The online and casino gambling industry in Spain continues to grow; however, it is yet to claim its former glory before the recession hit the country in 2008.
The 2019 Gaming in Spain Yearbook (viewable here, en español) from the Consejo Empresarial del Juego (CEJUEGO) industry body, released Thursday reveals that Spain’s gambling market was worth €9.87b in 2018, representing 0.8% of the nation’s gross domestic product.
The 2018 figure also represents a 5 percent year-on-year growth when compared with 2017. However, at its peak in 2007, the gambling industry in Spain contributed €11.7b to the country’s GDP.
While the private sector generated €5.58b, up 4.2% from 2017, the public sector recorded a 1.9% year-on-year to €4.29b.
The online gambling market was worth €724.4m in 2018, up nearly one-quarter from 2017.
As the market expands there has been an unprecedented increase in gambling addiction amongst Spanish youth. A recent report also found that Spanish teens are the most addicted to gambling when compared with their European counterparts.
Earlier this month, several Spanish cities witnessed massive protests against an unprecedented spike in gambling activities and an increase in the number of betting shops in the country in recent months.
While the protestors rallied against the proliferation of gambling, the protestors also demanded the activity be banned and replaced with other leisure adult entertainment.
The gambling market in Spain has been growing and is amongst the largest in Europe. According to the figures released by the country’s gambling regulator, the Directorate General for Gambling Regulation (DGOJ), Spain’s gambling market grew 387% between 2012 and 2017, from €2.8 billion to more than €13 billion.