Betfair confirms Spanish gaming licence

Online betting exchange Betfair has confirmed it has received an online gaming licence from the Spanish government.

The move had been anticipated since the end of May but the decision sees the final stage of a process begun in the Spring of last year, when Spain's new gambling legislation was first introduced.

Following the receipt of the initial licences, Betfair's Exchange will be made unavailable to Spanish customers, who will be transferred to Betfair's new sports-book until exchange licences are issued.

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The company, along with its peers, will pay a gross gaming tax of 25% on its Spanish business, having already paid out around €10m in respect of operations between 2009 and 2011.

The likes of Ladbrokes, 888 Holdings, bwin.party digital and Sportingbet announced they had won Spanish e-gaming licences on June 1st.

BS