Codere Online boss says prediction markets are a realistic option and criticises Spanish enforcement
In an interview published on 2 November 2026, Codere Online chief executive Aviv Sher said prediction markets are a realistic option for the company, though it has not entered the sector. He also argued that Spain adds restrictions on licensed operators while doing too little against unlicensed ones.
South African players use offshore casinos because no local licence exists for online casino games, so the argument about licensed versus unlicensed sites is a close parallel. The Spanish debate shows a tension that regulators everywhere face: tight rules on licensed operators can push some players towards sites with no oversight. The comments come from an operator, so they are one side of that argument. They still help explain why a licence and visible player protection tools matter more than a flashy offer when you pick where to play.
What happened
Aviv Sher, chief executive of Codere Online, told iGaming Business that the company is "keeping an eye" on prediction markets. He had first suggested in May that they could be a good extension of its offering. Asked for an update, he called them a realistic option, but said the company has not made its move. He added that it might come next year, and that Mexico and the Spanish speaking population in the southern United States would suit it.
The detail
Codere Online raised its 2026 guidance after a strong second quarter, in which it reported record net gaming revenue of €69.4 million. It now expects net gaming revenue of €255 million to €265 million for the year and adjusted EBITDA of €20 million to €25 million. Mexico and Spain together produced over 90% of second quarter revenue.
Sher said the company is drawing up a new five year plan, and that it chose to invest in current markets rather than maximise profit. He pointed to Mexico, which raised its tax rate to 50% of gross gaming revenue from the start of 2026, and to Spain, where joint deposit limits are due in 2027. On Spain he said the regulator is pushing operators more and more, and he complained of a lack of enforcement against unlicensed brands, which he said pushes players to the unregulated sector and cuts tax revenue. These are his views, not findings from a regulator.
What it means for South African players
None of this changes rules in South Africa, and Codere Online does not operate here according to the interview. Prediction markets are a separate product from casino games, and the story gives no sign that they are coming to South African players.
The enforcement point is the useful one. When rules for licensed sites tighten and unlicensed sites face few consequences, players can drift to operators with no complaint route or limit tools. Before you play anywhere, check who licenses the site and what protection it offers. Our casino reviews separate sites that accept South African players from sites that are licensed in South Africa, which at present is none. Gambling carries real risk, so only play with money you can afford to lose.
What to watch next
- Whether Codere Online launches a prediction markets product in 2027.
- The new five year plan the company says it is preparing.
- How Spain applies its joint deposit limits and whether enforcement against unlicensed sites changes.