Greece Goes Gambling On New Years Eve

Filed in archive Gambling General on December 29, 2005

For most of us, there's something about freezing ourselves whilst watching the ball drop in Times Sq, New York, or crowding into Trafalgar Square in London. But the Greeks clearly have the best idea - they gamble on the night.

Many Greeks will be with their family or packing out the casinos, often playing the traditional game of '31' - a blackjack variation - in fact, over 9000 people regularly visit Casino Loutraki on December 31 - compared to an average 2500 customers

``Greeks believe they will have good luck in the new year if they manage to win something during the holiday period,'' Vassilis Neiadas, CEO of Opap, Europe's third-largest publicly traded gaming company, said Dec. 16 in his office in athens.

The Greek penchant for gambling on Dec. 31 may have its roots in another New Year's tradition: ``pita-cutting.'' During the holidays, families and companies gather to cut a cake and the person who finds a coin in his or her slice is said to enjoy good luck for the year.

And some useful Greek Gambling Figures:

> 6.2 billion euros ($7.4 billion) spent on gambling in 2004
> The Greek gambling industry grew 11 percent in 2003 and 18 percent in 2004
> Greeks spent an average of 550 euros ($655) each on legal forms of gambling

Article: Greece's New Year Gambling Tradition Bolsters Casinos' Earnings