After slipping in the previous quarter, Spain’s online gambling revenue has jumped in the third.
According to the figures released by the country’s gambling regulator, Spain’s gross gaming revenue (GGR) was €191.7m ($211.5m) for Q3 2019. The figure represents a 5 percent year-on-year increase. The revenue for the third quarter was also up 7 percent from the second quarter of 2019.
While the casino revenue slipped 4 percent when compared with the revenue generated during the second quarter, it was up nine percent when compared with revenue generated during the same period the previous year.
The monthly average of active accounts was 869,499 representing a 1 percent growth from the 2018 figures.
Currently, there are 80 operators licensed to offer online gambling products. Five new licensees were added in the third quarter.
Online Gambling Growth
The online gambling market in Spain has been expanding, both in terms of revenue and the number of operators.
The latest figures released by the country’s gambling regulator Dirección General de Ordenación del Juego (DGOJ), for 2018 reveal that the gambling industry in Spain grossed €7.77bn (£6.57bn/$8.48bn) in gaming revenue.
The online gaming sector posted a 22.5% year-on-year growth and took in €812.0m in revenue.
Despite slowing down in the second quarter of 2019 the online gambling market in Spain is back on track.
Gambling Addiction On The Rise
With an increase in Online gambling operators which went up from 57 to 80 between the second and third quarters, there has been an increase in gambling addiction amongst the youth.
Also, there have been strong protests against ongoing gambling expansion in the country. In October there were massive protests against an unprecedented spike in gambling activities and an increase in the number of betting shops.
According to 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.