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Main Provisions of the Gambling Ordinance in Spain
The Spanish Gambling Act 13/2011, established to regulate the burgeoning online gambling industry, contains several key provisions:
- All operators must obtain a license from the DGOJ before offering gambling services in Spain. It includes domestic companies and foreign entities aiming to penetrate the Spanish market.
- The Act focuses on protecting players. It sets limits on bets and losses to prevent addictive gambling behaviors. These limits help promote responsible gambling habits.
- Operators must keep players' funds separate from their operational funds to keep players' funds safe. It guarantees that players' funds are protected if an operator faces financial difficulties.
- The Act has strict age verification processes to prevent underage gambling. By implementing these measures, the Act aims to protect vulnerable individuals and ensure that only legal-aged (+18) individuals can gamble.
- The Act also addresses money laundering and fraud in the gambling industry. It includes anti-money laundering procedures and enhanced due diligence requirements for operators.
- Operators are required to have transparent advertising practices under the Act. It means disclosing the risks, providing information about the odds of winning, and clearly stating the terms and conditions. By promoting transparency, players can make informed decisions about their gambling habits.
With these provisions, the Spanish Gambling Act ensures that players can gamble online confidently, knowing they are protected and have the necessary information to make responsible choices.
