Euro Archives - Keno Wizard https://kenowizard.com/tag/euro/ The Ultimate Keno Destination for Odds, Tips & Tricks Thu, 18 Jul 2024 11:01:36 +0000 en-US hourly 1 https://wordpress.org/?v=6.6 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Euro Archives - Keno Wizard https://kenowizard.com/tag/euro/ 32 32 230792155 French Legal Sports Betting Market Struggles Amid Illegal Gambling Surge During Euro 2024 https://kenowizard.com/2024/07/18/french-legal-sports-betting-market-struggles-amid-illegal-gambling-surge-during-euro-2024/ https://kenowizard.com/2024/07/18/french-legal-sports-betting-market-struggles-amid-illegal-gambling-surge-during-euro-2024/#respond Thu, 18 Jul 2024 11:01:36 +0000 https://kenowizard.com/2024/07/18/french-legal-sports-betting-market-struggles-amid-illegal-gambling-surge-during-euro-2024/ Following the conclusion of Euro 2024, the French Online Gaming Association (AFJEL) released initial market figures that revealed a disappointing performance for licensed online sports betting operators. Despite expectations, the legal market stagnated, showing no growth compared to Euro 2021 and a substantial 25% decline from the 2022 World Cup figures. Notably, the stakes fell [...]

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Illegal-market-outstrips-licensed-French-gambling-AFJEL-warnsFollowing the conclusion of Euro 2024, the French Online Gaming Association (AFJEL) released initial market figures that revealed a disappointing performance for licensed online sports betting operators. Despite expectations, the legal market stagnated, showing no growth compared to Euro 2021 and a substantial 25% decline from the 2022 World Cup figures. Notably, the stakes fell far short of the National Gaming Authority’s (ANJ) predicted record of €1 billion, with actual figures coming in 50% lower.

Stagnation and Decline in Legal Sports Betting

The report highlights several troubling trends for the licensed sports betting market:

  • Stakes remained stagnant compared to Euro 2021.
  • A significant 25% drop in stakes from the 2022 World Cup.
  • Actual stakes were 50% below ANJ’s forecast, amounting to approximately €500 million.

These figures are particularly concerning given that the French national team reached the semi-finals, a performance that would typically boost betting activity. However, the lack of growth and the continuous decline in the number of unique players (-5.3% in 2023) suggest a shift towards the illegal market.

Rise of the Illegal Gambling Market

In stark contrast, the illegal gambling market has flourished. For the first time since the regulated market’s establishment in 2010, the number of illegal players surpassed those in the legal market, reaching 4 million in 2023. This growth has been driven by illegal online casino sites offering sports betting on Euro 2024 without any regulatory oversight or player protection measures. These platforms have attracted players with enticing odds and the absence of legal restrictions.

Nicolas Béraud, President of AFJEL, expressed concern over these trends. He stated, “The initial assessment of Euro 2024 reveals figures that contradict the supposed frenzy of online sports betting on the legal market. The illegal market continues its strong expansion, cannibalizing the online sports betting sector by diverting players from the legal offer.”

Challenges in Curbing Illegal Gambling

Despite efforts by the ANJ to block illegal sites, these measures have proven ineffective. Béraud emphasized that unlicensed operators act with “complete impunity,” further exacerbating the issue. The regulator’s actions have not been sufficient to curb the growth of the illegal market, leaving over 4 million players exposed to significant risks.

This situation is compounded by the absence of a regulated online casino market in France and the high taxes imposed on legal operators. These factors drive players towards illegal platforms, which offer more attractive options without the burden of taxes or regulatory constraints.

A Paradoxical Market: Growth Amidst Decline

Interestingly, despite the concerns raised by AFJEL, ANJ figures indicate a thriving French gambling market. The total gross gambling revenue (GGR) for 2023 reached a record €13.4 billion, a 3.5% increase from 2022. All market segments saw growth, with online sports betting revenue growing by 6.4% year-on-year to €1.5 billion.

However, this growth masks underlying issues. The pool of unique players decreased by 7.3%, and the number of active accounts fell by 3.9%. The market continues to be dominated by former gambling monopolies like La Française des Jeux (FDJ) and Pari-Mutuel Urbain (PMU), which accounted for 62.7% of total revenue.

Addressing the Illegal Gambling Challenge

To address the growing illegal gambling problem, several measures could be implemented:

  1. Stricter Penalties: Imposing harsher penalties on illegal operators and participants could deter illegal activities.
  2. Advanced Technologies: Investing in technology to improve the detection and blocking of illegal sites.
  3. Legalization of Online Casinos: Expanding the legal market to include online casinos could attract players back to the regulated sector.
  4. Tax Policy Review: Reducing taxes on legal operators could make the legal market more competitive.
  5. Public Awareness Campaigns: Educating the public on the risks of illegal gambling and benefits of legal channels.
  6. International Collaboration: Sharing best practices with international regulatory bodies to enhance regulatory measures.

Implementing these strategies could help curb the growth of the illegal market and ensure the sustainability of the legal gambling sector in France.

Source:

Online sports betting during Euro 2024: A mixed assessment for the legal market while the illegal market explodes, afjel.fr, July 15, 2024.

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