Spanish Gambling Sector's Online GGR Surges Over 14% YoY in 3rd Quarter 2024

Impact of Revised Gaming Advertising Rules

In April, Spain's Supreme Court cancelled several restrictions on gambling marketing, including prohibitions on welcome bonuses and promotions with celebs. This decision significantly boosted the sector’s turnover.

During the reported period, a notable incline was observed in several key areas:

• deposits increased by 23.9% YoY;
• withdrawals rose by 30.3% compared to the previous year;
• total accounts grew by 1.7% QoQ;
• marketing expenditures climbed 9.7% quarterly, reaching €131.7 million.

Profit Distribution by Niche

Currently, the country hosts 77 licensed iGaming labels:

• 51 casinos;
• 24 bookmakers;
• 9 poker platforms;
• 4 bingo websites;
• 2 portals offering tournaments.

Earnings from web slots, table solutions, and similar entertainment content contributed 54% of the entire online GGR, with digital casinos generating €188 million during Q3 — a 17.3% YoY and 9.5% QoQ growth. This accomplishment was primarily caused by a 49.4% rise in blackjack turnover, while slots revenue increased by 25.8%.

Despite Spain's Euro 2024 victory, the domestic betting niche saw incomes fall to €135.9 million, a 6.6% decline from the 2nd quarter. However, the sector recorded a 19.8% increase in a yearly equivalent. The state’s sportsbook segment accounted for 39.1% of the overall online GGR in Q3.

Other verticals showed the following performance:

1. Poker. The niche continues to decline in popularity among locals, with GGR dropping to €20.5 million, a 19.7% decrease QoQ and 23.5% YoY.
2. Bingo. The segment remains relatively stable, with profits reaching €3.7 million. The results are nearly comparable to prior periods, with slight increases of 0.7% QoQ and 1.7% YoY.

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