The online gambling sphere in Spain is growing exponentially, with 2020 reporting an increase in GGR of 13.7% on the previous year
Online gambling battles with sports betting for the position of largest market share in the casino and gaming market after experiencing monumental growth in 2020.
The online gambling market in Spain generated €850.7m in 2020, a whopping 13.7% increase compared to the year prior, while sports betting experienced a 3.48% year on year (YoY) decrease.
According to a 'Spain Betting Focus' report published by BtoBet, sports betting in the country still leads the pack, reporting the highest gross gaming revenue (GGR), with a total of €365.14m or 42.92% share. It is important to note that this represented a 3.48% year on year decline as a result of the COVID-19 pandemic halting sports.
Given the stand-still on sports as a result of the pandemic, many players turned to online gaming. The rise in popularity in Spain resulted in the new Royal Decree getting the greenlight by the Council of Ministers in Spain. This encompasses restrictions and regulation for gambling advertising on TV, radio and social media, in bid to mitigate problem gambling.
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Source: SBC News
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