Binary Options vs Sports Betting in Spain

BinaryOptionsNow | Published on May 30, 2017 at 9:52 pm

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Binary options and sports betting have been in the spotlight in Spain. Although it is hard to estimate the true size of each of the markets, we would like to make the overview of the two industries in this article.

Spanish Binary Options Market

Binary options offer one of the simplest and most attractive ways to access the financial markets. In Spain, binaries have been marked with high success. As for the legal recognition of the binary trading, it is deemed as a completely legit pursuit.

CNMV, the Spanish Securities Market Commission, does not directly regulate the binary options industry. This is because there is simply no law that enables CNMV to act as the local regulator for the binary market. It remains somewhat unclear, however, if CNMV has enough power to impose any sanctions on the binary brokers in case of fraud or any other illegal activity. It seems that MiFID regulation is still a sort of milestone for the Spanish binary market.

The binary options industry in Spain may grow substantially in the nearest future. As Brexit is looming, CNMV has recently developed the program which is targeted at facilitating the access to the single market for the financial services providers. This includes binary options brokers too. Many brokerages considering changing the location in the post-Brexit time and Spain can turn out to be the perfect destination. For example, FCA-regulated brokers will be able to transfer their credentials to the Spanish applications. In the long-term perspective, the government wants to make Spain a great financial hub.

sports betting in spain

What about sports betting?

Sports betting and eSports betting in Spain has an official status confirmed by the Spanish Gambling Act. Spanish citizens can place bets without any problems, provided that they deal with the operators registered at the Direccion General de Ordenación del Juego (DGOJ).

The industry of sports betting is definitely booming in this part of the world. Last year, Euro 2016 and the Olympics took place and they played a significant role in the growth of sports betting revenues in Spain. If you take the Q2 2016 online-gambling report published by DGOJ, you will learn that the revenues have increased by around 70% year-on-year. At the same time, the number of active Spanish players has risen by a remarkable figure of 32%. As for the total wagers, their amount equals to €1,35 billion. If we break down this number, we can identify that €392.1 million was wagered on the traditional sports betting. Live in-play betting can boast of the following figure – €906 million in wagers. Additionally, Spanish punters placed bets worth €20,1 million on the horse racing. Lastly, we should also mention that the betting operators earned around €53.5 gross in the revenues.

Spanish sports betting market is definitely heading to become one of the largest in Europe. It hosts various international sportsbooks, including Bet365, Betfair, 888 Sport and BetVictor.

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