Spain online gambling GGR reaches €405 million in Q3 2025

Spain’s regulated online gambling sector continued its overall expansion in the third quarter of 2025, with the market generating gross gaming revenue (GGR) of €405.36 million. While quarterly figures show modest pressure compared to Q2 2025, the year-on-year growth remains robust, reflecting continued interest in online gaming products across the country. The period saw casinos and poker gain traction, whereas sports betting and bingo experienced mixed results.

The data provides an in-depth perspective on market trends, player behaviour and marketing strategies, highlighting both short-term adjustments and long-term growth patterns within Spain’s gambling landscape.

Quarterly market performance

During July to September 2025, Spain’s online gambling GGR reached €405.36 million, marking a slight decline of 1.35% compared to the preceding quarter. However, the figure represents a 16.49% increase year-on-year, illustrating the sector’s resilience and consistent growth trajectory.

The quarter’s figures indicate a period of relative stabilisation following more dynamic growth in previous quarters. Operators appear to be navigating short-term market fluctuations while continuing to benefit from broader annual expansion.

Player deposits and withdrawals

Player monetary activity remained broadly stable across Q3 2025. Total deposits for the period increased 18.19% year-on-year, while withdrawals grew by 16.82% over the same timeframe. When compared to Q2 2025, deposits were effectively unchanged, registering a minor decrease of 0.03% and withdrawals declined by 2.70%.

These trends suggest a cautious approach by players during the summer months, potentially influenced by seasonal factors or shifting gaming preferences. Despite this short-term moderation, the strong annual growth reflects sustained engagement in the regulated online gambling market.

GGR breakdown by vertical

Analysis of GGR by vertical reveals that casino products continue to dominate the Spanish online gambling ecosystem.

• Casino generated €230.98 million, accounting for 56.98% of total GGR
• Betting contributed €149.50 million or 36.88%
• Poker produced €21.71 million, representing 5.36%
• Bingo remained marginal at €3.18 million, equating to 0.78%

The data confirms the structural importance of casino offerings, particularly slot machines and live dealer games, which have become central drivers of revenue.

Betting trends and dynamics

The betting vertical experienced a 13.02% decline quarter-on-quarter, despite recording a 10.00% increase compared to Q3 2024. Within this segment, conventional fixed-odds sports betting dropped sharply by 42.98%, while in-play betting saw a substantial increase of 32.82%. Other fixed-odds bets rose by 23.85%, whereas horse racing betting declined 9.07%.

This divergence highlights a clear market shift toward live and alternative betting formats. Players appear to prefer interactive, real-time wagering options, while traditional fixed-odds sports bets face declining engagement.

Bingo continues to contract

Bingo remains the weakest performing vertical in Spain’s online gambling market. GGR from bingo fell 5.92% quarter-on-quarter and 13.48% year-on-year, reflecting a continued decline in popularity. The segment represents a minimal share of the overall market and shows limited signs of recovery in the short term. Analysts suggest that bingo’s appeal may be constrained by younger players gravitating toward faster, more interactive formats such as slots and live casino games.

Casino growth and product trends

Casino GGR recorded a 6.67% increase compared to Q2 2025 and a notable 22.93% rise year-on-year. Growth was largely driven by slot machines, which experienced an annual increase of 27.78% and a quarterly rise of 8.54%. Live roulette also grew by 4.20% quarter-on-quarter, while conventional roulette decreased by 8.00% and blackjack fell by 3.22%.

These figures underscore the market’s continued preference for fast-paced and immersive gaming experiences. The strong performance of live casino games reinforces operators’ focus on creating engaging, real-time interactions that emulate physical casino environments.

Poker records moderate expansion

Poker maintained a consistent upward trajectory during Q3 2025. GGR from poker increased 13.59% quarter-on-quarter and 5.80% year-on-year. Cash games grew by 8.82% compared to the previous quarter, while tournament poker rose 15.98%. Over the annual period, cash poker increased 12.91% and tournament games grew by 2.76%.

The data indicates steady interest in both casual and competitive poker formats, with operators benefiting from the combination of real-money cash tables and structured tournaments. Poker’s growth highlights the vertical’s ability to retain dedicated player segments and attract new participants.

Marketing expenditure trends

Total marketing spend in Q3 2025 reached €154.84 million, representing a combination of promotional offers, advertising, affiliate programs and sponsorship initiatives. Breakdown of marketing spend included:

• €82.03 million in promotions
• €54.65 million in advertising
• €15.86 million in affiliate costs
• €2.30 million in sponsorships

Marketing expenditure decreased 6.00% quarter-on-quarter but increased 17.89% year-on-year. Specific trends within the quarter showed affiliate spending rising 13.40%, while sponsorship fell 53.61%, advertising declined 13.14% and promotional spend decreased 1.01%. Promotional activity included €28.57 million released as prizes and €53.46 million allocated to other forms of promotions not directly awarded as prizes.

