Spain Game Management Directive issued announced regarding the quarterly earnings sustained throughout Q3 2020, which confirmed revenues dropping by minor percentages. It’s an unfortunate announcement resulting from the Covid-19 Pandemic. Lockdown measures in Spain have lifted minorly, enabling civilians to sustain their working obligations. Spanish bettors not isolating from their homes has prompted shorter timeframes for online gambling. Quarterly revenue has subsequently dropped by 6%, with comparison made from profits two years back noting an overall reduction in monetary gains for digital sportsbooks.
Detailed analysis of the “Dirección General de Ordenación del Juego”, which translated is the Spain Game Management Directive, shows an overall reduction of 15% for sportsbetting profits. Further analysis indicated pre-match wagers dropped by 21%, limiting the earned revenue to €31.5 Million. Bets sustained for live betting decreased by 9% compared to 2019, resulting in profited revenue at €52.6 Million.
Casinos performed considerably better than sportsbooks in Spain, an inconsistency limited to that nation exclusively in the European Union. Digital casinos saw revenues increase by 26% compared to the third quarter of 2019, prompting recorded profits of €83.9 Million. Analysis of that prominent revenue shows that online slots earned more than half the total profited funds, with €49.8 Million acquired. Poker proved Spain’s second most popular title, with earnings listed at €23 Million. Live roulette followed with €22.4 Million in profits. The exclusive online property that saw reductions in player activity was bingo, which saw reductions of 23%. It prompted €4 Million at maximized profits.
New Regulator Coming
Spain’s Game Management Directive made this announcement as their last. The Spanish Government announced months back that an updated & enhanced regulatory body would monitor online betting activity. Named “The Ministry of Consumption and Gambling”, it’s known the MCG will be governed by Spain’s Consumer Affairs Minister. This will likely prompt safer environments for bettors & enable greater taxation of market affairs for Spain’s Government.