Online gambling market opening up in Spain

Madrid is paving the way for online casinos and poker sites to operate in Spain now that the regional government has decided to license and regulate online gambling businesses.

The regional government announced that it was approving licenses for business that will last for five years and be renewable as long as the regulations are met. It will also allow for minimum €1 bets in game locations, over the telephone and online.

The new regulations cover sports betting as well as casino, poker and bingo games.

The regulations that gambling businesses will have to follow in order to get and maintain a license include strict procedures to prevent the participation of young and mentally ill people.

Many businesses have already been poised to enter the online gambling market in Spain. William Hill Poker, PartyPoker.com and Paradise Poker could soon be open to Spanish players as their owners seem to be the frontrunners to vie for licenses.

Those same companies have already jumped into the Italian market which also just recently opened up its gambling market for licensing and regulation.

Related Article: Study Shows Big Online Gambling Growth Potential In Spain