Spanish Online Poker Thriving Post Regulation

Spanish Online Poker Thriving Post RegulationIn addition to suffering from a weak economy, Spain used to be home to numerous unlicensed online gambling sites all operating freely in the country without the consent of the government. Since the introduction of the Spanish Gambling Act in May 2012 and the market’s subsequent regulation, however, Spain has been enjoying consistent growth in this sector and has now become a major hotspot for online casino operators.
Actual regulation began on June 5th, and four month on the Spanish government, which receives 25% tax on all gross gaming revenue, has already collected over €77 million, with  €27.5 million of that figure coming in September alone.
This reflects the exponential growth the Spanish online poker market has been experiencing as player numbers and amounts wagered continue to rise. For example, on average real money gambling has been growing at a rate of 100,000 a month and has now reached around 700,000 players, equivalent to 1.5% of Spain’s population.
In addition, June saw online poker wagers reach €87 million, increasing to €114 million in July, €119 million in August and €131 million in September. Consequently, poker now accounts for 36% of the online gaming market, although sports-betting is still presently out in front at 42%. Other games including casinos account for around 18% of all wagers.
Not surprisingly, online poker operators are reaping huge rewards from the lucrative Spanish market, with PokerStars experiencing a 30% growth over the past three months to now command a 70% share of the online poker market in Spain. The poker giant boasts over 1,450 real money players with player traffic leaping 40% since the start of regulation in June.
As the online poker market continues to flourish, its success in Spain is being held up as an example of the benefits of a regulated industry, where players can then wager safely, and companies are free to engage in competitive strategies in order to attract customers to their websites.

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