I love gaming and traveling. This means that I never miss out on an opportunity to redeem a Party Casino bonus code, nor do I shy away from trying out different casinos in different countries, especially if they are exotic and online. The country I am interested in today is Spain. How does it treat its gaming customers? What are the rules and regulations?
Licenses and Domains
The regulations take us by surprise right at the start, by demanding certain procedures be honored in order to procure a gambling license. This license is issued by Spain’s National Gambling Commission. It cannot be transferred to another person, or company.
In order to open an online business, the base of operations must have a Spanish domain. So, if you want to open a casino in Spain, you must register your website, so that it ends in .es. Furthermore, casino owners must make sure all business conducted redirects to Spanish locations, domains, or user accounts. That way, the gambling procedure is very closely monitored, especially online. For, in order to open an online casino, you must ask for permission from not only the Spanish government, but also the autonomous region within which you wish to operate.
Who and Why?
The reason for numerous, and surprisingly effective, rules is that the Spanish government wanted to make sure all gambling activities are closely monitored. Gambling in Spain is regulated via the Gambling Act, brought about in 2011. It focuses on regulating gambling through all of the media that’s available. A number of secondary acts goes into further detail. All we need to know is that gambling in Spain, as such, is regulated not only by the government, but also by the regional authorities.
The purpose of the Gambling Act is to unify all of the regulations, rules and authorities, and make them work together towards better gaming regulation. So far, it is proving effective.
Because gambling is heavily regulated in Spain, outsiders are not allowed to offer services to the Spaniards. The international gambling regulations don’t apply to Spain – they simply do not allow foreign operators to offer betting services. The same could be said for the situation prior 2011, when the Gambling Act was introduced, but then the authorities had no way of regulating or blacklisting such gaming activities, even though gambling with foreign companies was considered akin to smuggling.
Types of Betting
There are three types of betting allowed and regulated in Spain:
- Exchange betting;
- Fixed-odds betting; and
- Pool betting.
Exchange betting is a type of bet where the operator is also a broker. Basically, the person offering you the opportunity to bet effectively bets against you. In Fixed-odds betting, there is a number assigned to each participant in the event. This number shows the relationship between money invested and gained, as well as the likelihood of winning. Finally, Pool betting is a kind of wager where the deposit is fixed, and the winners share the profits equally.