Spanish gambling spending equals 3% of country’s GDP

Spain’s gambling market accounted for 3% of the country’s gross domestic product last year, according to a new report.

Thursday saw the release of the fifth annual Spanish gaming market report from the Codere Foundation and the Carlos III University of Madrid’s Institute for Policy and Governance (IPOLGOB).

The report claims total land-based gambling spending in Spain hit €25.5b in 2015, nearly 6% higher than in 2014. Spending at Spain’s regulated online gambling sites enjoyed a far more significant uptick, rising nearly one-third to €8.56b, with nearly half (€4.2b) coming via sports betting. State lottery sales improved 4% to €8.78b.

Despite 2015 lacking a marquee football event like the 2014 FIFA World Cup or Euro 2016, combined land-based and online sports betting turnover was up 41.3% to just under €5.4b in 2015, of which 78% was wagered online.