Analysing Spain’s €7.4 billion gaming market in 2023
The Directorate General for the Regulation of Gambling has released its 2023 report on the gaming industry, showing a total Gross Gaming Revenue (GGR) of €7.4 billion. Online gambling and casinos led the way in growth, while lotteries and land-based betting experienced slower gains or slight declines. As the industry continues to evolve, digital channels are becoming increasingly dominant, while traditional sectors like lotteries and land-based betting may need to adapt to shifting player preferences.
State lotteries, run by organisations such as SELAE (Sociedad Estatal Loterías y Apuestas del Estado) and ONCE (National Organization of the Blind), remain the most lucrative sector in the Spanish gaming industry. In Spain, in 2023, the GGR from state lotteries amounted to an impressive €4,994 million. SELAE contributed the majority with €3,796.1 million (76 percent), followed by ONCE with €1,142.3 million (22.9 percent).
However, this represents a decrease from the previous year. In 2022, the GGR for lotteries was €5,127 million, indicating a reduction in 2023. Despite lotteries remaining a key player, their share of the overall gaming market faces increasing competition from other sectors.
Lotteries generated a GGR of €4,913 million from a total spend of €12,499 million by players, reflecting a GGR-to-spend ratio of 39.3 percent, proving that lotteries continue to perform efficiently. Although the GGR dropped slightly from 2022, the lottery segment remains highly effective at converting player spend into revenue.
Online gambling continues to be a primary growth driver for Spain’s gaming industry. The total GGR for online gaming reached €1,270 million in 2023 in Spain, a notable increase from €989 million in 2022. Casino games dominated the online market, accounting for 49.2 percent of the GGR, while betting made up 41.3 percent.
Casinos’ GGR raised to €1,001 million from €825 million in 2022. Table games attract more and more players, and accounted for 49 percent of the GGR, compared to 34 percent in 2022. Conversely, machine games’ share dropped from 66 percent to 51 percent.
Additionally, Spain saw an increase in the number of land-based casinos, with 50 establishments in 2023 compared to 47 in previous years, as three new casinos opened in the Balearic Islands.
Casinos generated a GGR of €1,001 million from a total player spend of €21,589 million, yielding a GGR-to-spend ratio of 4.6 percent. While casinos saw substantial player activity, the revenue generated relative to the total spend was modest, though improved from 2022’s ratio of 4.7 percent.
Betting, both online and land-based, had a mixed year. The total GGR for betting amounted to €989 million, a slight increase from €824 million in 2022. Online betting saw strong growth, with GGR rising from €459 million in 2022 to €605 million in 2023, while land-based betting generated €385 million, up from €366 million the previous year.
However, the number of physical betting shops declined, falling from 927 in 2022 to 674 in 2023. This drop suggests a waning interest in land-based betting, despite the growth in online channels.
Betting recorded a GGR-to-spend ratio of 8.3 percent in 2023, compared to 6.3 percent in 2022.
Moderate growth for bingo
Bingo games saw moderate growth in 2023, with the GGR reaching €391 million, up from €326 million in 2022. Most of this revenue came from land-based bingo halls (€377 million), with online bingo contributing the remainder. Despite this growth, the number of bingo halls slightly declined, with 323 venues in 2023 compared to 324 the previous year.
Bingo achieved a relatively high GGR-to-spend ratio of 20.1 percent, making it a strong performer in terms of generating revenue relative to player spend, especially compared to other verticals. This ratio improved slightly from 2022’s 17.6 percent, underscoring bingo’s consistent appeal to players, particularly in land-based venues.
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