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The betting market in France is flourishing; in the first half of 2024, bets reached €5.2 billion, up 24% from the same period the year before. Additionally, the gross gaming revenue (GGR) increased by 16% to €871 million.
France’s internet betting market is still thriving. In H1, online GGR increased by 10% year over year and surpassed €1.3 billion. The early going of Euro 2024 was the main driver of the 13% growth in active player accounts (APAs). There were more than 2 million APAs in June compared to 1.25 million in the same month the previous year.
Despite these positive trends, bets on the Euros fell short of expectations, reaching €650 million instead of the anticipated €1 billion. In comparison, the 2022 tournament generated €900 million in stakes. The underperformance of the French national team and the French General Election in June were key factors in this shortfall.
In response to the increased betting activity, the ANJ (France’s gambling regulator) launched a new problem gambling prevention campaign in June. This campaign aimed to raise awareness about the risks of excessive betting during the Euros. The ANJ also called for “moderation” in gambling marketing around the tournament, and operators complied with this request.
With Paris hosting the Olympic Games, the ANJ expects up to €240 million in wagers, doubling the amount bet on the 2021 Tokyo Olympics. A Toluna-Harris Interactive survey found that 59% of French people plan to follow the event, with about a quarter intending to place bets. Notably, 74% of those planning to bet cited Paris hosting the Games as a major incentive. Players can wager on over 80% of the Olympic events.
France has become the first host country to develop a national platform to combat sports manipulation. During Euro 2024, concerns about illegal betting surfaced. The Association Française des Jeux En Ligne (AFJEL) warned that the illegal market is now surpassing the legal one. In 2023, four million players bet through illegal sites in France, compared to 3.6 million via regulated sites.
AFJEL also noted that only half of the ANJ’s €1 billion prediction was wagered on Euro 2024, with stakes 25% lower than those for the 2022 World Cup in Qatar.