Online betting operator RETAbet has obtained a license from the gaming regulator SRIJ to operate in Portugal.
The authorization allows the Basque-origin company to enter the Portuguese market with its sports betting and online casino games offering, through the retabet.pt platform.
In conversation with staging-latam.next.io/, RETAbet Group’s CEO, Xabier Rodríguez-Maribona, stated that Portugal represents a “natural” step for the company, which has had a retail presence in Spain since 2008 and has operated online since 2012, thanks to a permit from the Dirección General de Ordenación del Juego. On the other side of the Atlantic, the brand has been operating in Peru for five years, where it has sponsored Sport Boys, a team in the local football first division.
“At RETAbet, we prioritize profitable growth. This isn’t one of those speeches people give when expansion results are poor, but rather a guiding principle of our company. Over the years, we have expanded in Spain and then in Peru, always with an approach that avoids sacrificing part of our shareholding or generating heavy debt to grow,” said Rodríguez-Maribona.
“We have been working on and analyzing new markets for some time, and now we have obtained the license in Portugal,” added the executive, describing the jurisdiction as “close” and, according to recent figures, full of great opportunities. During the first quarter of 2026, gross online gaming revenue grew 13.7% year-on-year, reaching 323.7 million euros.
Regarding expansion plans into other international markets, Rodríguez-Maribona said they are evaluating this, although “for now, the focus is on continuing to gain market share in Spain and Peru, and on carving out a space for ourselves in Portugal with a good product and customer service.”
Innovation, regulation, and profitability
Rodríguez-Maribona also rejected the common criticism that regulation stifles innovation: “I’ve worked in various industries, and I believe there are very few sectors with more innovation than betting. We’re going to continue seeing a lot of innovation in products, in processes, in service, and also in the competitive landscape worldwide.”
For the executive, regulation does not prevent innovation; rather, it is a mechanism that allows it to be adopted safely. In this regard, he highlighted the oversight and inspection work of the Spanish regulatory body, but said that “it is not the time” for the new regulation on combined deposit limits per player.
“I understand that the regulator faces a certain political pressure to keep introducing new rules and controls, but I believe Spain already has one of the most regulated and controlled markets,” he stated. “Sometimes, things need to be analyzed with more time to avoid taking missteps,” he emphasized.
However, Rodríguez-Maribona clarified that regulation has not been an obstacle to RETAbet’s growth in Spain. “We are profitable and hold a podium position in the retail space. However, it is true that very few companies can say we are omnichannel in the country.”
More restrictions, more black market?
Spain has one of the strictest regulations in Europe regarding betting and gambling advertising. Ads can only be aired between one and five in the morning, with some exceptions. Additionally, sports sponsorships are permitted, albeit with conditions. There are also restrictions on influencers and social media.
The Ministry of Social Rights, Consumer Affairs, and the 2030 Agenda plans to further tighten gaming and betting regulations.
“Before, licensed operators could advertise and support sport, but this has now been banned for us. This has meant that customers have lost the little they had to distinguish a legal offering from an illegal one. Also, as a result, we have lost the competitive advantage we had over unauthorized platforms,” explained RETAbet’s CEO.
“You only have to look at Facebook to see the illegal betting offerings out there. Banning advertising and sponsorships is a mistake. In fact, the market has continued to grow after the ban. I haven’t seen any scientific study showing a correlation between betting sponsorships and gambling addiction,” he opined.
“Banning is easy, the hard part is correcting or rectifying,” he concluded.