The online gaming market in France continue to record solid growth as indicated by the latest reports on the performance of licensed wagering operators in Q4 of financial year 2018. The reports were issued by the country’s gambling regulatory authority, ARJEL, earlier this week. In 2018, France recorded a betting turnover of €3.9 billion, which marks a 56% increase from 2017. This was the highest value of bets recorded in the country since it instituted legal online betting in 2010.
Focusing on the last three months of 2018, the value of wagers placed on sporting events was €1.06 billion, which is a record high on quarterly turnovers. The revenue generated by the market in the last quarter of 2018 was €215 million, an improvement of 32%. The number of active punters also rose by 39% to an average of 546,000 each week.
Volleyball was the biggest gainer in Q4
Volleyball recorded the highest gain percentage of all sports with a record €18.8 million in bet values, marking a positive growth of more than 100% from Q4 of 2017.
However, football was the most popular betting market with a turnover of €663 million. The figure marked an increase of 54%. It was followed by Basketball which came a distant second with €162.7 million in bets value. The third most popular market among punters was tennis which realized a turnover of €111.4 million, marking a 70% improvement.
Online poker and horse racing sectors lagged behind
Online poker and horse racing did not record high turnovers as the other markets. The revenue from poker dropped by 1% to €65 million, and tournaments seemed to rake in more profits than cash games. However, the number of active players per week increased by 2% to 256,000.
In horse racing, the value of bets collected by operators in Q4 rose by 2% to €275 million, while the increase in revenue was a meagre 1% to €67 million.
More can be done to improve the market
When issuing the reports, the regular commended the solid growth but noted that the country can still do more to ensure that the regulated online gambling sector continue to flourish. According to ARJEL, the government needs to follow through on its pledge to rethink the taxes on online betting. Currently, operators remit a tax of 5.7% of the value of bets but ARJEL thinks the rate should be cut down to align the French market with that of other European countries.