Spain Online Gambling to Boom in Next 5 YearsPublished December 26, 2011 by OCR Editor
Following Denmark's lead, Spain now ready to implement e-gaming reforms.
Following the lead of Denmark, which will usher in a new era in online gambling on January 1, Spain is set to become the next European country to fully implement industry reforms. And with one of the biggest markets in Europe, some are predicting Spain's online gambling industry will boom.European Markets Liberalizing
Denmark is leading the way in Europe, after the country's gambling authority issues 55 licenses to 38 operators, who will all begin offering their services on January 1. Although nine Danish companies received licenses, the announcement was more notable for the fact that a majority of the licensees - including 888, PokerStars and Betfair - are from abroad.
Likewise, Spain has been heading down the path of liberalization for some time. In the new year, the government will begin to issue online gambling licenses to operators, and it is believed those operators will be able to begin operating shortly afterward. Spain's internet gambling reforms were approved by parliament earlier this year.Market to Grow to 680 mil. euros
After Germany, France and Italy, Spain's is the largest economy on the European continent, so it is no surprise that foreign operators are salivating at the prospect of getting a piece of the country's gambling market.
How much exactly is this market worth? According to a report just released by the Media and Entertainment Consulting Network (MECN), Spain's online gambling market will not only be a success, but will grow to be worth around 680 million euros by 2015.
The Spanish market has a high relevance for the industry, with 80% of major operators likely to apply for a license, the report said. It said conditions in Spain - where gambling taxes are a lot 25% of gross revenue - make it more attractive than France, and lead online gambling operators to believe a Spanish license will pay off eventually.
The report said another reason operators are putting Spain on top of the agenda is that the country is ready to start right now, whereas in Europe's largest potential gambling market - Germany - legislators are still divided over the issue and liberalization is being stalled.