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Copyright © 2006 Poker Pages
HEADLINE: Legal
Online Poker & Gambling in Spain
Body:
Spain, like the UK and Italy, decided that there is
much to be gained from regulating online gambling. Last Friday
Spain announced that it will allow gaming in regulated locations,
specifically including online ones.
The potential revenues are high, especially how legal wagering
in Italy alone is close to 30 billion Euros. Now Spain is looking
forward to a similar cash flow, that otherwise would be barely
accounted for.
Spain's new law might also shrink illegal betting.
Under the new law, people from Spain now can legally place bets
and wager over the phone and online. All bets over 1Euro will
be legal to be placed online.
Madrid will issue licenses that last for five years, renewable
once all conditions are met.
Licensing will include regulations to prevent the participation
of problem gamblers, the underaged and mentally ill people.
Most of the largest Euro online
poker concerns are expected to apply for an official Spanish
license.
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