gain permission to set up in Greece is long and arduous, and Stakelogic has been in contact with the country’s regulators for months now. While an official application sat unread for a prolonged period of time, Stakelogic spent months improving their service, and fixed a number of issues with the website and its security features. Now they’re looking forward to the future and the potential the service has in the Mediterranean sector.
Stakelogic has been granted an official gambling license, much to the delight of the board members and investors. This is a massive step in the right direction for the European online betting firm, and they’re set to expand the company to new heights after the deal went through. Stakelogic is now preparing a new domain for the Greek market to capture a significant portion of the existing user base. ©MustangJoe/Pixabay
Stakelogic has been a significant player in the European gambling market for years now. Since their founding in 2007, the company has gone from success to success as it managed to maneuver through difficult economic periods and prevail. The 2008 recession was an especially strenuous time for the company. Having just started, they were immediately tossed into the deep financial end. Despite the many challenges they faced, the online market in southern Europe kept them above water and prevented the company from dissolving in its first year.
Since then, Stakelogic has only improved, and many of the current user bases recognize and appreciate the economic hardships they faced during its inception. The respect the firm has from its peers is proven in the yearly award circuits where Stakelogic are frequently nominated for best online sportsbook of the year. Now that they’ve conquered most of the Mediterranean, Greece is one of the few nations they are yet to breach. The country has set up strict licensing policies since the pandemic, and it has been very difficult for new firms to enter the market.
Despite the initial bite back from Greek regulators, they have been generous in granting licenses in 2021. In July, they awarded nine official licenses in four days, much to the delight of the local government and media. These actions significantly improved the reputation of the country’s regulators, from strict gatekeepers to welcoming innovators. The change in attitude has also inspired numerous other countries to take action and welcome new sportsbooks into the market in an effort to encourage competition and increase economic activity.
However, after all the positives, Greece is still heavily involved in regulating the online gambling market. They have been increasingly cracking down on advertising and the freedom it once had. Recently, the government banned slot advertising from all platforms, which directly impacted the profitability of land-based casinos. After the pandemic, the casino industry has also taken a severe beating due to many forced closures with little to no notice beforehand. The Greek market is still recovering after the impact of COVID, but the future is bright after many sportsbooks have improved financially.
Greek Market set for Massive Expansion
Stakelogic is one of the most sought-after companies in all of Southern Europe. They have been producing high-tech software for the last decade and have one of the most well-funded research and development departments in Europe. They offer their service to many other online sportsbooks to raise capital and increase the profile of the business. Brand awareness is key to the company’s reputation and success, and to improve it, they have been working on a new social media campaign to increase the visibility of the service and increase the user base for the online sportsbook aspect of the business.
Having successfully traversed the European market for years, Stakelogic is confident that it can move into another market and adapt to the current economic climate with ease. They managed to conquer Malta with relative ease by outclassing the competition and providing a new and innovative service that local users had never seen before. Greece is a far more competitive market, and to stand out, they will need to provide top-notch service with updated security measures and data encryption to prevent any external sabotage.
