Greek Race Wagering

Pari-mutuel betting includes both live racing and offtrack betting. Currently the Greek betting industry is operated by two government-controlled companies: Greek Organization of Football Prognostics (OPAP) and the Greek Horse Racing Organization (ODIE).

ODIE is a Greek horse racing company with exclusive rights on mutuel betting at racetracks. Greece holds 100% of ODIE’s stake.

In 2003 ODIE was relocated to Markopoulo Attikis, in newly established facilities designed to serve the 2004 Athens Olympic Games. To finance its relocation and the establishment of the new facilities, ODIE borrowed EUR 210 million in the form of a long-term facility guaranteed by the Greek Republic. Since then, the company has been fighting serious losses due to the service of its debt and the decrease of its customer base.

As part of the HRADF’s mission of selling Greek assets, in March 2013, it announced an international open bid for the award of exclusive rights to organize and conduct mutuel betting on horse races in Greece for a period of 20 years. In 2015, OPIE was sold to a subsidiary of OPAP.