Spain follows Italy & UK into licensing betting
December 6th, 2006
Spain is the latest country to embrace online gambling as Madrid’s regional government is set to regulate gaming through the introduction of licenses.
The move comes in the wake of Italy’s decision to regulate gaming, which prompted a flood of applications from UK bookmakers and online companies such as Ladbrokes, William Hill and Gala Coral, who are also expected to bid for licenses in Madrid along with Sportingbet and PartyGaming in the online sector.
Madrid’s regional government announced that it was allowing minimum €1 bets in games locations as well as telephone and online bets, covering sports and other competitions, as well as allowing internet bets on bingo and casino games.
The licenses will last for five years and be renewable if the Madrid regulator’s conditions are met. The announcement will also include strict regulations to prevent the participation of young and mentally ill people.
Italy’s new regulated market has opened up 17,000 licences to the private sector. There will be 7,000 new sports betting shops and 10,000 outlets for betting on horseracing.
Italy’s legal betting market is estimated to be worth €3.7bn (£2.5bn) while all legal gaming, including the Italian lottery, pools, betting, bingo and machine gaming, is worth €28bn.
Entry Filed under: Bookie News & Bonuses,Sports Betting
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