OneTwenty Group: Spain Offers European Online Gambling Sector Growth
October 25, 2024

OneTwenty Group: Spain Offers European Online Gambling Sector Growth

OneTwenty Group’s Steve McQuillan provides an analysis of the online gambling market in Spain and notes how the sector continues to grow. The affiliate marketing company’s site Compare.bet is live in the Spanish market, offering online odds and casino comparison for Spanish consumers.

Spanish Economy Minister Carlos Cuerpo revealed on Tuesday, September 24th, 2024, that the country’s GDP is expected to expand by 2.4% in 2025 and 2.2% in 2026, surpassing the growth rates of its eurozone counterparts. This move will boost the country’s growing economy to even newer heights in the coming year. 

A projected increase in private consumption and investment primarily drives this upward revision of the forecasts. Minister Cuerpo emphasised these factors’ positive impact on Spain’s overall economic health, further solidifying its position as a leading economy in the region.

One other major player in Spain’s economy is the gambling market. The Directorate General for the Regulation of Gambling (DGOJ) has unveiled the financial performance of Spain’s online gambling market for the second quarter of 2024. The market demonstrated robust growth, with gross gaming revenue (GGR) reaching €346.3 million ($386.5 million), a 10.79% increase compared to last year.

Casino games reigned supreme, capturing the largest share of GGR at 49.57%, followed closely by betting at 42%. Poker accounted for 7.38%, while bingo held a smaller 1.04% share. Both casino and betting segments experienced significant increases in revenue growth, while poker saw a slight decline.

Total turnover for the quarter reached €8.26 billion, a 7.76% rise year-over-year. Casino games contributed the most to this figure, followed by betting. The betting segment, in particular, witnessed impressive growth of 10.73%.

The number of active accounts and gamblers continued to expand. Active accounts surged 23.65% to 1,401,634, while active gamblers increased by 22.11% to 942,805. New account registrations also saw a substantial rise of 46.57%, reaching 150,677. However, new gamblers declined slightly by 5.15% to 47,826.

The rapid expansion of internet access in Spain has been a significant driver of the growth in online gambling. As more people gain access to the internet, they are more likely to explore new online activities, including gambling. 

According to Statista, internet penetration in Spain has steadily increased, reaching 96.45% in December 2023, and is expected to reach a whopping 98% in 2029.  With a large percentage of the population now having access to the Internet, it is a prime market for online services, including gambling.

The growing availability of smartphones and other mobile devices has also contributed to the rise of mobile internet usage, making it easier for people to access online gambling services.

Spain’s regulatory framework for online gambling has also significantly shaped the market’s growth and development. The Directorate General for the Regulation of Gambling (DGOJ) is the primary regulatory body overseeing the online gambling industry in Spain. 

The DGOJ has implemented a licensing regime that requires operators to obtain a license to offer online gambling services within the country. This licensing process involves a series of checks and requirements to ensure that operators meet specific standards of integrity, financial solvency, and technical competence.

The regulatory framework also includes measures to protect consumers, such as:

  • Responsible Gambling Policies: Operators must implement accountable gambling policies and provide tools and resources to help players manage their gambling behavior.
  • Advertising Restrictions: There are restrictions on advertising and marketing activities to protect vulnerable individuals and prevent underage gambling.
  • Dispute Resolution: The DGOJ provides a mechanism for resolving disputes between players and operators.

By establishing a clear and transparent regulatory framework, Spain has created a conducive environment for the growth of the online gambling industry while ensuring that operators adhere to responsible gambling practices and protect consumers’ interests.

The changing demographics of Spain have also contributed to the growth of the online gambling market. The younger generation, which is more digitally savvy and comfortable with technology, is more likely to engage in online activities, including gambling.

As younger generations become a more significant segment of the population, their preferences and behaviours will increasingly shape the market. In fact, according to Global News, Hispanic youths are more likely to use the internet than most. Their familiarity with technology and digital platforms makes them more likely to adopt new online services, including online gambling.

Additionally, the younger generation may have different attitudes and preferences towards gambling compared to older generations, which could influence the types of games and services offered by online gambling operators.

Changing social attitudes towards gambling have also played a role in the increased acceptance and popularity of online gambling in Spain. In the past, gambling was often viewed with suspicion or disapproval. However, in recent years, there has been a shift towards a more relaxed and accepting attitude towards gambling.

Several factors have contributed to this change in social attitudes:

  • Normalisation: Gambling has become more normalised in popular culture, with references to gambling appearing in movies, television shows, and other forms of media.
  • Celebrity Endorsements: Celebrities and athletes often endorse gambling brands, which can help to legitimise and popularise gambling activities.
  • Sports Betting: The legalisation and promotion of sports betting have also contributed to the increased acceptance of gambling. Sports betting is often seen as a more socially acceptable form of gambling, as it is associated with sports and entertainment.

As social attitudes towards gambling become more accepting, the online gambling market will likely continue to grow and evolve. However, it is essential to ensure that this growth is accompanied by responsible gambling practices and measures to prevent addiction.

Spain’s economy demonstrates remarkable resilience and growth, driven by increased private consumption and investment. The government’s optimistic forecast for GDP growth in the coming years reflects the country’s strong economic performance and ability to navigate global challenges.

Furthermore, the online gambling market in Spain is experiencing substantial growth, fuelled by factors such as increased internet penetration, favourable regulatory frameworks, and changing social attitudes. 

This is the main reason that we have moved into this market to ensure people find trusted and secure providers. At OneTwenty Group, we have our Compare.bet brand and have recently launched a Spanish online casino version of the comparison site. Compare.bet is one of the leading online casino and sports betting comparison and review sites in the UK, and we are going to be bringing this level of expertise to the Spanish market to ensure players can find fair and responsible platforms to play at an online casino.

However, it is crucial to address the potential risks associated with gambling and ensure that responsible gambling practices are prioritised. By balancing economic growth and social well-being, Spain can continue positioning itself as a leading European economy.

 

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