French Sports Betting Soars, Fueled by Euro 2024 and Paris Olympics
France’s sports betting market is experiencing a significant boom, driven by major sporting events and a growing appetite for online wagering. The National Gaming Authority (ANJ) reports a surge in activity, highlighting the increasing popularity of sports betting in the country.
The overall online gaming sector in France saw a 10% increase in the first half of 2024, generating €1.302 billion in gross gaming revenue (GGR). The number of active player accounts also jumped by 16%, with over 2 million active bettors in June 2024, compared to 1.25 million the previous year.
However, a notable trend is emerging: French bettors are increasingly turning to foreign betting sites. These platforms, operating outside the ANJ’s jurisdiction, are gaining traction due to their diverse betting options and competitive odds.
The Impact of Major Events
Despite moderate enthusiasm for the French national football team during Euro 2024, betting figures remained strong. This was fueled by the combined excitement surrounding the European Championship and, more significantly, the Paris Olympics.
The Paris 2024 Olympics marked a milestone in sports betting, becoming the most popular event for bettors. Betting volume doubled compared to the Tokyo Olympics three years prior.
This surge in betting activity showcased the wide range of sports that captured significant betting interest. The most popular sports at the Paris Olympics, based on betting volume, included:
- Basketball
- Football
- Tennis
- Volleyball
- Handball
- Golf
- Beach Volleyball
- Athletics
- Table Tennis
- Swimming
Swimming, in particular, saw a surge in popularity among bettors, partly due to the outstanding performances of athletes. The men’s basketball game between the United States and France also attracted considerable attention and betting activity.
The Paris Olympics offered a vast array of betting opportunities, with 329 gold medals contested across 32 sports, encompassing approximately 2,000 events.
The Paris time zone, compared to Tokyo, provided a more favorable schedule for viewers and bettors, enhancing engagement and participation in betting activities across various sporting events. This convenient time difference allowed bettors to follow, enjoy, and participate more readily, contributing to the overall increase in betting volumes during the event.
Looking ahead, the online sports betting market in France is projected to reach an impressive €1.90 billion by the end of 2024. These figures reflect the growing popularity of sports betting in France and the significant impact of major sporting events on betting platform revenues.
Future Trends
In the near future, the integration of advanced technologies like artificial intelligence and machine learning is expected to significantly enhance the sports betting sector.
These technologies will help optimize odds setting and improve user experience. These advancements will not only streamline bookmaker operations but also provide bettors with more sophisticated tools for making informed decisions.
As this global market continues to expand, French regulatory authorities are likely to strengthen their oversight to ensure fair practices and protect consumers. This could involve stricter licensing requirements for betting sites, enhanced security measures, and more comprehensive support systems for responsible gambling.
The success of the Paris Olympics could also set a precedent for future international sporting events, potentially leading to lasting improvements in infrastructure and technological capabilities within the sports betting domain.
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