Sports betting is huge in Spain. Some analysts even say the Spanish market is bigger than that of the home of online sports betting, the United Kingdom. As an example, €5 billion were bet in Spain in 2017, an amount that has not stopped growing every year.
However, it is only quite recently that the government decided to regulate the arena, resulting in changes for both the bettor and the bookmaker.
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Sports betting has been legal in Spain for more than 30 years, but until the Spanish Gambling Act was passed in 2011 the country’s 17 autonomous communities oversaw betting of all forms. The pressing need for national coordination and harmonization in regulating online sports betting resulted in the Gambling Act.
As a result of the Act, operators providing betting services to people in Spain must obtain a license from the country’s National Gambling Commission. The license grants the bookmaker the right to operate in the Spanish market, but demands the payment of taxes and use of a “.es” domain.
It is also illegal for Spanish bettors to play with operators who do not hold such a license. However, there is no shortage of choices with many of the world’s largest gambling organizations setting up “.es” domains to welcome Spaniards to their services.
BETTING TAXES IN SPAIN
There have been interesting developments in the area of gambling taxation in the recent years. Citizens of Spain are obliged to declare their betting winnings as taxable income, but they are now allowed to deduct their losses from their winnings! This is great news for professional sports bettors, who were, up until recently, taxed on their gross winnings from which they were not entitled to deduct their losing stakes. This legislation provides a great reason to bet with a licensed operator, and an opportunity for pros to earn some solid profits, and operate in a safe and regulated environment at the same time!
Finding the best bookmakers for value betting in Spain can be time consuming and confusing, which is why we’ve compiled a list of our recommended sportsbooks!
The largest bookmaker in the Spanish market, BWIN is undeniably the juggernaut of Spanish betting.
Since their sponsorship of Real Madrid almost 15 years ago, BWIN has continued to dominate the market and is a must for Spanish bettors.
Bwin is a real giant of European gambling, and a bookmaker that millions of bettors trust. They welcome players from Spain and you can get a 100% bonus up to €200 just for signing up!
One of the most famous names in the world of sports betting, William Hill is also one of the biggest names in the Spanish market.
In addition, they offer a great signup bonus for new customers with the chance to cash out a €200 bonus.
Thanks to their market leading betting exchange, betfair is also another big name in the sports betting world. It can also be argued that they are one of the best sportsbooks in operation.
At the moment, they’re offering a €100 signup bonus for new, Spanish players!
Bet365 is one of the biggest sportsbook operators in the world. Not only does it accept players from Spain, but it also gives them a welcome present. It currently comes in the form of a 100% matched deposit bonus up to €100.
These three are just the tip of the iceberg of bookmakers currently available for Spanish sports bettors. The list of Spanish-friendly bookmakers is long. Create a Trademate account for free (click here) and start beating the bookmakers!
One way to explore the Asian bookies is by creating an account at a betting brokerage such as Sportmarket, which will give you access to several bookmakers at once. By signing up to one such brokerage you open the door to several sharp Asian bookmakers, which all have more competitive odds than the soft bookmakers.
If you’re looking to trade on the Asian market, our product Trademate Pro will give you access to value bets with the best sharp bookmakers and betting exchanges in the world.
To learn more about why you should use sharp bookmakers, click here.
There are great opportunities to earn good money on sports betting while based in Spain. Several bookmakers strive to attract Spanish customers, and therefore offer great service and deals. Although you need to pay a gambling tax, you’re entitled to deduct your losses from your winning bets, greatly improving the opportunity of making some solid profits! In addition, the licensing system provides a safe betting arena for you as a sports trader.
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