France: H1 2025 Market Analysis

The French gambling regulator ANJ (Autorité Nationale des Jeux) reported continued market growth in the first half of 2025. The online segment reached a new all-time high, although increasing tax pressure may slow further expansion.

General Indicators

• € 5.7 billion — Gross Gaming Revenue (GGR)
• +3.7% — growth compared to H1 2024
• 4.7 million — active players
• +9% — annual increase in the number of players
• € 1.4 billion — online gambling revenue
• +6% — annual growth of online casinos
• 69% — share of online betting in GGR
• € 6 billion — total betting volume
• +15% — year-on-year increase in bets
• € 960 million — betting sector revenue

Notably, growth was recorded across all sports despite the absence of major international tournaments.

Betting Structure by Sport

• 52% (-4 p.p. YoY) — football
• 26% (+8 p.p. YoY, +22% in betting volume) — tennis
• 9% (0 p.p. YoY) — basketball
• 2% (0 p.p. YoY) — rugby
• 11% (0 p.p. YoY) — other sports

Declining Segments

• Poker: € 246 million GGR (-4% YoY)
• Horse racing: € 174 million GGR (+1% YoY, stagnation compared to previous growth)

Most online activity comes from players aged 18−34, who prefer mobile betting and innovative formats. Poker and horse racing attract an older audience, explaining their slower growth.

New Growth Drivers

In October 2024, FDJ United (a state-backed operator) completed the acquisition of international iGaming company Kindred Group, integrating its brands and online assets.

This merger became a major growth catalyst for both the operator and the market overall: in H1 2025, FDJ United reported € 700 million in online revenue — a +458% YoY increase.

Tighter regulatory and tax conditions partially give FDJ a competitive advantage due to state support.

Key Takeaways

• The online share of GGR continues to grow, confirming the shift from offline to digital channels.
• Sports betting remains the market’s main growth driver.
• Declining segments (poker, horse racing) need new strategies to revive growth.
• Major acquisitions can significantly alter competitive dynamics.
• Rising tax pressure may slow the legal market’s expansion and create new opportunities for offshore operators.