Betfair has confirmed that it will pay a maximum of €10m (US$12.6m) in settlement of tax liabilities in Spain, with Spanish betting exchange customers to be transferred to the company’s new fixed odds sportsbook once initial licences are issued.

Betfair said that it expects to be among the first wave of operators to be awarded a licence by the Spanish government at the beginning of June covering the company’s sportsbook and certain casino products.

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