Spain’s regulated online gambling market saw revenue shoot up by more than one-third in Q3, and even poker reported year-on-year improvement.
Figures released this week by Spanish gaming regulator Dirección General de Ordenación del Juego (DGOJ) show locally licensed online gambling operators generated combined revenue of €140.5m in the three months ending September 30. The sum is 16.6% greater than the market reported in Q2 and 37.3% more than it earned in Q3 2016.
The revenue gains are all the more impressive given that operators’ advertising expenses in Q3 fell 3% year-on-year, while the total value of operators’ bonus offers fell even harder (-18.2%). However, sponsorship costs nearly tripled year-on-year, albeit still representing a mere €1.9m.
Sports betting revenue rose 37% to just under €77m, with in-play betting accounting for nearly 60% of wagering revenue and 71.3% of betting volume. Spanish sportsbooks played lucky in Q3, as betting handle actually decreased 6.5% from Q2 while revenue rose 27.8%.