Spain is quickly becoming a hotbed for growth in the European online gambling market, with impressive numbers highlighting the country's upward trajectory. According to the Directorate General for the Regulation of Gambling (DGOJ), Spain saw a significant increase in gross gambling revenue (GGR) in 2023, reaching €1.24 billion – up by 28.4% compared to the previous year.
The growth in Spain's online gambling market has been steady over the years, with GGR rising consistently since 2013, except for a slight dip in 2021. The 28.4% increase in 2023 marks the largest year-on-year rise since 2017, showcasing the country's potential for further expansion.
The casino sector led the charge in revenue generation, accounting for 50.5% of the total GGR in 2023 at €624.8 million. Betting wasn't far behind, making up 39.8% with €491.8 million in GGR. Poker, bingo, and contests also contributed to the overall revenue, albeit to a lesser extent.
A closer look at the numbers reveals that the growth in the casino sector was largely driven by slots, which saw a significant increase in revenue. In the betting sector, in-play sports bets and other fixed-odds betting played a key role in boosting revenue by 48.7% and 191.9% respectively.
Despite increased regulation and tightening restrictions on marketing activities, Spain saw a 7.6% increase in marketing expenditure in 2023, reaching €402.8 million for the year. The growth was fueled by a surge in sponsorship deals, affiliate marketing, advertising, and promotions.
The Spanish government's efforts to enhance responsible gambling measures have led to various industry challenges and debates. The push for tighter regulations, including restrictions on advertising and sponsorship deals, aims to protect vulnerable players and promote responsible gambling practices.
As Spain continues to solidify its position as a thriving online gambling market, operators and regulators will need to navigate these evolving regulatory landscapes to ensure a safe and sustainable gaming environment for all players.
Chevron Group offers a full range of compliance-related services, including
- Compliance advice and consulting
- Training
- Provision of key personnel & regulatory representation and
- Internal audit services
For business ventures dedicated to the Spanish igaming market.
Interested in more insights into Spain and other prospering igaming jurisdictions and how to approach compliance challenges with a business mind? Speak to Lawrence Marchese (lawrence@chevron.group), Kurt Laferla (kurt@chevron.group), Ursula Bessa Marinho (ursula@chevron.group) and Thees Buschmann (thees@chevron.group) from Chevron Group.
Quelle: Chevron Consultants e.K.