French gaming regulator attributes growth to World Cup
The regulator revealed that online gambling revenue increased 21% due to the football tournament.
France.- French gaming regulator ARJEL released on Tuesday its latest financial results, which indicate that there was a 21% year-on-year increase in online gambling revenue during the third quarter of the year. The regulator believes that the FIFA World Cup tournament helped achieve these numbers.
According to the figures, total gross gaming revenue totalled €271 million, driven by the performance of the sports betting vertical, which reported a 40% increase in revenue to €149 million during the three-month period. Players bet a total of €995 million online in the third quarter, ended September 30, and the number represents almost double the same period last year, totalling €549 million.
The FIFA World Cup, which saw France as its winner, had already improved financial figures, as it led to record online sports bets of €1 billion in the previous quarter. The final game of the tournament alone generated €38.5 million in online sports betting turnover, the highest registered from a single event since the European country opened and regulated its market 8 years ago.
Moreover, the online poker segment also saw an increase in revenue, helped by a shared liquidity agreement with Spain and Portugal. The market experienced a 3% increase to €59 million.
