France’s Online Gambling Market Is Stronger Than Ever
The online gambling industry in France has only been regulated since 2010. It’s seen steady growth since that time, particularly in the past two years. France’s online gambling market is now stronger than ever. Could this country soon become the online gaming hub of Europe?
France continues to implement some of the highest online gaming tax rates of any European country. They still prevent many forms of online gaming, yet the massive increase in revenue may push them to change their ways.
Online Gambling Explosion in France
Historically speaking, almost all forms of online gambling have been banned in France. After pressure from citizens and gaming operators, the government here decided to open up the market. In 2010, France passed a Gambling Act that opened the possibility for a number of different internet gambling activities inside the country.
Under the French Gambling Act, sports betting, online poker, and horse race betting became legal. Many of the most popular online gambling sites in Europe were finally able to receive a license to operate inside France. Before long, millions of people here were placing bets online.
Reports are now coming out that France’s online gambling market set growth records last year. Online gambling revenue increased by 56% from 2017 to 2018.
It’s a great sign for the gaming market here. More people in France are making wagers online than ever before. One gambling market is earning the government millions in revenue.
Sports Betting Dominates France’s Online Gambling Market
As we mentioned earlier, only a few forms of online gambling are actually legal inside France. In 2018, sports betting was more popular than ever here.
This form of gambling is directly attributed to the massive revenue increase for France’s online gambling market. According to multiple reports, more than €1 billion was placed on sports bets during the final three months of 2018. Football betting rose by 54% during the year’s fourth quarter to €663 million.
Basketball came second at €162.7 million. Tennis was third in overall sports betting during last year’s fourth quarter at €111.4 million. Surprisingly, volleyball was the biggest earner in terms of relative percentages with €18.8 million, an increase of more than 50% from the same time the year before.
Most analysts credit the 2018 FIFA World Cup for the massive increase in sports betting. The fact that sports betting revenue continued to increase during 2018’s final quarter shows that World Cup bettors stuck around and continued to place wagers.
Online poker grew by 11% overall last year, while horse race betting fell by 1%.
France Wants to Ensure the Growth Continues
The French government must be celebrating an increase in gambling revenue. The market here is clearly growing, and officials want to ensure that growth is sustained. The ARJEL (France’s online gaming regulator) has warned that the market is still “fragile.”
France continues to implement some of the highest online gambling taxes of any European country. Gaming companies operating here are paying nearly 6% of turnover. Lawmakers here are considering lowering these taxes in order to become more competitive with other countries in Europe.
The massive spike in revenue here may also push the French government to reconsider their laws on casino gaming. Online casino gambling is extremely popular throughout most of Europe. A regulated internet casino market would likely earn the government millions in additional revenue every year.
France’s online gambling market continues to grow. Do you think 2019 will be just as successful for gaming companies here? Will France allow online casino gambling soon? Let us know what you think in the comment section below!
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