The Directorate General for the Regulation of Gambling (DGOJ) has published its financial report for Spain’s online gambling market, covering the second quarter of 2024. The numbers reflect a period of continued growth for the industry, with some sectors thriving while others experience slight declines.
Overall Market Performance: A Strong 10.79% Growth in GGR
Gross Gaming Revenue (GGR) in Spain’s online gambling sector reached a robust €346.3 million ($386.5 million) during Q2 2024, representing a 10.79% increase compared to the same quarter in 2023. This figure underlines the resilience of the online gambling industry in Spain, which has experienced continuous growth over recent years despite evolving regulations and market conditions.
While this growth is impressive, it is important to consider the performance of individual segments within the market. The report breaks down GGR by categories, showing that casino and betting remain the dominant drivers of growth, with poker experiencing a slight downturn and contests registering no activity.
Segment-Specific Performance: Casino Takes the Lead, Betting Close Behind
A closer look at the GGR distribution reveals that the casino sector held the largest share, accounting for 49.57% of the total. Betting, traditionally a major contributor to Spain’s online gambling market, followed closely behind with 42% of the GGR. The poker segment, while still contributing a notable portion, accounted for just 7.38%, and bingo made up a minimal 1.04% of the overall market.
Casino Sector: A 14.57% Year-on-Year Increase
The casino segment experienced a healthy 14.57% increase in GGR, reaching €171.69 million during the second quarter. This significant growth underscores the rising popularity of online casino games, which now represent the largest share of the online gambling market in Spain. The surge in casino revenues aligns with broader global trends, as more players engage with slot games, live dealer experiences, and other interactive casino offerings.
Betting Sector: Growing Steadily with 9.13% Growth
The betting segment also saw notable growth, rising 9.13% year-on-year to achieve a GGR of €145.48 million. Although betting did not grow as rapidly as the casino segment, it remains a substantial portion of the overall market. Sports betting, in particular, continues to drive this segment, as major sporting events attract significant wagering activity throughout the year.
Poker Segment: Marginal Decline of 0.76%
The poker market, however, experienced a slight decline in Q2 2024. GGR from poker amounted to €25.56 million, marking a 0.76% drop compared to the same period in 2023. While this decrease is marginal, it suggests that the poker market has plateaued and may be facing increased competition from other forms of online gambling, such as casino games and sports betting.
Bingo Sector: Modest Growth of 1.87%
The bingo segment saw a modest rise in GGR, increasing 1.87% year-on-year to €3.61 million. Although the bingo market remains relatively small, this growth indicates that there is still a dedicated player base for online bingo games. The gradual uptick could signal potential opportunities for operators to invest in this segment, particularly by enhancing the online bingo experience through new game formats or promotions.
Turnover and Market Activity: Betting Sees the Largest Growth
In terms of total turnover, the online gambling market reached €8.26 billion in Q2 2024, an increase of 7.76% compared to the same quarter in the previous year. Turnover reflects the total amount wagered by players across all forms of online gambling, providing insight into the overall activity levels in the market.
The casino segment led the way in terms of turnover, accounting for €4.99 billion in player wagers. However, it was the betting segment that saw the largest year-on-year growth, with a 10.73% increase, bringing the total betting turnover to €2.55 billion. This growth in betting turnover, combined with the GGR rise, highlights the enduring appeal of online sports betting and other betting activities in Spain.
Player Activity: Significant Growth in Active and New Accounts
In addition to financial performance, the DGOJ report also provided insights into player activity during Q2 2024. The average number of active player accounts grew by 23.65%, reaching 1,401,634 during the quarter. This sharp increase indicates that more players are engaging with online gambling platforms on a regular basis.
Similarly, the number of active gamblers rose by 22.11%, with 942,805 individuals actively participating in online gambling each month. This data suggests a healthy and expanding customer base for operators, driven in part by the increasing popularity of online gambling during major sporting events and through the appeal of innovative casino games.
Notably, the number of new accounts surged by 46.57%, with 150,677 new accounts registered during the quarter. This sharp rise in new accounts may reflect the impact of marketing efforts, attractive sign-up bonuses, and promotions offered by online gambling operators to attract fresh players.
However, despite the rise in new accounts, the number of new gamblers—defined as individuals engaging in online gambling for the first time—declined by 5.15% to 47,826. This drop suggests that while operators are successful in encouraging account registrations, there may be challenges in converting new sign-ups into active, long-term gamblers.
Comparison with Sweden’s Market: A European Perspective
The positive trends in Spain’s online gambling market align with broader growth observed in other European markets. For instance, Sweden’s regulatory body, the Swedish Gaming Authority (Spelinspektionen), recently released its financial figures for Q2 2024, which also demonstrated overall growth in the gambling industry.
Both Spain and Sweden have seen the benefits of robust regulation, which promotes responsible gambling while ensuring market growth. However, Spain’s market dynamics, particularly the strong performance in the casino and betting sectors, highlight unique characteristics that distinguish it from other European countries.
Key Takeaways and Future Outlook
Spain’s online gambling market continues to show impressive growth, particularly in the casino and betting sectors. The 14.57% increase in casino GGR and the 9.13% rise in betting GGR during Q2 2024 reflect a healthy appetite for online gambling among Spanish consumers. These figures suggest that operators are effectively capitalizing on trends such as live casino gaming and sports betting to drive revenue.
However, challenges remain, particularly in the poker segment, which experienced a marginal decline. As competition intensifies and player preferences evolve, operators may need to diversify their offerings or focus on enhancing the online poker experience to retain and grow this player base.
The data also highlights the importance of player engagement, with active player accounts and new registrations showing significant growth. Nevertheless, the decline in new gamblers suggests that operators must focus not only on acquiring new customers but also on converting them into active, loyal players.
Looking ahead, the outlook for Spain’s online gambling market remains positive. Continued investment in innovative gaming products, responsible gambling measures, and targeted marketing efforts could sustain growth across all segments. Moreover, as regulatory frameworks evolve and adapt to new technologies, the Spanish market is well-positioned to maintain its upward trajectory.
The Q2 2024 financial figures released by the DGOJ provide valuable insights into the state of Spain’s online gambling industry. With strong growth in both casino and betting segments and increasing player engagement, the market appears poised for continued success in the coming years. However, operators must remain vigilant to shifts in player preferences and market dynamics to stay competitive in this rapidly evolving landscape.