France's Gambling Industry Anticipates Record Turnover of Approximately €13.4 Billion in 2023
Following an announcement by the French gambling regulator, Autorité Nationale des Jeux (ANJ), the nation's gambling market reported impressive numbers for 2023.
Approximate Growth of 3.5%
Based on the official statement from the ANJ [Link in French], the French gambling industry saw a growth of approximately 3.5% as compared to the previous year in 2023. With a total revenue of 13.4 billion euros, it broke its own record.
Despite this growth, it falls short of the European average of 5.5%. However, it aligns with growth rates seen in the UK and its neighboring countries, Germany and Spain.
The ANJ noted a positive trend across all gambling sectors in 2023. This is considered a welcome development post the COVID-19 pandemic, which had a significant impact on the French gambling market earlier.
Casino Sector Shows Exceptional Growth
The ANJ's figures reveal that the casino sector showed exceptional growth in 2023. Casino activities surged by 8.1%. The sector's total revenue was 2.7 billion euros in 2023, setting a new record.
Presently, 73.8% of all casino operations generate more revenue than pre-COVID-19 times. More than 60% of casino revenue comes from slot machines.
Possibility of More Growth in 2024
The current trends suggest that the French gambling market might continue to thrive in 2024. Experts believe several upcoming events could boost the industry this year.
These events include the European Football Championship in Germany during the summer and the Olympics beginning in Paris shortly after. Experts forecast that these major events could lead to further growth in the gambling market not just in France but across Europe.
However, a press release from the ANJ in January 2024 could potentially dampen the industry's spirits. The release called on gambling and sports betting providers to exercise caution with their advertising measures to safeguard players, particularly minors, even during major events.
Dominance of Two Major Providers
According to the ANJ, the former state-owned gambling providers, Française des Jeux (FDJ) and PMU, accounted for 62.7% of the total turnover in 2023. They generated 6.6 billion euros and 1.7 billion euros in revenue respectively.
For instance, FDJ managed a growth of 10.4% in turnover from both stationary and online sports betting. The provider's overall growth in 2023 was 1.8% compared to the previous year.
Online Horse Racing Bets Soar by 19%
The online horse racing betting market showed remarkable growth in 2023. Revenue increased by 19% to reach 353 million euros. The number of players also saw an uptick by 1.5%.
The ANJ attributes this growth to horse racing attracting new players, which is an encouraging sign as players in this sector generally stick to a few providers.
On average, players participating in horse racing hold 1.2 accounts per player, whereas sports betting players tend to maintain 1.4 accounts.
The growth in the French gambling market in 2023 also extends to its neighboring countries, notably Germany, where online casinos have been gaining popularity.
With the European Football Championship taking place in Germany in 2024, experts predict it could lead to further expansion of the gambling market not only in Germany but across Europe.
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