Slots Give Massive Boost to Spain’s Online Gambling Market
As many question whether or not online slots gambling should be available in various states, we see a great example in Spain’s online gambling market this quarter. Spain has allowed slots for quite a while now, but it was not until this past summer that the Direccion General de Ordenacion del Juego (DGOJ – Spain’s online gambling market regulator) finally issued the first online slots licenses. Twenty-nine different slots licenses have been awarded over this past year and many casinos responded by offering their own online slot options.
According to the DG0J, online gambling profits over the past quarter were €84.2m. Online gambling made up nearly 60% of this while €18 million came directly from the casinos. This was an increase of 114% earnings from previous years, nearly doubling each casino’s income.
Many believe that this is due to the amount of marketing such as advertising, sponsorship, and promotion that the online slots have received. The DGOJ reported that operators spent almost 200% more during the third quarter on advertisements which helped bring total earnings to €18 million. Nonetheless, it is clear that the addition of the 29 online gambling slots licenses more than doubled casino revenues.
At such a drastic increase on Spain’s online gambling market, it is not a question of whether or not slots would benefit any given state. Adding online slots as an option will be sure to increase state revenue by a large amount. Currently, both New Jersey and Delaware already offer online slots options while Pennsylvania has a bill in processing that would allow for online slots as well.
Online slots gambling could be just the thing that the economy needs to boost revenue and regain interest in old school entertainment games such as slots.
Once slots become available in more states, people will begin to see the impact that it has on the online gambling market as well as state revenue. At that point, it won’t be long before many more states follow suit. So if you love slots, the odds are in your favor that online slots gambling may be available in your state before you know it.
