Spain, like many countries in Europe, is currently working to revamp its gambling industry. Not long ago, lawmakers here began looking at laws toward gambling advertisements. Now, officials have announced that Spain’s sports gambling laws are changing.
Today, we’re going to look at what changes are coming here. We’ll also talk about why the government is implementing a new set of laws towards the sports gambling industry. There are a lot of changes coming. Let’s get into it!
Lawmakers in Spain began regulating the online gambling industry in 2011. Prior to this, the government had no legal way to license and tax foreign gambling websites. Since 2011, this country’s online gambling market has exploded with popularity.
Things began to slow down in the fourth quarter of 2018. During this time, gambling revenue dropped by 10.7%. It was unusual, as the government hadn’t implemented any major restrictions on the industry.
Gambling revenue is fluctuating in 2019. Government officials are now beginning the process of increasing internet gambling regulations. The country’s Gaming Commission (the DGOJ) announced in May that a blanket ban on all gambling advertisements was being considered.
Online and land-based gambling operators here immediately began pushing against these new regulations. This week, the DGOJ stated that Spain’s sports betting laws were changing as well. Fortunately, this industry is remaining legal.
In June, Spain’s gambling regulator revealed a three-year plan to better oversee the gambling industry. This government body wants to ensure that gambling companies are committed to social responsibility.
The gambling regulator in Spain is now banning companies from accepting wagers on matches involving underage athletes. It makes sense, as these sporting events are not regulated the same way as professional sports. There’s a concern that gambling on these matches could result in game-fixing.
The DGOJ also claims that these new laws are made to protect minors. Officials in the Gambling Commission state they want to create a clear separation between kids and the gambling industry.
Spain’s sports betting laws aren’t entirely unique. Not long ago, Sweden fined several companies for offering sports odds on games featuring minors. We’ll need to wait and see how gambling companies here respond to these new regulations.
For the first four months of 2019, Spain’s gambling revenue increased. Things may not seem exactly as they appear, though.
Revenue has been increasing, yet the first quarter of 2019 is up just 2.14% from the final quarter of 2018. This represents the lowest revenue increase in years. Certain forms of gambling are generating more revenue than others.
Online slot gambling revenue has increased by 29.2% over the first four months of this year. Interestingly, online poker revenue has dropped. This form of gambling decreased by 1.4% year-on-year.
Gambling operators here are spending more on marketing than ever before. This may be in response to the government’s call for a ban on gambling advertisements. Spain’s sports betting laws are changing and we’ll need to wait to see how, if at all, this affects sports gambling revenue.
Do you think these new laws will affect the gambling industry in Spain? Will revenue increase in 2019’s second quarter? Let us know in the comment section below!
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