Spanish Betting Market Expanding

Now Spanish residents are able to bet in Spain’s first sports betting shop (under the joint venture’s Victoria brand) opened last week. Before that Spaniards had to go online to bet on sporting events.

Gleaming with chrome and glass, Victoria’s new shop which is located above a Codere casino, Madrid, offers comfortable sofas and a bar. The shop, having a completely different look from the British bookie, has been made a more attractive destination for women. With the change of the image of a betting shop, people will gradually change the perception that betting is a male-only activity.

It must be noted that Madrid authorities have banned wagering on religion and politics. That’s why Madrid residents will bet on social events and TV competitions.

Opening of a sports betting shop in Madrid is just the beginning of the growth of the Spanish gambling market. British bookie William Hill and Spanish gambling firm Codere plan to open 70 sports betting shops – that is only across the Madrid area, the first of Spain’s 17 regions to grant licenses. They expect the Spanish betting market to grow to 39 billion euro, which is equal to $57.8 million, by 2010.

But the Victoria brand won’t be the only one presented in Spain. Last week Greece’s Inralot got a license. Then, Austrian firms Bwin and Betbull are planning to open a joint franchise as well, while Gala Coral has been in talks with potential Spanish partners for 6 months.