The data reflects strategic adjustments by operators to optimise marketing budgets, balancing customer acquisition with cost efficiency. Promotions and bonuses remain central to player engagement, particularly in competitive verticals like casino and poker.

Active and new player accounts

The average monthly number of active player accounts stood at 1,657,963, representing a 2.73% decline compared to Q2 2025 but a 14.32% increase year-on-year. This indicates healthy long-term growth despite modest seasonal fluctuations.

New account registrations averaged 153,286 per month, down 8.92% quarter-on-quarter but effectively stable with a 0.07% increase year-on-year. These figures suggest that while short-term recruitment of new players may slow, the overall market continues to attract fresh participants over the longer term.

Implications for the Spanish online gambling market

The Q3 2025 performance demonstrates the maturity and resilience of Spain’s online gambling sector. Casino and poker growth provide a solid foundation for revenue, while declining segments such as bingo and conventional sports betting highlight areas requiring strategic innovation.

Operators are increasingly prioritising live and interactive formats to engage players and sustain interest. Marketing strategies are being refined to target high-value customers and improve retention while optimising costs. The continued increase in deposits and overall GGR confirms the enduring appeal of regulated online gambling in Spain, even amid seasonal fluctuations and changing player preferences.

Outlook for Q4 2025

Looking ahead, the Spanish online gambling market is expected to maintain steady growth into the final quarter of 2025. Live casino, poker tournaments and innovative betting formats are likely to drive further engagement. Operators may continue refining marketing strategies, particularly in promotions and affiliate partnerships, to maintain a competitive edge.

Meanwhile, declining verticals such as bingo may require reinvention or repositioning to regain relevance. Regulators and industry stakeholders will also closely monitor market dynamics to ensure responsible gambling practices and continued consumer protection.

Conclusion

The third quarter of 2025 underscores Spain’s online gambling market as a dynamic and resilient sector, capable of balancing short-term fluctuations with long-term growth. Casino and poker remain the principal drivers of revenue, reflecting evolving player preferences for faster, interactive and immersive gaming experiences. Meanwhile, segments such as sports betting and bingo highlight the ongoing need for innovation and adaptation as players gravitate toward live formats and alternative offerings.

The patterns observed in deposits, withdrawals and active player accounts suggest a mature market, where operators must carefully calibrate marketing strategies and promotional initiatives to sustain engagement while maintaining cost efficiency. Marketing spend, though slightly lower than the previous quarter, demonstrates a strategic focus on retaining high-value players and fostering long-term loyalty.

Looking ahead, Spain’s online gambling ecosystem appears well-positioned to continue its steady expansion, supported by regulated growth, technological innovation and responsive market strategies. As operators refine their offerings and adapt to shifting consumer behaviour, the sector is likely to witness further consolidation around interactive formats, live casino experiences and poker tournaments, ensuring that Spain remains a leading player in the European online gambling landscape. The combination of robust regulatory oversight and evolving player demand will continue to shape a market that is both profitable and sustainable, delivering opportunities for operators and engaging experiences for players.

FAQs

What was Spain’s total online gambling GGR in Q3 2025?
Spain’s online gambling market generated €405.36 million in gross gaming revenue during Q3 2025.

Which vertical contributed most to GGR in Q3 2025?
Casino products dominated the market, contributing €230.98 million, representing 56.98% of total GGR.

How did betting perform in Q3 2025?
Betting declined 13.02% quarter-on-quarter, though it increased 10.00% year-on-year, with live and alternative formats showing growth.

What is the status of bingo in Spain’s online gambling market?
Bingo remains the weakest vertical, with GGR declining 5.92% quarter-on-quarter and 13.48% year-on-year.

How did poker perform in Q3 2025?
Poker GGR increased 13.59% quarter-on-quarter and 5.80% year-on-year, with cash games and tournaments both showing growth.

What was the total marketing expenditure in Q3 2025?
Operators spent €154.84 million on marketing, including promotions, advertising, affiliate costs and sponsorships.

How many active player accounts were there on average?
The average monthly number of active player accounts was 1,657,963, down 2.73% quarter-on-quarter but up 14.32% year-on-year.

Did new account registrations increase in Q3 2025?
New registrations averaged 153,286 per month, down 8.92% quarter-on-quarter and broadly stable year-on-year.

Which casino games drove growth in Q3 2025?
Slot machines and live roulette were key growth drivers, while conventional roulette and blackjack declined.

What are the market expectations for Q4 2025?
The market is expected to maintain steady growth, driven by live casino, poker tournaments and innovative betting formats.