Spain has been a popular gambling destination with the complete legalization of different sorts of games. It is believed that over €1.9 billion is invested in the Spanish gambling hobby every year. The legalized gambling framework in this country is attracting more and more players and operators eventually resulting in its maximum revenue.
Rise In Spain Online Gambling Market
The online gambling market in Spain has increased by more than one-fifth in 2019’s first quarter irrespective of the decline in poker vertical. According to statistics by Dirección General de Ordenación del Juego (DGOJ) regulatory body of Spain, locally licensed online operators produced an improvement of 20.1% over 2018’s first quarter. The total profit stands at €163.3 million up a higher increase of 28% from the same duration in 2017. The revenue improved 51% year-on-year to €56.5 million. More than half of this revenue has been contributed by online slots. The 2nd largest share of 21.1% comes from live roulette.
Growth Of Spain Online Gambling Market In Coming Years
As discussed above, online gambling in Spain has continued to enjoy the significant growth in 2018 with numbers of operators such as Merkur Magic coming out with extended markets to welcome increased volume of customers around the globe. All factors such as an increasing number of people gambling online, extended regulated markets, and total enhanced revenue are contributing a lot in the growth of Spain’s online gambling sector. According to the recent statistics, this industry will be worth around $1.22 billion by the year 2023. The latest study reports that the Spanish gambling market was on the international market’s radar in terms of its estimated growth and improving revenue.
The technological advancements in the gambling sector of Spain will be of great interest to operators. The gaming opportunities for Spanish players will look more significant than ever with the emergence of more markets and operators.