iGaming Daily Ep 612: iGaming in Spain: A Renaissance or a Regulatory Reckoning?
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Sep 26, 2025 Ted Menmuir, SBC Editor-At-Large, offers insights on the Spanish iGaming market, analyzing its growth and regulatory evolution. Damian Martinez, SBC Noticias Business Journalist, discusses Q2 2025's impressive gaming revenue and changes in player behavior. They explore the implications of proposed AI-driven risk detection and the resilience of lotteries versus online gaming. The conversation also delves into Melilla's appeal for iGaming investments and the potential for a renaissance in the Spanish gambling landscape amid ongoing regulatory challenges.
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Spain Q2 2025 Market Snapshot
- Spain's Q2 2025 gross gaming revenue reached €410m, up 18% year-on-year and 2.8% quarter-on-quarter.
- Online casino made up 52% of GGR, with sports betting the next largest segment.
Player Activity Trends
- Deposits and withdrawals rose sharply year-on-year by 23% and 28% respectively.
- New accounts fell 11.6% and marketing spend dipped slightly, hinting at shifting player behaviour.
Regulatory Shock From The Royal Decree
- Spain's earlier Royal Decree enforced severe advertising and bonus restrictions that contracted the market in prior years.
- Those measures and subsequent court pushbacks have left operators navigating a volatile regulatory environment.