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Spain’s gambling sector  records $8.48bn in 2018

THE gambling sector in Spain continues to grow, the total hitting an estimated $8.48 billion in 2018 in terms of gross gaming revenue (GGR), records the country’s regulator.

The Dirección General de Ordenación del Juego (DGOJ) has been posting positive results in Spain for the past nine years, the sector enjoying record expansion. An estimated $894.67m of this total was contributed by online gambling operations, specified the regulator.

Lotteries again topped the charts, generating $4.64bn of the total revenue, and marking a close to 1% increase year-over-year. The results were driven by the two lottery operators in the country, and, specifically, the Sociedad Estatal Loterías y Apuestas del Estado (SELAE) and Organización Nacional de Ciegos Españoles (ONCE) accounting for $3.46bn and $1.13bn of the total revenue.

Meanwhile, physical venues, including casinos, rercorded decent results, generating close to $2.28bn, although this figure didn’t include gaming machines.

In fact, more than $1bn were accumulated through traditional gaming products. Bingo came second with $654.37m and third was betting, with $502.21m.

Even more impressive, online gambling amassed some 894.67m, as reported by DGOJ. This sum amounted to a 22.5% increase, year-over-year, reaching $19.63bn. Meanwhile, gaming machines accounted for some $78.12m. million.

All of this comes in the midst of planned changes to online gambling advertising, which comes into effect on 15th January next year,

In just a period of five years, the average online gambling market in Spain has increased by 270%. And, while the total online casino gambling was merely $483.67m in 2014, it hit $894.67m in 2018, which was an impressive feat in the space of five years, especially given the regulatory climate, which is toughening.

Spain may attempt to control Gibraltar and all gambling companies located in the now-British territory. However, a hard Brexit may lead to a much tougher regime on the territory, and Spain has already shown interest in legally-binding companies bringing their servers into the country.

A hard Brexit could also disrupt border movement, with some 60% of all gambling workers in Gibraltar residing in Spain instead.

Meanwhile, Spain is also addressing other issues, such as the incidence of problem gambling among kids. According to a study, conducted by the Federation of Rehabilitated Gamblers and Madrid’s Association of Psychologists, one in five kids aged 14-21 gambled.

The UK is currently trying to address multiple issues related to “problem-gambling” among youngsters. Loot boxes have been seen as one of the main culprits for underage gambling, even though the UK Gambling Commission (UKGC) has not classified these in-game mechanics as gambling.

 

Short URL: http://www.canarianweekly.com/?p=51232

Posted by on Dec 5 2019. Filed under Local News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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