Sportingbet Receives Spanish Online Gaming License

When it comes to the online gambling world, Spain is one of the most profitable markets in Europe. Millions of players across the country take part in online poker and online sportsbetting activities, generating billions of dollars per year. Now, the market has been opened up to international operators and the first set of licenses has been awarded – and Sportingbet has received one.

Out of nearly 60 companies that applied for online sportsbetting licenses, Sportingbet is the first to receive one. Spain is one of the company’s biggest online gambling markets, so it is very important that Sportingbet receive a license in order to continue operating within the country.

As part of its new licensing agreement, Sportingbet has agreed to pay $22 million in back taxes to the government. This provision was included, as Sportingbet continued to operate in the country while the legislation was still being planned; as such, the company was required to pay taxes for this period of time.