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 The Spanish government has been working to pass online gambling regulation on the national level for quite some time and they are finally making progress. The Council of Ministers has approved the draft bill on new gambling regulations and it will soon be debated and voted on by legislatures.
The bill will regulate many forms of online gambling including casino games, poker and sports betting. It defines the various activities to be regulated and specifies the requirements that need to be met for each type of gambling to take place. The bill when enacted will create a regulatory body within the State Administration Services, which will be responsible for issuing licenses and monitoring operator compliance. The Spanish Gaming Commission will also be responsible for granting permission for advertising, promotional, and sponsorship activities carried out by the licensed operators.
Those who violate the act or offer gambling services without a license will face heavy fines ranging from €100,000 to €50,000,000.
The First Vice-President of the Spanish Government confirmed that online gaming takes place routinely in Spain and is not currently subject to tax. The Spanish Association of Internet Bettors (AEDAPI) estimates that the industry made approximately €315 million last year catering to Spanish players and each year that goes by without legislation means millions in lost taxes.
The Spanish government has expressed its commitment to submitting the bill to Parliament within the next few weeks and if everything runs smoothly industry experts estimate that the bill will reach the EC sometime in July.
As always, stay tuned to Casinofan for more news and updates.
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