Spain will tighten online gambling rules and limit bets to 700 euros per day by default. The Spanish Government approved changes to the legislation that regulates games of chance, with the aim of protecting consumers and reducing the risk of problematic behavior associated with betting.
According to , the new rules were approved by the Ministry of Social Rights and Consumption and also include a prohibition considered especially relevant: players will not be able to mortgage their house to finance bets or pay debts linked to gambling.
Daily, weekly and monthly limits
The new regime sets a daily ceiling of R$700 for online betting. In addition, there will be default limits of 1,750 euros per week and 3,300 euros per month.
These values apply to the set of accounts that each user has open on the different platforms authorized by the Spanish regulator. In other words, it will not be possible to get around the limits simply by using several operators.
The measure aims to curb excessive spending in a market where, according to Spanish authorities, a significant part of the losses are concentrated in a small group of players.
Users can ask for a raise
The limits will not be definitive. Each player may request a change to the maximum ceiling, establishing a new value.
However, this increase will only take effect three days after the request. Furthermore, users will only be able to request a limit increase every three months.
The intention is to create a period of reflection before allowing higher expenses, avoiding impulsive decisions at times of greater risk.
Prohibition of mortgaging the house
One of the strongest changes is the ban on mortgaging properties to finance online gambling or pay debts related to betting. This measure came into force this Friday.
The objective is to prevent problem gambling situations from putting essential assets, such as housing, at risk. The measure seeks to protect consumers from extreme financial decisions associated with accumulated losses.
The Spanish Government justifies the changes with the need to reinforce player protection and guarantee greater control in a growing sector.
Entry into force next year
Limits on online betting are due to come into force on March 25th next year. Before that, there will be a six-month transition period, starting in September, to allow operators and users to adapt.
During this period, platforms will have to prepare systems to apply the new ceilings and control aggregate limits per user.
According to the Ministry led by Pablo Bustinduy, the changes also seek to ensure more effective supervision and reduce unnecessary transfers of information between operators.
Spanish authorities point out that around a third of users bet on more than one platform. Furthermore, 80% of losses will be concentrated in just 10% of players.
This data helps explain the bet on transversal limits, applicable to all accounts and not just to each platform individually.
The measure, therefore, seeks to prevent users with greater losses from distributing bets among several operators to escape control.
Operators will also have new requirements
The changes also cover the financial guarantees required from online gambling companies to obtain the first license.
The value goes from 2 million to 2.6 million euros. After two years, the guarantee drops to 1.3 million euros, up from the previous amount of one million.
With these changes, Spain aims to strengthen sector regulation, protect vulnerable players and increase platform responsibility. For now, the measure applies to the neighboring country, but it could fuel the debate about limits on online gambling in other European countries.
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