Spanish online gambling report: Q1 2024 GGR up 15.1%
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Spain's online gambling market rebounded in Q1 2024 with 15.1% growth year-on-year, driven by sports betting and casino games.
The Spanish online gambling market experienced strong recovery in the first quarter of 2024, as reported by the Directorate General for the Regulation of Gambling (DGOJ).
Gross gaming revenue (GGR) reached €350.7m ($381m), marking an 11.2% increase compared to the previous quarter and a 15.1% increase year-over-year. This growth marks a turnaround from the 3% decline reported in Q3 2023, which saw a GGR of €304.3m.
The rebound was reportedly fueled by growth in the betting segment, which saw a 31% quarter-over-quarter increase and constituted 42.9% of the total GGR in Q1 2024, compared to 36.4% in Q3 2023. This growth was driven by an increase in pre-match betting, which grew 588.8% quarter-over-quarter, offsetting a decrease in in-play sports betting.
The casino segment also contributed to the overall growth, with a 17% year-over-year increase. Slots and live roulette were the primary drivers within this segment, experiencing 15% and 22.2% year-over-year growth, respectively.
Despite the positive overall growth, some segments experienced declines. Notably, poker saw a slight decrease of 2.1% quarter-over-quarter, while bingo and contests remained relatively flat compared to the previous quarter.
The Q1 2024 results demonstrate a resilient market that has successfully adapted to previous fluctuations. Player engagement remained strong, with deposits and withdrawals increasing by 15.9% and 13.9% year-over-year, respectively. The number of new accounts also grew by 15.2% quarter-over-quarter, indicating continued interest in online gambling in Spain.
However, marketing expenses decreased by 1% compared to the previous quarter, suggesting a more conservative approach by operators despite the overall market growth.
This positive growth in the Spanish online gambling market comes despite a decrease in GGR in Q3 2023, which was attributed to fluctuations in sports betting and other verticals. The Q1 2024 figures suggest a return to growth for the market, driven by increased player activity and sustained interest in casino games and sports betting.
