According to the most recent figures, Spain's online gaming market is still growing
Once again, gaming is an important component of Spain's economic success. The General Directorate for the Regulation of Gaming (DGOJ), the country's gambling regulator, reported a 31% year-on-year growth in online gaming income for the third quarter of last year.
According to the DGOJ's most recent financial data, gross gaming revenue (GGR) for the period was €240.83 million (US$257.31 million). This is an increase of 18% over the previous quarter and 31% over the same quarter last year.
The figures support an activity that is gaining popularity across the country. Some of the variables behind this surge include an increase in the use of technological gadgets and overall investments in Spain's digital society.
Digital is gaining ground.
According to DGOJ figures, online casino gaming received €127.95 million (US$136.7 million), or 53% of the total. The sports betting vertical came in second with €89.04 million (US$95.12 million). This accounted for 37% of the total.
Online poker increased 8.4% over the same period last year, closing with €20.14 million (US$21.45 million). This was a 10.6% decrease from the previous quarter.
Bingo's €3.68 million (US$3.92 million) revenue increased 9.6% quarter over quarter and 4.6% year over year. Finally, internet sweepstakes took €300,000 (US$319,500).
The sports betting segment increased 46% from the previous quarter and 49% from the same period last year. When compared to the previous quarter, conventional straight bets climbed by 19% while direct bets increased by 76%.
Horse race betting fell by 33%, while direct bets on other events increased by 99% quarter over quarter.
COVID-19 is one of the major causes driving the increase in online gaming, in addition to the increase in digital technology usage. Many casinos and physical gaming locations were forced to close due to the pandemic's onset. This resulted in massive profit losses, forcing the gambling sector to seek alternate sources of revenue. It was also a driving force behind the expansion of the entire digital ecosystem.
Amid the COVID-19-induced lockdowns, individuals had fewer entertainment options, and the Internet became more popular. As a result, more people started playing online games and never looked back.
The online gaming business is currently looking for ways to improve the customer experience. To offer new possibilities, operators and developers are increasingly depending on data measuring tools and cutting-edge innovation. The result is an even bigger degree of curiosity that is generating even more innovation and progress.
Past research has revealed that online gaming is one of the most important economic drivers in Spain, and as a result, the gaming sector will most certainly look substantially different in ten years.
By fLEXI tEAM