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Spanish iGaming Sector Witnesses 24% Surge In Q3 2023 Revenue


Spanish iGaming Sector Witnesses 24% Surge In Q3 2023 Revenue
Spanish iGaming Sector Witnesses 24% Surge In Q3 2023 Revenue

In a notable upswing, the gross gambling revenue (GGR) in Spain recorded a substantial 23.6% year-on-year increase, reaching €304.3 million (£261.2 million/€332.3 million) in the third quarter of 2023.


Despite surpassing the €240.8 million generated in the same period last year, this figure fell slightly short by 2.7% compared to the revenue of €312.6 million in Q2 of this year.


"The latest figures indicate a robust performance in Spain's iGaming sector, demonstrating sustained growth year-on-year. While there's a slight dip from the preceding quarter, the overall trajectory remains positive, underlining the resilience and vitality of the market," commented a market analyst.


Breaking down the Q3 results, casino activities emerged as the primary contributor to GGR in Spain, amounting to €160.3 million, showcasing a significant 25.3% increase from the previous year and constituting 52.7% of the overall market.


The live roulette sector experienced the most substantial growth, witnessing a remarkable 27.8% surge in GGR. Similarly, the slots segment demonstrated robust performance with a 25.9% increase.


Quarter-on-quarter statistics reveal an 11.5% rise in blackjack GGR, an 8.1% growth in slots, and a 5.4% uptick in live roulette. However, conventional roulette GGR experienced a marginal decline of 2.2% from Q2.


Sports Betting and Poker Show Positive Trends

Sports betting in Q3 saw a commendable 22.7% year-on-year surge in revenue, amounting to €113.5 million, contributing to 37.3% of the overall GGR during this period.


While pre-match bet GGR witnessed a decline of 31.7% from Q2, in-play wagers slipped by 0.3%. Interestingly, GGR from fixed-odds bets experienced a dip of 9.5%, but other fixed-odds betting revenue showed an impressive 46.1% increase from Q2.


The poker segment demonstrated positive growth, with GGR of €26.8 million, marking a 22.0% increase from Q3 last year and a 4.1% rise from Q2 2023. Poker tournament GGR surged by 31.1% year-on-year and 3.4% from Q2, while poker cash GGR recorded a 2.1% increase year-on-year and a 6.1% growth from Q2.


Financial Transactions and Operator Spending

Consumer deposits in Spain totaled €921.8 million in Q3, indicating an 11.9% increase from the previous year, although slightly lower than Q2. Withdrawals rose by 8.1% year-on-year to €615.9 million but were 2.9% lower than Q2.


In Q3, a total of 322,709 new accounts were opened, surpassing figures from both the previous year and Q2. The monthly average of active game accounts stood at 1,082,743, showcasing a 10.6% increase from last year but a 4.6% decline from Q2.


Operator spending on marketing costs in Q3 reached €93.3 million, reflecting a 12.0% year-on-year increase but a 4.9% decrease from Q2. Promotions accounted for the majority of gambling marketing, with €47.7 million spent in this category. Additionally, €33.2 million was allocated for advertising, and €11.6 million for affiliates.


During Q3, Spain had a total of 78 licensed operators in action. Among these, 50 offered casino services, 42 provided sports betting, nine were poker operators, three offered bingo services, and two focused on contests.

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