The online gambling market in Spain is Exploding
The online casino market in Spain is expected to grow to around $5 billion by 2010, it has been reported this week.
The Spanish gambling market is potentially the fastest growing market in the industry, with the potential to grow to around $50 billion by the year 2010, with online gambling expected to contribute $5 billion to the estimate. There is an increasing attraction for online gambling companies to be based in a less restrictive jurisdiction such as Spain.
Following Spain’s decision to regulate the gambling industry last year, there have been a flood of applications for the licenses on offer.
The report listed the following reasons why Spain is perceived as an attractive jurisdiction:
- # Increasing liberalization – Autonomous regions throughout Spain are working towards a liberalization of the gambling market.
- # Major gambling companies are poised to expand into Spain.
- # Growth potential is high – The market is expected to increase by up to 240% on current levels.
- # Lotto Fever – The Spanish lottery market is one of the largest in the world and shows that gambling is entrenched in the Spanish culture.
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