The British bookmaker Betfred has revealed that it is to roll out an operation in Spain as part of its ongoing expansion strategy worldwide. The company has shared that it has received an operating license to run an online casino and sportsbook in the country. Both services are to be run from a new office situated in Ceuta.
The player account management and sports betting system is set to be provided by the award-winning sports betting and e-gaming platform OPTIMA. As mentioned above, the operating licence granted to the company by the Dirección General de Ordenación del Juego (DGOJ) would allow Betfred to offer an online sportsbook and casino in the country.
According to Mark Stebbings, the chief operating officer of Betfred Group, the company’s expansion in Spain is an exciting opportunity for the operator, as the Spanish licence has been part of Betfred’s current expansion strategy. Spanish people have been known for their passion for sport, especially football, so the company’s executives believe that the operator brings the necessary expertise and the heritage to be trusted on the expanding Spanish gambling market.
While preparing for its entry into the Spanish gambling sector, last January Betfred confirmed that a new operations hub had been established in the autonomous city of Ceuta to support its already existing operations in Gibraltar. Apart from that, an operation in Spain would undoubtedly help the British gambling company to keep its positions in the region, considering the fact that the fate of BREXIT still remains unknown, and so does the future of Gibraltar as a major gambling hub.
City of Ceuta Offers Gambling Operators Better Tax Conditions
Despite making the announcement for its expansion on the Spanish market, Betfred did not specify whether it intends to roll out a unique local brand that would be specially tailored for local customers or it would launch its services under its flagship brand.
The news for the expansion of the British gambling operator in Spain comes at a time when a number of companies have already been reported to be seeking permission to enter the Spanish gambling sector after the country’s Government has announced new tax cuts for gambling operators.
The Spanish authorities confirmed that they would slash the online gambling tax rate from 25% to 20%. The city of Ceuta that is to host the Spanish office of Betfred, on the other hand, was given permission to offer even lower tax rates to gambling operations, along with lower VAT and corporate tax rates. The gambling tax rate in Ceuta is 10%, and the corporate tax rate is reduced to 12.5%.
For the time being, Betfred operates more than 1,600 retail shops and in the last few years have been building an increased online and mobile presence. The British gambling operator currently has an extensive sponsorship portfolio, including the World Matchplay Darts and the World Snooker Championship. Betfred is also Royal Ascot’s official bookmaker.