An in-depth guide on Spain Gambling markets.
Spain has a history of being a culture that embraces sun, sea and sand, the perfect environment for leisure pursuits in Southern Spain.
The country has a penchant for gambling that goes back over 700 years. The first evidence came through a card game called primero as early as the 13th century.
If ever there was a place for a punter, the “land of sunshine” would be one of the most popular.
It took until the millennium to pass regulatory laws that make it far more accessible and legal across the country.
Spain is also a tech-savvy nation with an advanced infrastructure that is perfect for the rise in online gaming.
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Importance of the 2011 Spanish Gambling Act
One of the most important pieces of legislation for online wagers was the 2011 Spanish Gambling Act.
Online casinos had become huge internationally and a special Commission was formed to work out the best way to regulate the domestic market.
The 2011 Act formed the structure of a universal approach, legalising digital gambling. Sports betting had been legalised two decades earlier, in 1990.
The Rise of Online Gambling
Online gambling has grown in popularity worldwide in recent years, including in Spain.
Countries such as the US have relaxed gambling laws, and more states are legalizing the use of online casinos.
Most major online casinos operating in the US will check geolocations of players to ensure they are in an eligible location and complying with the US law. You can find out more and know what is player location check here.
The gambling laws in Spain have become more relaxed recently too. Before the rigorous legislation was passed in the country, Spaniards were playing on unlicensed foreign sites.
Now that they have more secure domestic options, gambling income in Spain has reached over one billion by 2022. The online gambling market has grown almost 300 per cent in the last decade.
Growth Of the Huge Sports Betting Market in Spain
The sports market is undergoing a huge surge in growth within the country. The increase in digital casinos has really triggered the market in all kinds of wagers from football to horse racing.
Sports betting dominates the online market with almost 40 per cent of the population having a bet on something.
Spain has a great heritage in sport and are the current European football champions. The famous rivalry between Barcelona and Real Madrid has a star quality, attracting huge crowds with many placing bets on results and player stats.
The Premier League is also very much in the spotlight alongside the Champions League, the crown jewel of European club competition, which Madrid has dominated for over a decade now.
Basketball is another booming business in terms of crowds and betting markets.
The Famous Spanish Christmas Lottery – Largest Prize in the World
One of the most popular forms of betting in Spain for all-comers is the Spanish Christmas Lottery.
It is the largest lottery draw in the world, with a jackpot of almost £3 billion. Based on the total prize money involved, this first prize is thought to be the world’s largest.
Land Casinos Still Very Popular With Locals and Tourists
Land-based gambling venues are subject to regional and national regulations, with 17 independent regions overseeing their territory.
Although land casinos initially pushed back against the rise of their digital competitors, Spain still has a huge audience for physical venues. The locals and international travellers hit the big casinos in places like Madrid with regularity.
The striking Casino Gran Madrid offers all the games that online operators provide, but also have a special ambience that attracts thousands of visitors.
There are restaurants with Spanish and international cuisine, special shows, and bars to add to the all-round entertainment. The nightlife in Spain means that land casinos still thrive and there are over 50 across the territory.
Lower Taxes Means More Business For iGaming Operators
Some more specific parts of the law states that all winnings are income and therefore subject to a tax.
However, in recent times the Spanish authorities have cut online gambling tax to 20% which has attracted more international operators to apply for licences, this has helped accelerate the iGaming market.
The Spanish iGaming market is certainly becoming one of the biggest in Europe due to these and other factors.
With almost 50 million mobile subscriptions, Spain is a high-ranking country in terms of mobile phone use in Europe. It is a perfect storm in many ways.
The gambling market in Spain plays a significant market in the country’s economy. Access to the internet is expected to be at 98 per cent in a few years and that creates huge potential.
The Spanish gambling market will continue to grow at a rapid pace as it has a population that has an inherent love of leisure and sport. There may be some issues with the strict controls around promotion and advertising wagers.
Hola, I’m Paulina! Together with my team, we are passionate about Southern Spain. Here we share all you need to know for great times in Southern Spain with the best places to visit, stay and, of course, the best food to eat.
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