|Irish online betting group Paddy Power is set to augment its German foreign language gambling website in Spanish focusing primarily on football.|
Paddy Power said that the new website will be unlike its internet operations in the UK, Ireland and Germany, which focus primarily on horse racing, and that it has already begun the process of recruiting Spanish-speaking staff.
The bookmaker said that it is hoping to have the new site functioning in time for the start of the Spanish football season in September and that it may also open a number of betting shops in the Madrid area.
Spain has grown of late into one of the most appealing destinations for large bookmakers with firms such as William Hill and Betbull recently establishing joint venture agreements with many more expected to follow. Paddy Power is hoping to take advantage of the lucrative Spanish sports betting market.
Experts estimate that $30.53 billion is spent on gambling in Spain each year and this is expected to grow to $52.5 billion by 2010. Online gambling in Spain is expected to be worth over $5.7 billion by 2010 and over half of Paddy Power's $60 million profit was generated through online operations last year.
Paddy Power’s Chief Executive, Patrick Kennedy, made it known earlier this year that the company was examining expansion opportunities in other nations as well including Italy, Poland and Portugal.