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Legal Online Poker & Gambling in Spain

by PokerPages.com
Mon, Dec 18th, 2006 @ 12:00am

Spain, like the UK and Italy, decided that there is much to be gained from regulating online gambling. Last Friday Spain announced that it will allow gaming in regulated locations, specifically including online ones.

The potential revenues are high, especially how legal wagering in Italy alone is close to 30 billion Euros. Now Spain is looking forward to a similar cash flow, that otherwise would be barely accounted for.

Spain's new law might also shrink illegal betting.

Under the new law, people from Spain now can legally place bets and wager over the phone and online. All bets over 1Euro will be legal to be placed online.

Madrid will issue licenses that last for five years, renewable once all conditions are met.

Licensing will include regulations to prevent the participation of problem gamblers, the underaged and mentally ill people.

Most of the largest Euro online-poker concerns are expected to apply for an official Spanish license.

 

 

 

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