Market Monitor: Spain Q3 2020
Key Takeaways
  • Online poker in the regulated Spanish market generated $23 million in revenue in Q3.
  • July and August continued the trend of previous months, up 25% year-over-year, while September dipped, down 6%.
  • In Q3 2020, 72% of all revenue generated came from tournament tables, a big swing from 67% in Q2 and 66% in Q3 2019.

Online poker in the regulated Spanish market generated $23 million in revenue in Q3 2020.

While a dip on the previous two quarters, it represents strong 12.4% growth year-over-year, is the third highest quarter on record, and is the best Q3 in market history.

When broken down by month, notably July and August continue the trend of previous months, up 25% year-over-year, while September dipped, down 6%.

This is the first month down year-over-year since February 2020, just prior to the outbreak of coronavirus in Europe. This could indicate the pandemic-fueled market growth has finally ended. However, it lapped a particularly strong September 2019—in fact, the best single month on record to date—so it could well be a one-month anomaly.

For the year Q1 through to Q3, regulated online poker operators have generated over $85 million, more than any prior full year on record.

The move from cash games to tournaments has accelerated. In Q3 2020, 72% of all poker revenue came from tournament entry fees, a big swing from 67% in Q2 and 66% in Q3 2019. In fact, revenue from cash game rake dropped in absolute revenue terms, down 7%, with tournaments more than picking up the slack, up 22%.