LeoVegas secures official gambling license in Spain

3 Jul 2019

Leo Vegas gets Spanish licenseThe Swedish operator LeoVegas has managed to enter its seventh locally regulated gambling market, since it officially received its Spanish gaming license a few days ago. The Stockholm-based operator is now legally allowed to provide both online sports betting and casino services to punters in the Spanish market.

LeoVegas has not disclosed yet a specific date for the launch of its Spain-based online betting site. Nonetheless, it guaranteed that the site is expected to be ready very soon.

LeoVegas CEO, Gustaf Hagman, stated that the Spanish online gambling market has a steady growth of more than 20% every year. Therefore, the gaming license that they received is a decisive step forward towards their continued endeavour of expanding their brand in other Spanish-speaking markets. As a matter of fact, he said that they have already done some test launches in Chile and Peru.

Since the online gambling market in Spain is worth about €1bn, LeoVegas says that it has really high potential.

It is also worth noting that only 13% of Spain’s gambling takes place online according to the official figures deriving from the Spanish Gambling Authority. However, the online casino vertical has risen about 20% in Q1 compared with the corresponding one of 2018, with this division representing approximately 35% of the online market it total.

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LeoVegas Sport is slightly new in the sportsbook industry, but they already knew that they had to follow the steps of their successful casino heritage. They mainly target the Nordic market, but I would like to see them broaden their reach even more. The bookie's impressive improvement is shown through the doubling of its depositors within a 12month time frame, reaching 200.000 active customers. The odds, especially in Premier League, can be compared to Bet365's and as it was expected, the mobile services are their powerhouse, while Kambi's presence as the creator of the platform guarantees stability. LeoVegas will have to add more payment methods to be more flexible and speed up the slow withdrawal process. Although they have to work more on the live betting part, they are a book that's definitely a keeper.

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