Spanish Ministry to Reinforce Player Protection Efforts in 2021
Spain's Ministry for Consumer Affairs has set out its concerns to further reinforce online gambling ordinances in 2021, following considerable changes in 2020.
This will expect the regulator to apply advertising restrictions implemented in 2020, as well as changes to regulatory fees for licensees.
The efforts will also look to complete the consolidation of the state's autonomous region's self-exclusion lists, as well as having new social duty measures extended to cover certain online games.
Spain's Minister also said that implementing new rules for action, control, intervention, awareness-raising, prevention, and gamer safeguarding would be a top priority for 2021.
The new legislation is being developed alongside the state's Responsible Gambling Advisory Council, which is comprised of operators, lawmakers, civil servants, and academics.
Advertising restrictions for the online gambling industry were declared in January last year, including regulations on the online gambling and advertising of gambling at the state level, "similar to those of tobacco products."
Regulations implemented in February saw gambling advertising on television and radio restricted between the hours of 1:00 AM and 5:00 AM, with added restrictions on direct and online advertising subsequently brought forward in April.
It was then declared that sports sponsorships by gambling operators must come to an end at the conclusion of the 2020-21 season, with the Ministry for Consumer Affairs informing all teams in the country of the censorship.
New Growth Comes Amidst Debate Surrounding New Restrictions
Casinos' bonus payments fell considerably in the second quarter because of restrictions on these kinds of payments from the end of March to the beginning of June that was brought due to tautened advertising regulations.
Tragaperras casino operators paid out a total of €12.5m in bonuses, which corresponds to a decline of 57.3% compared to 2020.
These new stiff policies originated from a cross-party agreement between Consumer Protection Minister Alberto Garzon and Spanish Prime Minister Pedro Sanchez requesting the Spanish government to be more moderate.
The majority of the tragaperras players have welcomed the new measures. Still, concerns have been raised over the efficiency of a sponsorship restriction as this could push hard-hitters towards unlicensed operators.
Why is Online Betting in Spain Getting Popular?
With the fast-paced innovation in the online casino world, it's sometimes challenging to keep up. Not only that but the constant updates that seem to trigger the interest of numerous players, it comes as no surprise why it is getting so popular. This echoes true for online casino games, becoming more and more popular as time passes, particularly in countries like Spain.
A great majority of Spaniards think positively of betting compared to other types of entrainment. This is even more apparent with the rise of online casinos offering a wide range of bets. With online gambling, players have the ability to choose where and how to place their bets on different sports and games, rather than being limited to a certain game. As such, there are certain platforms that offer all types of bets and games under one virtual roof, allowing casino enthusiasts to look no further.
Reports show that nine out of ten Spanish adults regularly participate in gambling, even before online websites were opened. The ease of being able to place bets anywhere they may be, anytime they choose, made online casinos even more popular with the Spanish population. As such, players are guaranteed that they're able to jugar tragaperras gratis and place a wager even if they're still in their pajamas. Not only that, but they also have the ability to place bets quicker as there is less actual paperwork involved, without stubs or tickets that they need to keep track of.
Reduced Financial Risk
Even Spaniards indulge in gambling - as statistics show, there is a very low number of players who encounter certain gambling issues. Online betting even reinforces this with a diminished risk wherein players can only wager on the amount they have in their accounts. This constraint only allows casino enthusiasts to play with money that they can lose.
Since bettors have to deposit into their accounts in order to place a bet, they have more control over their capital. But with more control over their bankroll, there is less pressure to win, paving the way for them to simply enjoy the game, yet with a certain prize at stake. A more enjoyable and relaxing form of entertainment is what makes online betting even more popular in Spain.
Spain's law regarding gambling is now more compassionate, with increasingly more gambling operators providing online betting services. With a wide range of online platforms wherein players can compare their odds, they have a much greater chance of having the advantage or the edge. The reason behind this is that with the right know-how on which platform offers the best odds to win, they will be able to find the best online gambling platforms before ever placing a single bet. That's another aspect that makes the online gambling industry more popular in the country.
With more hassle-free laws in Spain, it follows that companies are able to advertise. In some instances, advertisements are even done mid the highlight of the game. However, players need not worry as they have the flexibility to bet even while the game is in progress, which is up to a certain point. That's not possible in traditional venues, and as a result, bettors opt for online platforms, increasing their popularity.
Access to Information
Spanish people are famous for being regular bettors, which makes them keen on exercising an extra effort to ensure that they have an advantage before placing their bets. But online casino platforms, bettors have full access to information on the site, particularly those who rely on figures and statistics to make their decisions. Aside from this, online players have access to more markets, allowing them to look for the best line, ensuring their odds of getting a certain revenue.