Spain’s Online Gambling Revenue Surges to €350.7m in Q1 2024

Casino Leads Revenue Generation

Casino remains the primary source of revenue, generating €167.8m in Q1, accounting for 47.8% of all market revenue. The quarterly total was 17.0% higher than last year, though it saw a slight decline of 2.1% compared to Q4 2023. Year-on-year growth in the casino segment was driven by a 15.0% increase in slots revenue and a 22.2% rise in roulette revenue, with growth also observed in blackjack and roulette.

Sports betting revenue reached €150.3m, representing 42.9% of overall revenue for the quarter. This is 15.4% higher than Q1 last year and 31.0% ahead of Q4. Within this market, pre-match betting activity saw an extraordinary increase of 588.8% year-on-year, although in-play bets declined by 31.7%. Other bet types experienced a modest rise of 1.6%, while horse racing betting dropped by 28.4%.

Poker and Bingo Revenues on the Rise

Poker revenue climbed 4.0% from last year to €28.5m, accounting for 8.1% of the quarterly total. Increases were reported across both tournament and cash games during the period. Meanwhile, bingo revenue saw a substantial increase of 24.9% to €4.2m, or 1.2% of the whole Spanish market. However, revenue from contests plummeted by 99.4% to around the €2,000 mark.

Increased Marketing Expenditures

The increase in revenue comes as operators spend more on marketing. Total expenses in Q1 hit €112.8m, an increase of 14.9% from the previous year. Of this total, €55.7m was spent on promotions, €41.8m on advertising, €14.3m on affiliate activity, and €1.1m on sponsorship. Notably, total marketing spend was 1.0% lower than in Q4 last year.

It was also revealed that total deposits were 15.9% higher than in Q1 of 2023 at €1.09bn. Withdrawals climbed 13.9% year-on-year to €740.0m, while new accounts increased by 33.6% to 446,586. These figures indicate a growing trust and engagement among players in the Spanish online gambling market.

By the end of Q1, there were 78 licensed operators active in Spain. This includes 50 offering casino, 41 betting, nine poker, four bingo, and two contests.