A tradition of Spanish grandees being educated at English schools would be an interesting result of this POD. "The battle fields of Morocco were won on the playing fields of Eton . . ."
Spanish rules rugby. Or maybe some rugby variant just becomes the main international sport, displacing soccer. After all, if both the peninsular and the Latin American upper classes are adopting something like rugby, that is huge demographic momentum. Rugby is like soccer in that is not equipment-heavy.
If you have an Anglo-Hispano upper class cultural sphere it could also mean that some kind of horseback sport could get a boost. The Hispanic upper classes and even middle classes were way into horsemanship.
Speaking of sport, probably not gonna see stands full of cockneys cheering on Highlander bullfighters in London, but we can always dream.
Such a tradition of Spanish Grandees being educated in English schools probably also means faster practical Catholic emancipation in England over the long run.
There would also be a strong pressure for some kind of nudge nudge wink wink rapprochement between high Anglicans and Roman Catholics. Maybe something like how the current Catholic Church treats the SSPX sorta. Recognizing the validity of their rites while decrying the errors in their theology and the irregularity of their organization (this could go both ways). In other words, Catholics would hold that it was sinful for a catholic bishop to declare his allegiance to King Henry VIII instead of to the Pope, but that he still remained a bishop and could still validly ordain people and so on.
If the rise of a Prussian-led Germany still happens, you could even get a broader Anglo-French-Hispanic convivencia among the upper classes.
North America would be interesting. Both Wellingtonian Mexico and Britain have claims on large swaths of land, whereas the US is thinking that destiny doesn't manifest itself, sometimes it needs a little nudge.
If the Anglo-Hispano semi cultural sphere things happens, along side the greater British mercantile presence in a broadly united and peaceful Latin American dominion, some OTL British immigration to the dominions probably gets diverted to Latin America. Italian immigration to the US later is also probably partly diverted. Conversely, in some British areas campesino imports may replace the OTL Indian or Chinese labor imports.
