|A new study of the Spanish gambling market, undertaken by consulting firm MECN, has promoted Spain as a potential key region for future growth for both the online and land based gambling industry.|
The report highlights the potential for imminent growth over the coming years particularly within the retail betting sector and online gambling, as companies eagerly search for new markets following the collapse of online enterprise in the US.
UK based betting firm William Hill has already begun its expansion into Spain, whilst Ladbrokes is reportedly working on a market entry strategy that could see it join its British counterpart in the near future. Spanish football has also seen a number of its major teams sign sponsorship deals with online gambling companies as online operators look to less restrictive regions.
Martin Oelbermann, co-author of the study, explained, 'In nearly all of our surveys and interviews the operators mentioned Spain as a particularly attractive jurisdiction for future expansion.'
So why Spain? The report highlights a number of factors as to why the Spanish market would appeal to foreign online operations, not least because major players such as William Hill already have joint venture agreements in place.
However, one of the country’s primary attractions is that many of its regions are currently working towards the liberalisation of its gambling market which is expected to grow to around €39 billion by 2010.