“Let’s talk about Spain,” said Altenar COO Dinos Stranomitis, as the sportsbook provider prepares its team for this month’s SBC Summit Barcelona (September 21–24).
Speaking on the first episode of Season 2 of ‘Coffee Break’ with Altenar, Stranomitis noted that certification for sports betting operators in Spain is “a little bit tougher” than in other countries.
“In comparison with other jurisdictions, we have quite a few rules that we need to respect and ensure we follow — at least more than in other jurisdictions.”
In the video, he refers to a specific rule that players working with regulated operators in Spain should be aware of, particularly in the country’s popular in-play betting space.
“Before the match starts, you need to fund your wallet if you plan to place live bets on that event. The amount available in your wallet at the start of the event is all you can use.
“After the game begins, you cannot deposit and use that money during the same match. Any deposits made after kickoff will only be available for future events. This rule doesn’t exist in any other jurisdiction.”
Picking up on another example that highlights the regulatory complexity of operating in Spain, Stranomitis told SBC News: “The second point is that any event management change involving wallet transactions must be approved by the regulator before it can be released to operators. This definitely adds another layer of bureaucracy to the process.”
Sports betting remained the primary source of GGR for operators in Spain last year, despite a 7.1% year-on-year decline to €365.1 million, according to data released by the national gambling regulator Dirección General de Ordenación del Juego (DGOJ) in March.
Stranomitis will take the stage during a Leaders Panel at SBC Summit Barcelona on the topic “Navigating a New Institutional Operating Environment,” where he’ll join Genesis Global CEO Ariel Reem and CEGO CEO Allan Auning-Hansen to discuss how rapidly evolving market conditions — including those in Spain — are reshaping the operational landscape.
“We’re really excited to be part of the Leaders Panel at SBC Summit Barcelona,” he concluded. “It gives us the opportunity to showcase how we’ve raised the bar to meet our customers’ expectations, as we continue to be recognized as a high-quality provider.”
