Allows for operators to expand their offer in the Spanish market
Spain's Dirección General de Ordenación del Juego (DGoJ) has informed the official approval of regulations for exchange betting and online slots with publication in the official Government gazette.
The legislation is in line with Denmark, Italy and the United Kingdom's regulated gambling market standards said the Ministry of Finance and Public Administration, strengthening the online gaming market in Spain while protecting vulnerable groups, increasing tax revenues and fighting fraud.
Without slots and betting exchange, Spain's restricted online casino vertical accounted for Euro 8.7 million of the regulated market's total online revenue of Euro 66.9 million in the first quarter of 2014.
The new online products are scheduled to launch on January 1, 2015. The slots and exchange betting licenses will be valid for five-year terms with five-year renewal period possible.
Unfortunately the Spanish government remains adamant that the 25 percent tax rate will applied to slots revenues.
Online Casino News Courtesy of Infopowa