Spain Introduces €50 Million Fines for Online Casinos Failing to Protect Vulnerable Players
In an attempt to minimize the negative impact of online gambling, Spain decided to introduce new regulations and fines. Operators will now face €1 million or €50 million fines depending on the severity of their violations if they fail to protect vulnerable players.
Under the new regulations, all players aged 18-25 fall into the ‘vulnerable’ category. This age group can have up to €200 net losses in three weeks before they are flagged as ‘at-risk’ customers. For older players the threshold is €600.
‘At-risk’ players aren’t allowed to deposit using credit cards. Casinos must contact them warning of their risky behavior and provide detailed reports of their gambling activities. If casinos get no response from the players within 3 days, their accounts must be suspended.