Euro 2024 betting failed to meet expectations in France’s regulated sector while unlicensed operators benefitted, according to AFJEL.
Euro 2024 betting volume failed to meet expectations in France’s regulated sector while unlicensed operators benefitted from the tournament, according to French online gambling association AFJEL.
According to results from AFJEL members, the amount of handle staked on Euro 2024 was stagnant compared to Euro 2021, suggesting betting volume in France’s regulated sector has remained stagnant for the past three years.
Members also pointed to a drop of around 25% in betting volume compared to the 2022 World Cup, and suggested that stakes fell short of expectations set out by France’s gambling regulator, the ANJ.
The regulator previously predicted record stakes of up to €1bn could be bet on the tournament, but figures from AFJEL members suggested the market had fallen short of these expectations by 50%.
Regulated market stagnant
The figures were presented in a broader context of stagnation in France’s regulated gambling sector.
According to AFJEL, the sector had already failed to see growth in 2022, and recorded continuous declines in the number of active players for the second consecutive year in 2023.
The number of unique players using ANJ-licensed operators was down by 5.3% last year.
“This development, contrary to European trends and the digitalisation of the sector, confirms the massive diversion of players from the legal offer to the illegal market, the impact and danger of which cannot be precisely assessed at this stage,” the association added.
In addition, AFJEL suggested that since the creation of France’s licensed gambling sector in 2010, the unlicensed market overtook the licensed market for the first time in 2023.
The association said there are now 4 million players using the unregulated sector while around 3.6 million play on the licensed market.
AFJEL president commentary
“The first assessment of Euro 2024 reveals figures that are the opposite of the supposed frenzy of online sports betting announced on the legal market,” said AFJEL president Nicolas Béraud (pictured).
“The first observation made by the licensed operators is that the competition went very well. There are several reasons for this: the first is that the operators played the game, in accordance with the ANJ guidelines and the rules on player protection, the systems of which continue to be improved .
“The second observation is that if Euro 2024 shows surprisingly low results for licensed operators, the illegal market is now continuing its very strong expansion by cannibalising the online sports betting sector by diverting players from the legal offer.
“Despite the actions taken by the regulator, the blocking of illegal sites is still not working. More than 4 million players are now exposed to major risks,” Béraud concluded.
Online casino changes incoming
One possible driver of customers using the unlicensed market is the availability of online casino products, which remain unavailable on France’s licensed market.
In May 2023, a legislative bill was introduced in France’s National Assembly aiming to legalise and regulate the activity.
The bill suggested France could launch a regulated online casino market by January 2025, though the launch would be followed by a five-year ‘moratorium’ period, during which only French companies would be permitted to offer online casino.
A wider market opening would then follow in January 2030.