wo working groups made up of government and industry representatives are being set up to determine a workable strategy which will introduce and maintain a regulated online gambling industry.
The Spanish licenses will likely be for a five year period and, pending regulations being met, an application for a further five year renewal will be possible. The regulations will include safeguards to protect those underage or vulnerable from participating in gambling.
When the Italian online gambling industry was regulated, a flood of license applications were received from major UK and EU online casinos. It is likely these same industry giants will be keen to cast their net over the Spanish market too.
It is rumored that William Hill and Bet Bull/Bwin have already started negotiating their way into the emerging Spanish market, hoping to be big players from the start. There is a great buzz about the potential of the Spanish market and to prepare EU operators, an event, “iGB Espana”, has been organized in Madrid in October 2009.
The conference will clarify the technical and operational requirements of the market and help the industry operate successfully in Spain, as well as potentially identify business partnerships and opportunities.
The legalization and regulation of the Spanish gambling sector should prove lucrative for the government, as has been the case in Italy and the UK. It will also serve to safeguard the Spanish public against unscrupulous gambling sites, including tough punitive measures against those operating without a license. The legalization of the Spanish online gambling scene seems to be a win-win policy for everyone.