The Spanish Gambling Industry Moves Closer to Privatization

Changes in legislature and the general attitude towards gambling are becoming a matter of inevitability world wide, and Spain is subject to the same feelings as any other country. Interestingly enough, the Spanish gambling industry seems to be traveling in a different direction.

At a point in time when most governments are trying to get their hands into the very large honey pot of gambling revenue, Spain seems to be approaching the issue in a very different manner. In Spain, state lotteries and gambling are moving towards privatization. Two provisions which deal directly with the lottery and gambling were included in general stated budgets that have now passed in Congress.

New Spanish gambling laws and provisions dictate that commercialization of lotteries within Spain, from this point on, be ruled by private law. Due to these changes, more than 4,000 lottery administrations and other similar businesses will be required to change their legal status. The state will cease to control 2% of the well over €30 billion market that would usually go to the Treasury.

Hopes in Spain are that this step towards privatization will cut back on the corruption in the government among officials that deal with the gambling finances, some of whom earn a double salary.

The Spanish gambling market is booming as Spain is one of the most gambling nations in Europe. Spaniards spend twice as much on gambling as is spent in the UK. Internet gambling did not rise in popularity until just a few years ago. At this point online gambling is almost completely legal, but some work still needs to be done on the subject. Online gambling sites in Spain will be plentiful once the government starts granting licenses.