French Q3 sportsbook revenues soar 94%
Sports betting revenues rise to 60m in the quarter as online poker continue to slide
Gross gaming revenues (GGR) from the regulated French online sports betting market almost doubled in Q3 2014 as the country’s online poker market continue to struggle.
According to figures released by the country’s regulator l’Autorité de regulation des jeux en ligne (ARJEL) today (Friday), sports betting GGR increased 94% year-on-year to 60m, up from 31m compared to the same period last year.
ARJEL said the knockout stages of the FIFA World Cup in particular provided a significant boost to French sportsbook revenues, with 47m staked on this stage alone, while operators recorded almost 245m in total bets over the quarter.
However, revenues from the French online poker market fell for a third-consecutive quarter this year, although at a much slower rate, with revenues from cash games and tournaments combined down 2% year-on-year to 57m.
Cash game stakes fell 5% year-on-year to 1.04bn during the quarter, down from 1.09bn last year, while tournament stakes recorded a slight rise of 1% from 352m in 2013 to 354 this year.
Stakes on horse racing fell 7% year-on-year to 238m although gross revenues remained stable at 60m.
Last month eGaming Review reported that ARJEL is preparing to streamline its relicensing procedures next year to make the process less burdensome for the first wave of operators whose licences are due to expire next summer.
The French online gambling market opened to competition from foreign operators in May 2010 and the original five-year licences are set to expire for some operators as early as next summer.