Poll results: Spanish market now too big to ignore
Respondents suggest firms should be re-evaluating Spain based on latest revenue figures
Spain’s regulated online gambling market is now too big to ignore, according to a majority of respondents to this week’s poll.
More than 58% of voters agreed firms could be missing out on a major opportunity by not taking the plunge in Spain.
Figures released Monday showed online revenues increased by a third to €429m while turnover also surpassed the €10bn mark.
December alone contributed more than £1bn – the best monthly performance since the market regulated back in 2012.
Sportsbook and casino continue to grow apace, with 2016 revenues for the verticals up 32% and 73% year-on-year respectively, while active players and deposits are also on the rise.
The last official licensing round closed nearly two years ago, but firms can still enter the market by purchasing existing licences from other companies.
However, there were 42% of voters who thought the market could still be ignored with no major detrimental effect.
The market is dominated by major players like PokerStars, 888 and bet365, meaning new entrants would face an uphill battle to establish significant market share.
Margin is also currently at around 4% as a result of intense competition in sportsbook and a 25% tax rate on GGR.
Likewise casino growth may be overstated given that the comparative period in 2015 only included half a year of online slots, with regulation being brought in during the summer.