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French Online Gambling Continues to Grow

French Online Gambling Continues to Grow

Figures released by ARJEL, the regulatory authority for online gambling in France, have shown that the market is still growing.

French Online Gambling Continues to Grow

Last year saw a 1% growth in the French online gambling market

Last year the entire market generated stakes of €9.4 billion, a 1% increase on 2011.

The growth occurred even though customer deposits fell by 3% during the year and there were 13 fewer gambling firms operating in the market.

The main contributor to growth was sports betting, thanks to major events such as the Euro 2012 (which saw France suffer a quarter-finals defeat to Spain) and the London Olympics, online sports betting grew by 19% to €705 million.

It looks as though the market could continue to grow especially since the French government and gambling authority still have a number of licenses that they can issue.

Furthermore, it is thought that some of the steps taken by France against online gambling providers without a license are in violation of European law.

The regulated online gambling industry in France is relatively young and will hopefully continue to expand over the coming years. However, it is already doing a better job than some of France’s neighbouring European countries.

 

 

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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