Good Business In Espana
Published: Tuesday, February 20, 2007 Online-Casinos.com
GOOD BUSINESS IN ESPANA
Spain's online gambling market is expected to grow to Euro 4.2 billion by 2010
Dublin-based Research and Markets says the Spanish gambling market - including the online sector - is the place to be, with the potential to grow to Euro 39 billion by the year 2010, according to its latest report "The Spanish Gambling Market - a Key Region for Future Growth".
Online sector growth to Euro 4.2 billion by 2010 is forecast - an increase of 240 percent over current levels.
The report refers to the William Hill group's expansion into Spain, and claims that more and more Spanish soccer teams are sponsored by online gambling companies - just a few of many clear signs that the gambling industry is starting to focus on Spain for future growth.
Following legal hassles in countries like the USA, Germany and France a key strategic option is expansion into less restrictive jurisdictions or into regions where an increased liberalisation might be possible in the short term, the report confirms. Many operators surveyed mentioned Spain as a particularly attractive jurisdiction for such an expansion.
The following are some reasons why Spain is perceived as so attractive:
Increasing liberalisation - Many autonomous regions in Spain are working toward a liberalisation of the market, and particularly the betting sector as well as interactive gambling could benefit from that.
Big industry players are already poised for expansion into Spain - Many international companies, such as William Hill or Betbull/BWin, already have joint venture agreements in place and are poised to take advantage of the market in Spain.
Growth potential, especially for retail betting and interactive gambling - Overall Spain's gambling market is expected to grow to Euro 39 billion by 2010.
By 2010 the retail betting market is expected to grow to circa Euro 4.5 billion, which is more than 750 percent larger than its current size (CAGR of 71 percent).
The other growth driver will be interactive gambling, which is expected to reach around Euro 4.2 billion by 2010, a growth of circa 240 percent (CAGR of 36 percent) over the current level.
Lotto passion - Spain's lottery market is one of the largest in the world and can boast impressive per-capita sales.
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