With former world No. 1 golfer Jon Rahm, both men and women as reigning European football champions and the quadruple grand slam tennis sensation Carlos Alcaraz among its acolytes, there’s no doubt that Spain plays an outsized role on the international sporting stage; but when it comes to online sports betting it’s definitely both a hit and miss–más y menos–affair.

According to the latest figures released today by the Spanish Directorate General for Gambling Regulation (DGOJ), sports betting revenue in this nation of 47.8 million was up by just over nine percent in Q2, year-on-year, to €145.5 million (£121.55m) – but down 3.2 percent compared to the immediate prior quarter.

Even pre-match football Gross Gaming Revenue (GGR) was down by 10.3 percent in the quarter — despite June seeing the start of Euro 24, where Spain’s national team were among the favourites (and deserved eventual winners, comprehensively out-classing a timid and lacklustre England in Berlin on July 14).

Horse racing, in this nation where the word for gentleman, “Caballero”, is synonymous with horseman, but lacks the cachet of the sport in, for example, France, Ireland and England, was similarly down; by 12.3 percent.

Emasculated

Overall, online GGR in Spain for Q2, ending June 30, topped €346.3 million (£289.25m), nearly 11 percent up on the same quartile of 2023 but, again marginally, 1.2 percent, lower than the first quarter of this year.

Once again, iCasino ruled the online gaming space in the country, generating some 49.6 percent of all Q2 revenue or €171.7 million (£143.4m) — representing a year-on-year increase of 14.6 percent, but a 2.3 percent decline compared to Q1.

Slots, surprise-surprise, pulling nearly 20 percent of online casino revenue, were the most popular vertical; while live roulette was also up, by 9.6 percent.

Online poker revenue fell by just under one percent to €25.6 million (£21.38m), year-on-year, and was 10.2 percent less than in Q1.

Bingo, always a popular pastime here, ticked up by almost two percent, y-o-y, to €3.6 million (£3m). But in a repeated pattern across the iGaming gamut fell, significantly, by 13.9 percent, compared to Q1.

Although Spain’s Supreme Court emasculated a number of virulent anti-gambling advertising laws earlier this year, given the latest financial figures, it is still too early to predict untrammelled success for this nation’s otherwise vibrant iGaming industry.

It remains in true Iberian fashion a “más o menos” venture.