Winamax exceeds expectations with sportsbook launch

French poker operator Winamax has said it has exceeded expectations with its new Paris Sportifs sports betting product, released last month.

Winamax built the product in-house and launched it prior to this summer’s World Cup having set an internal target of capturing 5% of the French sports betting market by the end of its first year.

However the operator said it had met this target within two weeks and has subsequently plotted a marketing drive for the product to tie alongside a new poker campaign which will launch later this year.

Winamax also said it was to further develop its mobile sports betting product after recording 50% of sports stakes through mobile or tablet devices.

The operator received regulatory approval from l’Autorité de regulation des jeux en ligne (ARJEL) to launch its first sports betting product in May, having previously sought to hire a number of sports traders at its offices in central Paris.

The French sports betting market has continued to grow over the course of the past year and recorded a 22% year-on-year increase in turnover in Q1 2014, which ARJEL attributed to renewed attractiveness of France’s domestic football leagues.

Paris’ sole professional football club Paris Saint Germain was acquired by Qatari investment vehicle Qatar Sports Investments in 2011, funding a number of high-profile transfers and the club has subsequently won two success league titles and challenged for the Champions League.

France’s current online sports betting market is dominated by the former monopoly Pari-Mutuel Urbain (PMU) and domestic operator Betclic.