Spanish market grows 19% in Q3
GGR rises to 62m as sportsbook turnover increases 48% year-on-year
Spain’s online gambling market has continued its run of recent fine form after posting a 19% increase in Q3 gross gaming revenues (GGR) with sportsbook growing by more than a third.
According to figures released by the Spanish regulator Dirección General de Ordenación del Juego, total GGR for the three-month period ended 30 September was 62m – a year-on-year increase of 19% and comes on the back of the 7% growth recorded in Q2.
The figure also represented in a 5% sequential increase while total turnover increased by 18% year-on-year to 1.6bn – although this was broadly flat when compared to Q2 2014.
Sportsbook cemented its position as Spain’s largest vertical as Q3 GGR increased by 35% year-on-year to 33.7m, which was 54% of the total market and 6% higher than the 31.8m posted in Q2, despite the previous quarter having coincided with a large majority of the World Cup.
Sports betting turnover enjoyed more substantial growth with stakes hitting 708m, a 48% increase on the 480m wagered in Q3 2013.
Bet365 continued to lead the way with an approximate 52% sportsbook market share followed by the likes of William Hill and bwin, while 888sport made a promising start following its August launch.
Poker was the second biggest vertical with GGR of 17.2m, up 9% year-on-year and 12% sequentially as PokerStars and 888 continue to dominate with a combined 90% share of the market.
Poker turnover, however, remained broadly flat at 528m as cash games fell 11% year-on-year while tournament poker was up by almost two fifths (39%).
Casino continues to underperform due to the lack of regulated slots with GGR of 8.5m, which was up by 5% year-on-year but down 7% on Q2.
However, the regulator recently opened the licensing window for online slots and operators are expected to be live with the product at some point in Q1 2015.
Gaming consultant Eduardo Morales Hermo said the introduction of the product would see casino revenues boosted by around two-thirds in Q2 2015.
“It is expected that with the introduction of the slots, this segment will improve its overall share of the market, with estimates in the area of 60-70% in the overall figures for casino games,” Hermo said.
Bingo experienced a positive quarter as GGR increased by 12% year-on-year and 8% sequentially.