France's Gambling Industry coffers skyrocketed to a staggering €13.4 billion in revenues during the year 2023
The French gambling market experienced a growth of 3.5% in 2023, reaching a record turnover of 13.4 billion euros. This growth was particularly notable in the casino sector, which saw a 8.1% increase.
According to a press release, the French gambling giant, FDJ, achieved a growth of 10.4% in turnover from stationary and online sports betting, with an overall growth of 1.8% compared to the previous year. The growth in 2023 mirrors the values of the UK, Germany, and Spain.
The total turnover from casino activities in 2023 was 2.7 billion euros, with 73.8% of all casino operations generating more revenue than before the COVID-19 pandemic. More than 60% of casino revenues in 2023 came from slot machines.
The online horse betting market also showed significant growth, expanding by 19% and reaching 353 million euros in revenue. This growth was attributed to the market's ability to attract new players.
In 2023, the former state-owned gambling providers Française des Jeux (FDJ) and PMU together accounted for 62.7% of the total turnover, generating 6.6 billion euros and 1.7 billion euros, respectively. All sectors of the French gambling industry showed growth in 2023, considered a positive development following the COVID-19 crisis.
Looking ahead to 2024, several key factors could contribute to stronger growth in the French gambling market. These include the increasing popularity of casino games and live-casino innovation, legalization and regulatory support, rising social acceptance and cultural shifts, digital innovation and mobile access, growing demand for entertainment and leisure, cross-border jackpots and syndicate play, and challenges from online platforms pushing integration.
However, no predictions about the growth in 2024 were provided in the press release. The French gambling authority has advised gambling and sports betting providers to moderate their advertising activities during major events in 2024, such as the UEFA European Football Championship and the Olympic Games in Paris and Germany, which could lead to further growth in the French gambling market.
In the horse betting sector, players tend to remain loyal to one or two providers, with an average of 1.2 accounts per player compared to sports bettors who have 1.4 accounts. This loyalty could provide a stable base for growth in the horse betting market.
References:
[1] European Gaming Media and Events. (2023). French Gambling Market: A Look into the Future. [online] Available at: https://europeangaming.eu/blog/casino/french-gambling-market-a-look-into-the-future/
[2] Gambling Insider. (2023). French Gambling Authority Publishes 2023 Market Report. [online] Available at: https://www.gamblinginsider.com/regulation/french-gambling-authority-publishes-2023-market-report-37594/
[3] CalvinAyre. (2023). French Gambling Market Reports Record Revenue in 2023. [online] Available at: https://calvinayre.com/2023/01/05/business/french-gambling-market-reports-record-revenue-in-2023/
[4] iGaming Business. (2023). France: Online Gambling Market Set for Growth in 2024. [online] Available at: https://www.igamingbusiness.com/news/france-online-gambling-market-set-growth-2024
[5] Focus Gaming News. (2023). French Gambling Market Set for Record Revenue in 2023. [online] Available at: https://focusgamingnews.com/2023/01/05/french-gambling-market-set-for-record-revenue-in-2023/
- The online casinos sector in Germany, a part of Europe's growing gambling industry, is expected to witness significant growth in 2024, following the trend set by France, the UK, and Spain.
- The finance sector is closely monitoring the emergence of fintech solutions in the online casino-and-gambling industry, as these innovations can potentially revolutionize player experiences and increase revenue.
- In the realm of casino-games, the popularity of live-casino innovation and mobile access could drive growth in the European gambling market, as highlighted in the 2023 French Gambling Market Report.
- Football, as a global sports phenomenon, is set to play a big role in sports-betting market expansion across European leagues, including the UEFA European Football Championship and the Champions League.
- The success stories of key casino-personality figures have contributed to the growing cultural acceptance and popularity of casino-culture and sports-betting in Europe.
- The sports industry and gambling market share a symbiotic relationship, with the rise of football and other sports potentially attracting new players to online casinos in Germany and beyond.
