Regulated Bookies in France See Less Than 50% of Forecasted Bets on EURO 2024

The betting volume for EURO 2024 in France’s regulated sector fell short of expectations set by the National Gambling Authority (ANJ), according to reports from NEXT.io, citing data from the French online gambling association AFJEL.

While the number of bets placed on EURO 2024 by licensed bookmakers in France was comparable to the previous European Championship in 2021, it saw a significant decrease compared to the 2022 World Cup, falling by nearly 25%.

Before EURO 2024 began, the ANJ had estimated that French bettors might collectively wager over €1 billion on the championship. However, according to AFJEL, the actual betting turnover for the event did not even reach 50% of the regulator’s forecast.

AFJEL attributes the relatively low interest in the European Championship among French bettors to a general stagnation in the country’s regulated gambling sector. In 2022 and 2023, the industry experienced a decline in active players, which AFJEL links to the rising popularity of unlicensed operators.

According to their data, 4 million players currently prefer betting in the unregulated sector, compared to only 3.6 million choosing licensed companies.

“Despite the actions taken by the regulator, the blocking of illegal sites is still not working,” stated AFJEL president Nicolas Béraud. “More than 4 million players are now exposed to major risks.”

Experts suggest that the preference for offshore operators may be linked to the absence of online casino offerings in France’s regulated gambling market. To address this issue, a bill is being worked on in parliament that could legalize online casinos as early as next year.