- Spain’s online casino industry continues to grow in popularity
- Online casinos accounted for 28.6% of all online betting in 2016
- Online revenue for 2016 was more than $139 million
While some nations are well known for their love of casinos – and for their casino industry – Spain is a country that has largely slipped beneath the radar.
Figures that have recently been released however show the extent of the Mediterranean nation’s love affair with casino betting, particularly online casinos.
In the final quarter of 2016, Spain’s online gambling sector reached record highs. In fact, it’s been one of the few industries to show signs of growth amidst a general economic slump that has sent unemployment soaring in the country and forced many of its citizens to look elsewhere in Europe in search of work.
The figures are certainly dramatic too, with Spain’s online revenue up by almost a third in the final quarter of 2016 to over $139 million (€125 million). Players also wagered 20% more than in previous quarters on average.
Spain’s market doesn’t appear even close to reaching saturation; the size of the market swelled by 10%, reaching almost 600,000 active playing accounts in the final quarter of last year. For the entire year, the number of active players was up 17.3% compared to 2015.
Online casinos popular
All told, online casinos accounted for 28.6% of all online gambling in Spain. Online poker on the other hand dropped slightly, a trend that’s been reflected worldwide as a lack of innovation has caused the market to falter.
Sports betting on the rise
Aside from online casinos, the other area where Spanish bettors like to put their money is into sports betting. Football is huge in Spain and where there’s a large and vociferous fanbase, you can almost guarantee there’ll be an equally enthusiastic army of sports bettors seeking to wager on in-play betting and all the other options that are available.
During the fourth quarter of 2016, Spain’s sports betting revenue reached a record high of almost $78 million (€70 million), which accounted for 55% of the country’s overall gambling revenue.
Market experts are tipping Spain’s gambling sector to continue its impressive growth throughout 2017 and beyond. In comparison to countries such as the US, it is interesting to watch such growth that can come form players having freedom to bet online, in a regulated market, whenever and whenever they get the urge.
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