When one thinks about online gambling the first thing that comes to mind are the United States, Australia, and China. For the simple reason, they are the world’s most prominent gambling markets.
The question is how does Spain stack up against these countries? Online gambling is a legal activity for many Spanish citizens. And, Spain’s gambling industry continues to grow at a steady pace. It recorded a strong performance in the past quarter. It’s estimated that the Spanish gamble approximately €1.9 billion every year
As a matter of fact, in 2020, Spain’s gambling market indicated double-digit growth for the first quarter. Despite the Covid-19 crisis and the current global economic recession. The global online gambling market will grow by an estimated $66.7 billion at the end of 2020. Therefore, a growth rate of 13.2%. Thanks to Spain’s Gambling Act – Act No. 13/2011 which ensures safe and responsible gambling on a national level.
In stark contrast to the Covid-19 pandemic, the USA online casino market grew by 11.5%. Experts put this down to the fact that many people are at home and have more time to play their favorite casino games.
Since 2012, more than 70 online casino operators received licenses to operate in Spain. However, more than 50% of Spain’s betting market engages in sports betting.
Spain’s Dirección General de Ordenación del Juego (DGOJ) said that its licensed online casinos generated revenue of around €78m up and till March 31. That’s a 12.5% increase from last year and 17.6% better than the final quarter of 2019.
Although sports betting still remains right at the top. Spain’s casino revenue is up by €77.6m while its online slots revenue jumped to €43.2m, an increase of 15.7%. Table games like live roulette indicate a steady growth as well and up by more than 35.6%.
Poker revenue for the same period is up by 13.1% at €24.2. On the whole, casino, poker, and bingo indicate steady growth.
Another interesting thing about Spain’s gambling market is that licensed online casinos spend more money on advertising. Affiliate marketing is up by 1% to more than €10. Moreover, if Spain reduces the licenses for online casinos, the growth will even be more significant. One of the main reasons why Spain’s online gambling market is on the up is that it aligns its policies with the EU’s proposals.
Since the State controls gambling activities, it compels its licensed operators to impose strong responsible gambling policies. Gamblers under the age of 18 cannot register accounts at Spain’s online casinos. In addition, filtering software prevents minors from gambling online.
While the United States still ranks as the world’s foremost online gambling market. Spain’s gambling market is equally impressive although it will never be the same size. We put this down to strong regulation. For example, acquisition bonuses are capped at €100 and licensed casinos must not market their products as the path to winning. Because of the Covid-19 article 37, the Royal Decree-Law 11/2020 clamps down on gambling advertising.
Spain’s 200-year-old lottery, El Gordo (the fat one), or the Spanish Christmas lottery is the biggest in the world.
Also, mobile gambling’s growth continues to dazzle because Spain’s licensed online casinos cater to a new generation of mobile casino gamblers. It takes less than 5 minutes to register an account and gamblers can place their bets from anywhere.
Another factor to consider is cryptocurrencies like Bitcoin. As Bitcoin becomes more mainstream in Spain, there will be another surge in gambling profits. For the simple reason, licensed casino operators can settle BTC payments in less than 10 minutes.
Despite the Covid-19 clamp down, it’s evident that Spain’s gambling market is growing at a steady pace. But, more importantly, it compares well to that of the rest of the world’s, especially the US’ gambling market.