The Spanish gaming regulator, Dirección General de Ordenación del Juego, has released its financial report for Q2 of 2025. Results showed strong year-on-year growth, although quarter-on-quarter performance was more mixed.

Deposits in Q2 totaled €1.35 billion representing a 23.7% increase compared to the same period last year. Withdrawals also followed this trend, rising 28.9% year-on-year to €962.9 million. Gross gaming revenue (GGR) reached €410.3 million, marking an 18.6% annual increase. New player accounts grew by 11.7% to 504,853 in total following a 37.1% rise in marketing spend.

Quarter-on-Quarter Trends Show Mixed Results

While the annual figures were strong, quarter-on-quarter growth told a different story. GGR rose by 2.8% compared to Q1 2025, but deposits fell 0.4%, marketing declined 0.2% and new accounts dropped by 11.6%.

Average monthly gaming accounts in Spain during Q2 stood at 1,704,172. This figure represented a 21% year-on-year rise but fell 2.4% from the previous quarter. Analysts suggest that heavy marketing helped sustain engagement despite slower momentum.

Casino and Betting Dominate Revenue

Casino gaming remained the largest revenue source in Spain’s regulated market. Casino activities accounted for 52.7% of GGR, equating to €216.4 million. Sports betting followed with 41.8% totaling €171.4 million. Poker generated €19.1 million, while bingo contributed €3.4 million.

Casino GGR showed massive growth, climbing 6.5% compared to Q1 and rising 26% year-on-year. Slot machines drove this performance with annual growth of 33.6%. Other categories such as blackjack, live roulette and conventional roulette also grew, though by less than 10% quarter-on-quarter.

Sports betting displayed contrasting trends. The segment rose 18.2% quarter-on-quarter, but the year-on-year increase was just 2.7%. Pre-match bets surged 24.6%, while in-play betting fell 33.2%. Horseracing recorded modest growth of 3.2% but Bingo continued to struggle, falling 6.4% year-on-year. 

Marketing and Regulatory Factors

A key factor behind the year-on-year surge was the reintroduction of welcome bonuses in 2024. This increased gambling participation by over 20% and the trend continues in 2025. The 37.1%increase in marketing spend for Q2 also played a decisive role in attracting and retaining players.

Spain currently has 77 licensed operators. With deposits and withdrawals climbing over 20% year-on-year, the industry outlook remains positive. However, the quarter-on-quarter slowdown suggests the market might be stabilizing after a period of accelerated growth.