Data from the Dirección General de Ordenación del Juego (DGOJ), a regulatory body, shows that overall gaming revenue fell 14.8% to €204.4m. Nevertheless, there was a 16.3% growth from the previous quarter.

Despite record-breaking stakes growth of 5.3% year-on-year to €7.41bn, revenue declined. A total of €769.8m was deposited, an increase of 4.3% year-on-year and 7.1% quarter-on-quarter.
Even though the stakes were much higher in 2021, revenue was down. This pattern continued the following year.

By vertical, sports betting remained a low earner with €65.2m, down 40.9% from Q1 2021 but up 49.1% from Q4.

As in the second half of 2021, sports betting stakes remained high at €3.06bn, an increase of 10.6% year-on-year. A margin of only 2.1% is implied by this in terms of sports betting. All sports had modest margins, but horse racing had the lowest at 1.4%.

Conversely, house-banked casino gambling did rather well, increasing revenue by 11.5% year-on-year to €111.0m. In all, €64.9m (an increase of 1.2%) came from slot machines, while €34.3m (a decrease of 5.2%) came from roulette. With a 4.7% increase, the stakes for the vertical reached €3.72bn.

income from poker was €20.5m, down 2.0% from 2021, and income from bingo was €3.6m.

In addition, DGOJ data demonstrated the effect of the country's extensive advertising bans. The marketing budget shrank by 27.7 percent to €107.9 million from the previous year.
Affiliate marketing saw an 84.0% increase to €22.7m as a result of less limitations. Following its effective ban, sponsorship spending plummeted from €9.4m to €632,784 and traditional advertising spending plummeted to €34.4m. 

Operator investment fell 10.5% to €50.7m, although free bets remained the top means of marketing.