The online gambling market in Spain has long been in discrepancy with EU regulations, specifically violating European Union trade agreements.
The process of regulating the online gambling industry has been ongoing since 2007, when lawmakers agreed that national laws were urgently required in order to effectively regulate the online gaming industry in Spain.
The online gambling market in Spain, has been presently untapped. With new regulations on the horizon, the market is set to explode, with 46 million Spanish speaking people in Spain providing a huge potential for growth.
Victor Chandler has already announced plans to become the first British bookmaker to secure an online gambling license for Madrid: “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.”
Online casino operators such as William Hill and Bet Bull/Win also have their eyes on the Spanish market, which promises to become a gold mine, not only for the operators but also for the Spanish government, which is in much need of cash, given the country’s economic nightmare.
The new regulation will provide a five year licensing agreement which will regulate gambling sites to ensure their compliance with EU regulations. The five year licenses will be renewable for a further five years, pending the success of the licensing agreement.
iGaming Business plans an event for iGaming affiliates and online casino operatiors in Madrid for the end of October, in order to promote the understanding of legal, technical and operational aspects of the Spanish market.
Online casino affiliates and media owners are invited to attend the iGB España conference in Madrid for free. The event will include several networking sessions as well as a two-day exhibition.