Spain’s iGaming Segment Experiences 23% Year-Over-Year Revenue Gains
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Posted on: December 18, 2023, 07:25h.
Last updated on: December 18, 2023, 05:02h.
The iGaming market in Spain is gaining strength, reporting a significant year-on-year jump in the first three quarters of the year. However, there was also a dip in activity compared to the second-quarter results.
In the latest report by the Directorate General for the Regulation of Gambling (DGOJ, for its Spanish acronym), Spain’s iGaming gross gambling revenue (GGR) for the third quarter of 2023 was €304.26 million (US$332.05 million).
The results show a slight decrease of 2.67% quarter-over-quarter but a significant rise of 23.6% year-on-year. This marks the fourth straight year of growth for Spain’s iGaming market.
The casino segment emerged as the front-runner, contributing €160.26 million (US$174.91 million), or 52.67%, of the total GGR. Within this segment, live roulette and slots exhibited quarter-over-quarter variation rates of 5.43% and 8.09%, respectively.
The report provides a comprehensive overview of various key components, shedding light on the dynamics of GGR distribution, marketing expenses, and player activity across different game segments.
Online Casino Remains in Front
The sports betting segment faced a decline of 14.86% quarter-over-quarter. Leading the drop were decreases in prematch betting (-31.70%) and horse racing fixed-odds wagers (-9.52%).
Bingo experienced growth, with a 2.91% increase quarter-over-quarter, while poker posted a positive trend with a 4.09% increase in GGR. Poker tournaments and cash games also contributed to the upward trajectory, with quarter-over-quarter variation rates of 3.37% and 6.12%, respectively.
Contests witnessed a significant fall of 68.37% quarter-over-quarter, continuing an irregular pattern over the years. The annual variation rates for the contests segment reveal a stark contrast, with a rise of 56.64% year-over-year.
For the past several years, iGaming has been among the top earners in the eCommerce industry. This continued through 2023, even before the former Minister of Consumer Affairs, the anti-gambling pundit Alberto Garzón, stepped down from his post.
Marketing, Player Counts Drop
Marketing expenses decreased by 4.93% quarter-over-quarter, falling to €93.33 million (US$101.87 million). The breakdown of marketing expenses reveals €11.57 million (US$12.63 million) for affiliate agreements, €870K (US$950K) for sponsorships, €47.68 million (US$52.06 million) for promotions, and €33.2 million (US$36.24 million) for advertising.
Although the spending in all marketing segments decreased quarter-over-quarter, the year-on-year variation rates are positive. They indicate a substantial rise in sponsorships (153.04%), affiliates (15.96%), promotions (11.87%), and advertising (9.31%).
The monthly average of active game accounts declined by 4.58% quarter over quarter but registers an overall increase of 10.61% year-on-year. The monthly average of new game accounts experiences growth, with a 4.64% increase quarter-over-quarter and a 4.49% rise year-on-year.
Player deposits and withdrawals followed similar trends, with year-on-year variation rates of 11.87% and 8.07%, respectively. However, quarter-over-quarter figures show a slight decline of 0.45% in deposits and a more notable 2.92% decrease in withdrawals.
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