The Dirección General de Ordenación del Juego (DGOJ), Spain’s national gambling regulator, has released financial results for the second quarter of 2025. The latest figures show broad year-on-year increases in the Spain iGaming market, though several areas experienced declines compared to the first quarter of the year.
Overall Financial Results
Gross gaming revenue (GGR) for Q2 stood at €410.26 million, reflecting an 18.6% increase from the same period in 2024. Quarter-on-quarter, the rise was modest at 2.79%. Deposits reached €1.35 billion, a 23.7% jump compared to last year, while withdrawals grew 28.9% to €962.9 million. However, relative to Q1, deposits dipped slightly by 0.36%, while withdrawals edged up 0.63%.
The regulator also noted that the average number of active gaming accounts in Q2 came to 1,704,178. This represented a 21% increase year-on-year but marked a 2.4% decrease from the previous quarter. New accounts totaled 504,853, 11.7% higher than in 2024, though this category fell 11.6% compared with Q1.
Segment Distribution and Market Shifts
Breaking down GGR by segment, casino operations dominated the market, generating €216.37 million, or 52.74% of total revenue. Sports betting followed closely, producing €171.40 million, or 41.78%. Poker accounted for €19.11 million (4.66%), while bingo represented €3.37 million (0.82%).
The sports betting vertical posted contrasting results. Year-on-year, revenue was up 18.21%, but growth compared to Q1 was limited to 2.73%. Traditional fixed-odds pre-match wagers grew 24.55%, while in-play betting saw a sharp quarter-on-quarter drop of 33.24%. Other fixed-odds betting surged 51.9%, and horse racing improved by 3.22%.
Casino games, on the other hand, recorded consistent strength. The vertical was up 6.53% from Q1 and almost 26% year-on-year. Slots drove this performance, surging 33.58% compared to Q2 2024. Quarter-on-quarter improvements were also observed in blackjack (9.49%), slots (6.98%), live roulette (5.61%), and conventional roulette (0.47%).
Poker results painted a less positive picture. Compared to Q1, poker GGR fell 25.11%, while the year-on-year decrease was 25.23%. Tournament poker dropped by 32.04% quarter-on-quarter and by 37.09% annually, whereas cash poker slipped 5.95% from Q1 but showed 19.75% growth against 2024. Bingo experienced a 6.9% decline from Q1 and a 6.4% annual drop.
Marketing and Operator Landscape
Marketing investment totaled €164.5 million during the quarter, marking a 37.08% year-on-year rise but a 0.2% decline from Q1. Spending was divided among advertising (€62.91 million), promotions (€82.64 million), affiliation (€13.99 million), and sponsorship (€4.96 million). Sponsorship increased sharply by 52.98% compared to Q1, while promotions fell 6.63%. Year-on-year, sponsorship skyrocketed more than 311%, with strong gains also seen in advertising (42.96%) and promotions (33.21%).
Industry observers have linked part of this growth to the return of welcome bonuses, which were reintroduced in 2024. According to the regulator, gambling participation expanded by more than 20% last year, and that upward momentum appears to have continued into 2025.
As of Q2, Spain had 77 licensed operators, with 64 of them maintaining at least one active license. These included 42 in betting, four in bingo, 52 in casino, two in contests, and nine in poker.
Source:
“Summary T2-2025, Dirección General de Ordenación del Juego“, ordenacionjuego.es, September 19, 2025