Spanish gambling faces a year-on-year decline in revenues, exacerbated by bonus limits and advertising restrictions, yet in what appears to be a market in chaos there is one shining star - the online casino niche.
2019 into 2020 has seen the Spanish gambling sector face some less than favourable headwinds starting with an overall decline in revenues, a reduction in online casino welcome bonuses and the recently approved limitations on above the line advertising.
Year-On-Year Review
While the overall revenue figures for Spain’s gambling sector showed a drop of more than 3% in the last quarter of 2019 a deeper look at the individual market sectors shows that the online casino market is flourishing.
While sports betting showed declines as vast as 22% in some areas and even bingo reported a nearly 10% loss in income the online casino spend was up over 14%. Its growth came from slots which rose 17.6% and live dealer games which spiked by a phenomenal 36%.
This increase in revenues comes on the back of more than 300,000 new real money players in the final quarter of 2019 alone.
Knee Jerk Reactions
Rather than working with the regulated casino operators the Spanish government has reacted to the growth of the market with downright detrimental decision making.
The first step they took was to propose a €100 limit on welcome bonuses. The flawed logic being that larger promotional offers somehow attract minors and problem gamblers, while smaller bonuses won’t. However, that simply leaves them free to access to unregulated international operators.
The market will face further challenges as the newly approved above the line advertising regulations come into play limiting online casino ads to 1am-5am window, stopping celebrity endorsements and restricting stadium sponsorships.
Down Not Out
Even in the face of a confrontational government, the growth in the online casino sector is still appealing to many online operators pursuing licencing in the region. The Directorate General for the Regulation of Gambling (DGOJ) recently approved gambling permits for both 1xBet casino and Casumo casino.
These newly approved casinos will also not feel the loss of TV and radio advertising, for them working with affiliates and online advertising channels is simply business as usual.
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