Spain Reports Online Gambling Growth Leveling Off

Published Saturday, June 01, 2013 - Online-Casinos.com
Spain Reports Online Gambling Growth Leveling Off

In many ways it’s not surprising that statistics released recently by Spain’s regulator DGOJ have shown that the market for online gambling services has leveled off.

Spain has been in deep recession mode for a long time now with unemployment hovering around 27 percent and the economy is still in bad shape. The government, nonetheless, said the worst of the down turn has passed and expects quarterly growth before the end of this year mostly because the country has become more competitive and exports are growing.

Economy Minister Luis de Guindos said, "All the indicators which look forward in Spain point to recovery, and a much better economy than one year ago,"

The gambling regulator’s report said, gross gaming revenues in the Spanish market reached 60.4 million euro in the first quarter of 2013, around 1 million euro less than in Q4-2012. Wagering was up the small amount of less than 1 percent reaching 1.37 billion euro.

There is the possibility of those numbers changing dramatically in the future as the Spanish online gambling authority has not allowed online slots to be offered yet in the market.

The report for the first quarter of 2013 also revealed that new player acquisitions also fell with the monthly average dropping to 51,342 compared to 72,453 during the fourth quarter of 2012 and 107,353 in the third quarter of 2012. It has been an excepted fact that the market has leveled off after a strong beginning when the market was liberalized.

Interestingly the betting on sports via the internet pulled in fifty percent of the markets gross gaming revenues. This represents a minor increase over the preceding quarter. Other gambling venues such as bingo declined further and cash poker stayed at the same level, although tournament GGR increased.

It has been suggested that the Spanish gambling authority has been discussing the possibilities of a compact with France & Italy to increase player liquidity.

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