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Today we explore Spanish Gambling regulation.

Spain is on the straight-and-narrow in becoming one of the next regulated powerhouse gambling markets in both the casino and sports gambling industries. Thanks to an agreement of understanding between the established Spanish gambling group, Codere, and the well-known European betting operator, William Hill, it is clear that rumors suggesting Spain will soon be offering gambling For the moment, the gambling market is unregulated in Spain. However, due to a very large demand from Spanish citizens and online casino operators seeking gaming licenses to operate within Spain, several Spanish regions have already begun writing up gambling regulation legislation that would legalize certain forms of gambling, which as of yet, looks to be an inclusion of all forms of traditional land-based betting and online casino gambling. Considering that Spain is one of the largest gambling markets in Europe, the decision is being regarded as a wise one by casino gambling industry insiders and government officials.

The combinative powers of Codere and Will Hill in Spain will create an outstanding sports betting industry that will likewise give an economic boost to publicly operated programs and facilities. Following the lead of England, where the UK Gambling Bill is poised to go into effect and set the precedent of online casino and sportsbook regulation, Spain is on its way of becoming a top player in the world of regulated gambling.

The Spanish federal government has enacted legislation allowing sports betting in shops, retail outlets and online, and regional governments were given the ability to impose conditions as they see fit. Madrid’s regional government published regulations outlining its licensing conditions last month. Unlike Italy, Madrid has established a fixed license fee and a limited number of licenses. But license holders can open as many shops and outlets as they please.

Now figures:

The online gambling market in Spain is expected to grow to around $5 billion by 2010, it has been reported in a first week of February 2007.

Online-Casinos reported the Dublin-based Research and Markets as saying the Spanish gambling market is potentially the fastest growing market in the industry, with the potential to grow to around $50 billion by the year 2010, with online gambling expected to contribute $5 billion to the estimate.

The Research and Markets report is titled “The Spanish Gambling Market – a Key Region for Future Growth”.

The online gambling industry has suffered in recent times in countries like the USA, Germany and France. There is an increasing attraction for online Prestige gambling companies to be based in a less restrictive jurisdiction such as Spain.

Following Spain’s decision to regulate the gambling industry last year, there have been a flood of applications for the licenses on offer.

The report listed the following reasons why Spain is perceived as an attractive jurisdiction:

* Increasing liberalization – Autonomous regions throughout Spain are working towards a liberalization of the gambling market.

* Major gambling companies are poised to expand into Spain.

* Growth potential is high – the market is expected to increase by up to 240% on current levels.

* Lotto fever – the Spanish lottery market is one of the largest in the world and shows that gambling is entrenched in the Spanish culture.

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This entry was posted on Friday, April 6th, 2007 at 12:54 and is filed under Casino Gambling License (tags: none). You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.