What impact does the casino industry have on the economy?

In the Spanish entertainment sector, games of chance and the casino in Spain are very important and have had a strong impact on the country’s economy in recent years. Above all, due to the boom that the industry has experienced, caused by online gaming and some games such as sports betting and poker.

Tradition in Spain means that one of the most played games is the lottery. While it is true, online casinos and other online modalities are gaining more and more followers. This occurs because the internet allows you to play from anywhere and at any time.

But, how has been the evolution of this sector and its importance in the Spanish economy? We will explain it to you below.

Origins of the gaming industry in the country

The origins of this industry could be located in the National Lottery, whose first edition was held in 1763. Its birth occurred as a way to obtain funds for the State, something that is still in force today.

As we have said, another important pillar in the gaming industry is the casinos in Spain. These types of games have been part of society for centuries.

Although it was in the Middle Ages when the first gambling halls are dated. This type of places, in Spain, has undergone an evolution, although they also experienced delicate moments in the dictatorships of Primo de Rivera and Francisco Franco. It was already in the democracy, when the openings of casinos were popularized throughout the country.

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One of the things for which online gaming has stood out the most is because of the high impact of the industry on the country’s economy. In other words, it has a positive impact on the state coffers.

According to numerous studies, the gambling sector moved about 40 billion euros per year and its representation in the national GDP is approximately 0.9%.

Online gambling alone generated some 749 million euros per year in 2019, according to data provided by the General Directorate for the Regulation of Gambling (DGOJ). The growth of the sector in the last year was 17.7%, reaching 208.0 million euros, in just the second quarter of 2020.

Employment generated by the gaming industry

In addition, another of the plots in which the gaming industry has an impact in Spain is in employment. In 2018, more than 84,700 Spaniards obtained direct employment in this sector (as workers in sports betting sites or in casinos), although approximately 167,000 jobs were also generated indirectly.

importance of the internet

As we have indicated before, the game has penetrated the Internet considerably. This has led to the use of new advertising and marketing strategies, with the intention of better promoting themselves among users.

What is clear is that, with its more than 2,000 years of history, the gaming sector has gone through many times of decline. But the truth is that he has managed to overcome the difficulties and it seems that he is in a moment of splendor today. Digitization has had an impact on the success of the industry, generating more employment and, therefore, a greater impact on the country’s economy.

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Did you know the importance that the gaming industry has not only in the economy of Spain but of any country?

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