The Q1 total was comfortably ahead of €313.3m in the same period last year. It is also more than the €315.3m generated in Spain in the final quarter of 2023.
Casino remains the primary source of revenue, generating €167.8m in Q1, or 47.8% of all market revenue. The quarterly total was 17.0% higher than last year but 2.1% behind Q4.
Year-on-year casino growth was helped by a 15.0% rise in slots revenue and 22.2% rise in roulette revenue. Growth was also reported across blackjack and roulette.
Elsewhere, sports betting revenue amounted to €150.3m, representing 42.9% of overall revenue for the quarter. This is 15.4% higher than Q1 last year and also 31.0% ahead of Q4.
Within this market, pre-match betting activity rocketed by 588.8% year-on-year but in-play bets were down 31.7%. Other bet types edged up 1.6% while horse racing betting was down 28.4%.
As for other segments, poker revenue climbed 4.0% from last year to €28.5m, accounting for 8.1% of the quarterly total. Increases were reported across both tournament and cash games during the period.
Bingo revenue hiked 24.9% to €4.2m, or 1.2% of the whole Spain market. However, revenue from contests dropped 99.4% to around the €2,000 mark.
Marketing spend rises 14.9% in Q1
The increase in revenue comes as operators spend more on marketing. Total expenses in Q1 hit €112.8m, an increase of 14.9% from the previous year.
Of this total, €55.7m was spent on promotions, €41.8m advertising, €14.3m affiliate activity and €1.1m sponsorship. Incidentally, total marketing spend was 1.0% lower than in Q4 last year.
It was also revealed that total deposits were 15.9% higher than in Q1 of 2023 at €1.09bn. Withdrawals climbed 13.9% year-on-year to €740.0m, while new accounts increased 33.6% to 446,586.
By the end of Q1, there were 78 licensed operators active in Spain. This includes 50 offering casino, 41 betting, nine poker, four bingo and two contests.
Original article: https://igamingbusiness.com/finance/spain-online-gambling-revenue-rises-in-q1/
