Spain Gambling Revenue Hits €350.7m in Q1 2023 Surpassing Previous Quarters

Published on: June 4, 2024

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Spain's gambling revenue reached €350.7 million in the first quarter of 2023, exceeding the figures from previous quarters.

Quarterly Revenue Overview

Spain's online gambling revenue increased to €350.7 million in the first quarter of 2023. This is an increase from the €313.3 million made in the same period the previous year. It is also more than the €315.3 million earned in the fourth quarter of 2023.

Revenue by Segment

The casino generated €167.8 million in the first quarter, making it the main source of income. This amount is 47.8% of the total market revenue. The quarterly total increased by 17.0% compared to the same period last year but decreased by 2.1% compared to the fourth quarter.

Sports betting earned €150.3 million, making up 42.9% of the total revenue for the quarter. This is a 15.4% increase from the first quarter last year and 31.0% more than the fourth quarter.

Poker revenue increased by 4% from last year, reaching €28.5 million. This makes up 8.1% of the total revenue for the quarter.

Bingo revenue went up by 24.9% to €4.2 million, making up 1.2% of the entire Spanish market. In contrast, revenue from contests sharply fell by 99.4%, barely reaching €2,000.

Highlights

Casino revenue: €167.8 million
Sports betting revenue: €150.3 million
Poker revenue: €28.5 million
Bingo revenue: €4.2 million
Contests revenue dropped 99.4% to around €2,000

Breakdown of Casino Revenue

Year-on-year casino growth was helped by:

15.0% rise in slots revenue
22.2% rise in roulette revenue

Blackjack and roulette also saw an increase.

Sports Betting Details

Within sports betting:

Pre-match betting activity increased by 588.8% year-on-year
In-play bets were down 31.7%
Other bet types edged up 1.6%
Horse racing betting dropped 28.4%

Marketing Spend and Deposits

Operators spent more on marketing in Q1. Total expenses hit €112.8 million, a 14.9% increase from the previous year. Here is the breakdown of marketing spend:

Promotions: €55.7 million
Advertising: €41.8 million
Affiliate activity: €14.3 million
Sponsorship: €1.1 million

Total deposits in Q2 2023 were €1.09 billion, which is 15.9% more than Q1 2023. Withdrawals were €740 million, a 13.9% increase from the previous year. New accounts grew by 33.6% to 446,586.