Spain's online gambling market opened 2026 on firm footing, posting €454.16 million in gross gaming revenue for the first quarter — a 13.94% year-on-year increase, according to the latest quarterly report from the DGOJ (Dirección General de Ordenación del Juego). The quarter-on-quarter picture was softer, with GGR declining 6.46% from Q4 2025, a seasonal pattern typical of the post-football-winter period.
Casino Anchors the Market
Casino remains the undisputed engine of Spain's regulated online sector, accounting for 54.56% of total GGR at €247.79 million. Its 21.77% annual growth rate outpaced every other vertical, and it was the only segment to also register a quarter-on-quarter gain — up 2.44% versus Q4 2025.
Within casino, slot machines led the charge with a 22.68% annual uplift. Live roulette (+4.90%) and conventional roulette (+5.77%) also advanced sequentially. Blackjack was the sole notable exception, slipping 1.43% quarter-on-quarter.
Sports Betting: Annual Gains, Quarterly Pressure
€454.16M
Total Q1 2026 GGR
13.94%
Year-on-Year GGR Growth
€247.79M
Casino Segment GGR
54.56%
Casino Share of Total GGR
21.77%
Casino Annual Growth Rate
22.68%
Slot Machines Annual Uplift
Sports betting generated €174.47 million, representing 38.42% of the market. Despite a 5.13% year-on-year increase, the segment absorbed a sharp 17.21% sequential decline — largely driven by a 33.62% quarterly drop in conventional pre-match wagering.
In-play betting provided a meaningful counterweight, growing 3.22% quarter-on-quarter. Other exchange-style bets rose 7.39%, and horse racing posted a robust 33.03% sequential gain, though its absolute scale remains modest.
In-Play vs Pre-Match: Where the Resilience Lies
The 33.62% quarterly collapse in conventional pre-match wagering versus in-play's 3.22% sequential gain reveals a structural shift in Spanish bettor behaviour. Operators allocating product development and promotional budgets disproportionately toward live betting interfaces — including streaming integrations and real-time cash-out tools — are better positioned to defend revenue during low-fixture-density quarters like Q1.
Poker Grows Annually, Bingo Stagnates
Poker contributed €28.29 million (6.23% share), with 10.88% annual growth partly offset by a 2.91% sequential decline. Cash game play edged up 2.07% quarter-on-quarter, while tournament formats fell 4.60%.
Bingo remained the weakest segment at €3.61 million (0.79%), posting declines both annually (-0.43%) and sequentially (-4.22%), signalling continued structural pressure on the format.
Bingo's Structural Decline vs Poker's Mixed Signals
Bingo's combined annual and sequential decline — the only segment to fall on both measures — positions it as a format under genuine structural pressure rather than seasonal fluctuation. Poker's divergence is more nuanced: cash games held up sequentially (+2.07%) while tournaments fell (-4.60%), suggesting player preference is shifting toward lower-variance, session-based formats. With only 4 active bingo licence holders versus 9 in poker, consolidation risk in bingo is considerably higher.
User Base and Deposits Expanding
Active account volumes continued to grow. The monthly average of active accounts reached 1.89 million — up 8.90% year-on-year and 4.72% quarter-on-quarter. New account openings averaged 185,200 per month, an 11.01% sequential improvement, though still 2.87% below Q1 2025 levels.
Deposits rose 17.66% annually and 5.64% sequentially. Withdrawals grew even faster, up 19.46% year-on-year and 9.19% quarter-on-quarter — a pattern suggesting improving player liquidity and trust.
Withdrawals growing faster than deposits — up 19.46% annually versus 17.66% — is not a warning sign but a confidence signal: players are converting balances into cash, suggesting trust in platform liquidity and withdrawal reliability is strengthening across Spain's regulated market.
Marketing Spend Climbs, Affiliate Budgets Surge
Total marketing expenditure reached €184.75 million, up 12.05% year-on-year. Promotional spend dominated at €91.05 million, followed by advertising at €73.58 million, affiliate marketing at €17.44 million, and sponsorship at €2.67 million.
Affiliate budgets saw the sharpest growth at 30.28% annually, with advertising close behind at 23.22%. Sponsorship, by contrast, contracted 17.61% — a potential indicator of shifting operator strategy in brand-visibility channels.
Of 77 licensed operators, 61 held at least one active singular licence. Casino led with 52 active operators, followed by sports betting (44), poker (9), bingo (4), and contests (2). The broader push by unlicensed operators into regulated markets adds further context to why Spain's licensed sector is investing heavily in acquisition channels to retain its competitive position.
€184.75M
Total Q1 2026 Marketing Spend
€91.05M
Promotional Spend
€73.58M
Advertising Spend
€17.44M
Affiliate Marketing Spend
30.28%
Affiliate Budget Annual Growth
23.22%
Advertising Budget Annual Growth
-17.61%
Sponsorship Spend Change YoY
77
Total Licensed Operators
61
Operators with Active Singular Licence
Reading the Signals for the Rest of 2026
The quarterly dip in GGR should not obscure the structural momentum. Casino's consistent outperformance — growing both annually and sequentially while betting softened — reinforces its role as the primary growth lever for Spanish operators. The 30.28% surge in affiliate spending is equally telling: as competition for active accounts intensifies, acquisition cost discipline will be critical for operators managing margin pressure alongside rising marketing budgets. Whether new account growth, currently still below year-ago levels, can recover fully in Q2 will be a key indicator of market health heading into the second half.
The DGOJ's ongoing €1 million research funding into gaming disorder prevention and Spain's comprehensive gambling law reform consultation both signal that the regulatory environment underpinning this growth will continue to evolve materially through 2026.
Наведена таблиця узагальнює ключові показники кожного ігрового сегмента іспанського онлайн-ринку за Q1 2026, включаючи частку GGR та динаміку відносно Q1 2025 і Q4 2025.
| Сегмент | GGR (€M) | Частка ринку | Зміна YoY | Зміна QoQ |
|---|---|---|---|---|
| Казино | 247.79 | 54.56% | +21.77% | +2.44% |
| Ставки на спорт | 174.47 | 38.42% | +5.13% | -17.21% |
| Покер | 28.29 | 6.23% | +10.88% | -2.91% |
| Бінго | 3.61 | 0.79% | -0.43% | -4.22% |
According to AzarPlus.
