Spain Open the Games for 91 Online Gambling Operators
Spain has finally released a list which details the identity of the online gambling sites that are now fully licensed in the country. There has been much speculation in recent weeks over which online gambling giants would make the grade in the financially broken country, but the wait is now over as the official list cleared recently.
A total of ninety one gambling licenses were issued by the General Directorate for the Regulation of Gambling following the adjustment to the Spanish gambling laws at the beginning of June. Under the changes of law, Spain now regulates the online gambling scene and any other forms of gambling that may be present including mobile gaming, and gambling made through television.
The National Gaming Commission also set up distinct fields for licenses, which each online gambling company had to request individual licenses for in order to operate in the country. It has been confirmed that these fields are considered to be more like genres, including casino, bingo, poker and online sports betting.
The new licenses come in two forms. There are the general gambling licenses which are valid for a total of ten years before renewal, and single gambling licenses which count for only a single gambling game and last for a predetermined duration of between one and five years. The Spanish National Gaming Commission has made it clear that should any general license be revoked or renounced, then all single licenses would be removed also.
Amongst the list of successful online gambling companies that have been awarded licenses include Codere, Electraworks, Gamesys, Giga Game, Interwetten, Ladbrokes, Paddy Power, Prima and Rank.
It is widely reported that such companies that now hold licenses will be annually held to a 10%-25% Spanish profit tax on their incomes. Horse racing however is deemed separate and will automatically be taxed at 25% when it is played with fixed odds with sports betting being taxed at roughly 22%.
All in all 91 general licenses were issued by Spain along with 186 single licenses joining them. It is now clear that all of these licenses are spread unevenly amongst a total of fifty three different online gambling companies that are now permitted to operate in the country. With the return of regulated gambling to Spain, many online gambling companies are looking for a quick positive turnaround despite the fact that Spain has record unemployment and many of its population are perilously close to financial ruin. It is thought that the influx of tourists in Spain may help to kick-start the newly licensed gambling companies business in the country.