RETAbet is targeting rapid expansion in Portugal after securing a licence to launch in the country, adding a third market to its existing operations in Spain and Peru.
The Spain-based operator received its licence from Portuguese gambling regulator SRIJ to launch its sportsbook and online casino offering in the country through retabet.pt.
Speaking to NEXT.io, RETAbet Group CEO Xabier Rodríguez-Maribona described Portugal as a “natural” next step for the company.
RETAbet has operated retail betting shops in Spain since 2008 and has been active online since 2012 under a licence issued by the country’s gambling regulator, the DGOJ. Across the Atlantic, the brand has operated in Peru for five years, where it has sponsored top-flight football club Sport Boys.
“At RETAbet, we prioritise profitable growth,” Rodríguez-Maribona said. “This is not something we say to excuse poor expansion results; it is a guiding principle for our company.
“Over the years, we have expanded first in Spain and then in Peru, always without sacrificing a stake in the business or taking on significant debt to fund our growth.”
The executive said RETAbet had been analysing potential new markets for some time before securing its Portuguese licence. He described Portugal as a nearby jurisdiction offering significant opportunities. The country’s online GGR increased by 13.7% year-on-year to €323.7m during the first quarter of 2026.
Regarding further international expansion, Rodríguez-Maribona said RETAbet continues to assess other markets.
“For now, our focus is on continuing to gain market share in Spain and Peru, while establishing ourselves in Portugal with a strong product and good customer service,” he said.
Innovation, regulation and profitability
Rodríguez-Maribona also rejected the argument that gambling regulation restricts innovation.
“I have worked across several industries, and I believe there are very few sectors where more innovation takes place than in betting,” he said.
“We will continue to see significant innovation in products, processes and services, as well as changes to the competitive landscape worldwide.”
According to Rodríguez-Maribona, regulation does not prevent innovation but instead provides a mechanism through which new developments can be adopted safely.
He praised the monitoring and enforcement work carried out by Spain’s gambling regulator, although he said now was “not the right time” to introduce proposed rules establishing shared deposit limits for individual players across operators.
“I understand that the regulator faces a certain amount of political pressure to continue introducing new rules and controls, but I believe Spain already has one of the most heavily regulated and closely monitored markets,” he said.
“Sometimes, these matters need to be considered for longer to avoid taking a step in the wrong direction.”
However, Rodríguez-Maribona said regulation had not prevented RETAbet from growing in Spain.
“We are profitable and hold a podium position in the retail market,” he said. “However, it is true that very few companies can say they are genuinely omnichannel in the country.”
More restrictions, more black-market gambling?
Spain has some of Europe’s strictest rules governing gambling and betting advertising.
Advertisements can generally only be broadcast between 1am and 5am, although certain exceptions apply. Sports sponsorships are permitted under specific conditions, while restrictions also apply to influencers and social media marketing.
Spain’s Ministry of Social Rights, Consumer Affairs and the 2030 Agenda is planning to tighten the country’s gambling regulations further.
“In the past, licensed operators were able to advertise and support sport, but we have now been prohibited from doing so,” Rodríguez-Maribona said.
“This has left customers with fewer ways to distinguish between legal and illegal offerings. As a result, we have also lost the competitive advantage we previously held over unlicensed platforms.”
The RETAbet CEO said evidence of illegal gambling activity could be found easily on social media.
“You only have to look at Facebook to see illegal betting offers,” he said. “Banning advertising and sponsorship is a mistake.
“In fact, the market has continued to grow since the ban was introduced. I have not seen any scientific study demonstrating a correlation between betting sponsorships and gambling addiction.”
“Introducing a ban is easy,” Rodríguez-Maribona concluded.
“Correcting or reversing it is the difficult part.”