The decision by the regional government of Madrid to allow minimum
Euro 1 bets in games venues as well as telephone and online bets,
covering sports and other competitions, as well as allowing internet
bets on bingo and casino games is another step toward an increasingly
practical approach to regulated gambling in Europe.
The licenses issued by the Spanish capital will last for five years,
renewable if the Madrid regulator's conditions are met. Licensing
will also include strict regulations to prevent the participation
of problem gamblers, the underaged and mentally ill people.
Madrid's decision sets a national example and comes in the wake of
Italy's decision to regulate gaming, which prompted a flood of applications
from UK bookmakers and online companies such as Ladbrokes, William
Hill and Gala Coral, who are also expected to bid for licenses in
Madrid along with Sportingbet and Party Gaming in the online sector.
Moves to regulate instead of restrict the betting market by Italy
and Madrid are in sharp contrast to the attempts by other European
nations to limit betting by banning online gaming and legalizing onshore
betting only for state monopolies.
The new regulated market in Italy has opened up 17 000 licenses to
the private sector. The country's online betting market is currently
estimated at Euro 3.7 billion (GBP 2.5 billion). All legal gaming,
including the Italian lottery, pools, betting, bingo and machine gaming,
is worth Euro 28 billion.