Spain Tells Gambling Operators to Stay Shut

Clarifying on the May 16 order, the DGOJ explained that casinos and betting agencies were excluded from the offer. Public gaming concessions will remain shut, the DGOJ clarified, with any operator “located within shopping malls or commercial parks, without direct and independent access from public roads,” not allowed to open.

Any restart of gambling activity in the country should be ordered by the state and the regulator. This comes in a context of continuous growth for the Spanish gambling industry, which has seen close to $20 billion placed in wagers in the period between 2014-2020.

Spain has also seen a spike in cryptocurrency operations, not necessarily related to gambling. The government and tax office have sent letters of notices to crypto owners as a reminder that their assets, even though not formally under government control or recognised as a mainstream bank asset, were still subject to taxation.

Speaking of cryptocurrency, and Spain’s growing gambling landscape, the introduction of crypto casinos is not too far-fetched. Markets such as Latin America and Brazil are already exciting interest and investors are looking for suitable opportunities to diversify their investments.

Spain itself is also a market that can benefit from the arrival of crypto casinos. The online gambling revenue generated in 2019 amounted to almost $760 million, sending a clear sign that Spain’s growth in the igaming sector has continued unchecked.

However, it’s also worth noting that Spain’s newly appointed Minister of Consumer Affairs Alberto Garzon has been pushing back against the further spread of gambling, calling for more consumer protections.

Looking for your next crypto casino? Check out: Bitcasino, 1xBit or FortuneJack.

Written by Tudor

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