So Long Recession, Spanish Gambling Leveled-Off

Published June 16, 2013 by OCR Editor

So Long Recession, Spanish Gambling Leveled-Off

There is light shining at the end of the tunnel as Spain's online gambling and sports betting revenue have reached zen.

Spain online gambling services have leveled off following a long-time economic recession that is still going on today. Unemployment in Spain is around a whopping 27 percent, but the Spanish government is convinced the worst is past and by the end of 2013, the country can expect growth due to the country's more competitive nature and growing number of exports. 

During the first quarter of 2013, the Spanish gross gaming revenues reached 60.4 million euro, down approximately 1 million euros from the final quarter of 2012.  Wagering, on the other hand, was up by a little more than 1 percent, reaching 1.37 billion euros.  "All the indicators which look forward in Spain point to recovery, and a much better economy that one year ago," related Economy Minister Mr. Luis de Guindos.

The predictions say that the Spanish online gambling market could skyrocket in the near future because in due course, online slots, a huge revenue maker in the industry will soon be allowed in Spain. With the addition of online slots to the Spanish market, the sky is the limit.

Now with the market liberalized, the market has leveled off. The first quarter of 2013 showed that new player acquisitions fell only 51,342 compared to the 4 th quarter of 2012 in which 72,453 was the magic number. 

It has been online sports bets which raked in over 50 percent of the markets gross gaming revenues, representing a minor increase over the prior quarter.  There has been talk that the Spanish Gambling Authority is discussing the possibility of a compact with Italy and France to increase player liquidity.

See also

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The Great Gambling Auction

Czech Republic Kicking Off 2017 with New Set of Gambling Laws

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