Gross annual revenue for the online gambling industry in Spain continues to rise. Recent figures have shown a total of $678m last year and are expected to keep on increasing.
There has been a rapid increase in the number of online casinos that accept players from Spain and it’s believed the rise in gambling may be linked to recent changes in the Spanish tax policy. Another possible reason is that Spain is finally adopting gambling as something that is perfectly acceptable.
The figure of $678m, given by the Directorate General for the Regulation of Gambling, is a big increase on the $514m total for 2016. The gross revenue therefore increased by 31.9% showing an increase in the rate of growth, as it had only been 22.9% when comparing 2016 with 2015.
Sports Betting Popular
The final quarter of 2017 saw online gambling and sports betting generate $203m, an increase of 23.5% compared to the previous quarter, with sports betting being the most popular activity for gamblers in Spain and plenty of bets, no doubt, on Real Madrid and Barcelona.
When it comes to casino games, Roulette (including the live version of the game) accounted for 34.4% of total casino revenue and slot games 52%. Poker only saw its revenue grow by 5%.
Earlier this year the Spanish Government announced that they would be cutting taxes for most online gambling forms from 25% to 20%. It’s hoped that this will attract more licensed operators to the Spanish market.
Advisory and investment company, Ficom Leisure, predict the growth will continue and exceed one billion dollars. Betting on horse racing is predicted too be an area that will see further expansion and it’s hoped that the growth in the online gambling industry will help the gradual reduction in unemployment figures in the country.
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Steve Ashfield is a freelance writer who has a wide range of experience covering various aspects of the gambling industry. Over the years he has edited professional wrestling magazines, written horse racing tips, and covered news on a variety of different sports. Contact Steve at email@example.com.