GiG Applies for Spanish Gambling License

December 19, 2018 Staff Writer Industry News 275

Gaming Innovation Group (GiG) has applied for Spanish B2C license and is planning to launch casino and betting products in the market in the second half of 2019.

GiG has taken this step as a part of its expansion strategy into regulated markets. GiG will certify its B2B technical platform and offer its services and solutions to external licensed operators in Spain. When they enter the Spanish market in the second half of 2019, they will launch both their B2B and B2C offering.

GiG Going Big

As a technology company providing solutions, products and services throughout the entire value chain in the iGaming industry since 2012, GiG is connecting operators, suppliers and players to create the best iGaming experience.

In addition to licenses in Malta, UK, New Jersey, Germany, the company has two pending licenses in Sweden. Under the terms of Gambling Act, the Swedish gambling market will be open in January 2019 and gambling subjects will be taxed 18%. The Svenska-Spel monopoly will end and the competition will be fierce. GiG has recently launched a new payment option for players in Sweden, Finland and Germany, Trustly’s Pay and Play.

Considering the fact that GiG covers all the verticals in the iGaming value chain, the company is very well positioned for the market opportunity in Spain. It supports operators’ growth with its full turnkey solutions and with cutting-edge services, products and solutions which can be optimized for bespoke operator requirements.

Spanish Numbers

Spain has one of the largest per capita spending in Europe when it comes to gambling, and has consistently grown in the past 20 years.

Since the country regulated online gambling in 2011, the offline to online transition further drew growth, mostly in sports betting. Online gambling accounted for 10% out of total gross revenue $10 billion in 2017.

The prognosis is this number will increase until 2023 up to 15%. Since gambling is an important part of Spanish culture, the country is finding ways into syncing regulation relating to responsible gaming and gambling advertising, in line with other regulated markets, increasing player safety and market sustainability.

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