Victor Chandler, betting boss who lost a fortune “betting” on the Spanish property market, expects his fortune to return as he becomes the first British bookmaker to receive an online gambling license in Madrid. Victor Chandler said, that “Madrid has the largest regional gambling market in Spain.”
“We are close to gaining a licence, which will make us the first firm to open the doors to internet gambling in the region and allow us to advertise in Spain.”
Madrid’s gambling market is expected to be worth around 250 million Euros.
Victor Chandler bookmakers relocated to Gibraltar in 1999 to benefit from a reduction in taxes. The online operation has been abbreviated to VC and offers sports, casino and poker betting.