France’s online gambling market is still relatively new. The industry was operating here for years, yet it wasn’t until 2010 that lawmakers in this country opened the doors to foreign gaming companies. It seems to be paying off, as revenue from sports betting in France is posting record numbers in early 2019.
It’s a great development for both bettors and gambling operators inside France. Today, we’re going to look at exactly how much the online sports betting market here has grown in 2019. Later on, we’ll be talking about what this means for France’s internet gambling industry moving forward.
As we just mentioned, France only opened the doors for foreign sports gambling companies in 2010. For a time, this industry failed to gain much traction. Revenue has been growing from this market over the past few years and is surging in the first quarter of 2019.
New reports show that French sports bettors spent €1.28 billion in the first four months of 2019. It represents a 51% increase in spending from the same time period last year. Revenue earned from this industry amounts to €222 million.
Football (soccer) betting is the most popular sport to bet on here. More than €716 million has been spent on football wagering this year, up 54% from 2018. Ligue 1 and the English Premier League brought in the majority of revenue.
Horse race betting is also bringing in respectable numbers. Revenue from this popular sport brought in €66 million in this year’s first quarter. This represents a 3% increase from 2018. Unfortunately, not all forms of online gambling in France are bringing in the same revenue gains as sports betting.
There’s no doubt that internet sports betting in this country is more popular than ever. Many of the top online sportsbooks in Europe are now operating here, most of which offer thousands of different betting odds every single day. Interestingly, online poker revenue dipped slightly in the first few months of this year.
Internet poker revenue brought in €68 million in this year’s first quarter. It’s the first time this industry has seen a revenue decline in more than two years. Analysts claim this is due to a lesser number of poker tournaments being offered.
That doesn’t mean the online poker industry here is in trouble. The revenue earnings from this industry are only 1% less than what it was in 2018. Online poker remains one of the most popular forms of gambling in France.
Overall, things are looking great for France’s online gambling industry. Most experts predict the earnings from both sports gambling and online poker will continue to grow for the rest of the year. Will this market continue to grow over the next decade?
Many countries in Europe are setting strict regulations over their online gambling markets. Sweden, for instance, has banned virtually all forms of marketing for gambling companies. Even the UK, which has the largest internet gambling market in the world, is stepping up regulations on the industry.
France hasn’t taken quite the drastic steps to crack down on its online betting market. Government officials here seem to realize how much money they are earning from this industry. For that reason, it seems likely that the country’s internet gambling market will continue to surge.
Interestingly, the government here has still not allowed online gambling sites to offer traditional casino games. These games are too addictive and would contribute to a rise in problem gambling, according to the Gambling Regulatory Body.
Sports betting will continue to be the biggest money earner for France. The UEFA Euro 2020 tournament will bring in massive revenue figures next year. In time, sports betting in France may grow even bigger than in the United Kingdom.
Are you surprised that sports betting in France is growing so popular? Should online casino gambling be legal here? Let us know what you think in the comment section below!
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