French sports betting revenues up 18% in Q2 2019

Sports betting revenues in France rose 18% year-on-year during the second quarter of 2019, according to latest data released by the French regulator.

ARJEL reported sports betting gross revenues of €214m (£196m) during Q2, up from the €181m reported during the same period in 2018.

Revenues were lifted by a 20% YoY increase in bets being placed, with total stakes of €1.2bn (£1.1bn) being collected by French sports betting firms during Q2 2019.

The number of active betting accounts increased by 15% YoY to 608,000.

Online poker revenues grew by 5% YoY during the quarter to €63m (£57.7m), the first positive growth in online poker revenues for the last three consecutive quarters.

This recovery was due in part to a 9% YoY rise in the amount of stakes placed in cash games, where stakes grew to just over €1bn (£916m) and a 6% rise in active player accounts, which grew to 261,000 during the quarter.

French horseracing revenues rose by 8% YoY to €66m (£60.5m), lifted by an 8% increase in total bets, which amounted to €269m (£246m) during the quarter. The number of active player accounts grew by a modest 4% to 142,000 during Q2 2019.

Analyst firm Regulus Partners said the French market’s continued success was paradoxical, with the market “not supposed to work” because of its turnover taxes and the absence of online casino gaming.

However, the analyst firm said operators had proved successful at targeting recreational and non-price sensitive customers.

In a recent interview with EGR Compliance, Alexandre Vuchot, partner at international lawfirm Bird & Bird, highlighted the French sports betting market as a significant area of opportunity for operators.

Vuchot cited the “strong cumulative growth” in stakes during 2018 when compared to 2017.

“That increase has been supported by consistent growth in new personal betting accounts, suggesting that the industry has been able to attract new users to grow its customer base,” Vuchot added.

Read the full interview here.