According to the text of the new proposal, the funding is warranted due to an additional provision to the text of Spain’s gaming law 13/2001 which was passed in May 2011. According to the text of the bill, a percentage obtained from betting should be returned to sport and sports competitions organised in Spain. However, the funding has not been appropriated. In addition a percentage of all horse race betting should be returned to the organisers of horse race betting which in turn would help improve the state of the local horse racing industry.
The text of the proposal, which was put forward by Deputy Spokesman of the party, Antonio Roldán argues that revenue generated by sports betting in 2015 amounted to more than €4,200m and almost €5,000m in 2016 while the horse racing industry remained in a "critical situation” despite the success that the industry has enjoyed in "nearby counties where it generates employment and wealth. ”
The initiative urges the government to develop the regulation as the text of the law states that via sports betting the government should be able to secure "sufficient” and "sustainable” funding for the the development and promotion of both amateur and professional sports as well as the participation of Spain in international competitions. In addition the law states that "resources are available to be able to pursue and prevent conduct that damages the integrity of sport, especially in relation to illegal betting and the manipulation of sports results in competition and doping.”
Rodrigo Gómez, spokesman for sports within the Cuidadanos Party said that sports betting was "taking advantage of sport” and that it would be much fairer if the industry gave back something.
According to the latest statistics
published by the General Directorate for the Regulation of Gambling Affairs
(the DGOJ), Sports betting generated €1.27b in Q4, marking an increase of 7.7 %
from the same quarter in 2015. Sports betting accounts for 44 % of online
revenue with poker making up 14 %, casino 40 % and bingo for 0.65 %.
Source: GMB / G3Newswire
