Sports betting drives 7% rise in Spanish GGR
Regulator reveals 17% increase in sportsbook revenues during Q2 as poker continues to decline
The regulated Spanish online gambling market increased 6.7% year-on-year during Q2 after a double-digit rise in sports betting revenues more than offset a disappointing poker performance.
According to figures released yesterday by the regulator Dirección General de Ordenación del Juego, total gross gaming revenues (GGR) for the three months ended 30 June increased to 59.2m, up from 55.5m recorded in Q2 2013.
Total GGR fell 13% sequentially from 68.1m in Q1 to 59.2m in Q2.
The sports betting market, which accounted for 54% of total GGR, posted a 17% year-on-year rise in GGR, rising from 27.3m in 2013 to 32m, following a strong uptake in active players during the World Cup.
The online casino and bingo sub-segments also recorded growth in Q2 2014 with GGR from the casino vertical increasing 8.1% year-on-year to 9.2m while bingo increased 10% to 2m.
Online poker continued to struggle after GGR decreased 6% year-on-year to 15.4m, down from 16.4m, which included an 8.4% and 1.1% fall in cash poker and tournaments respectively.
“The market is very competitive and the main operators are investing to keep their market quota or gain [a higher] market share,” Spanish gaming consultant, Eduardo Morales-Hermo, said.
“There has been a strong increase in active players as a direct consequence of the marketing and advertising investment and an increase in wagers due to the World Cup effect,” he added.
Morales-Hermo estimates that between 35% and 40% of online wagering is currently done with unlicensed operators which he expects to decrease following the legalisation of slots in May.