France's regulated gaming market delivered steady growth in 2025, with gross gaming revenue (GGR) reaching €14.1 billion, marking a 3% increase from the previous year. The expansion was particularly pronounced in online sports betting, which surged by more than 10%, alongside sustained growth in lottery operations and notable recovery in the casino sector.
The performance places France firmly within the European gaming mainstream, achieving growth rates comparable to those of the United Kingdom at 4.3% and Italy at 1.9%. The French online segment demonstrated robust momentum with 8.6% growth, matching broader European online gaming trends and reinforcing the digital transformation of the industry.
Online Gaming Momentum Accelerates
The online gaming segment generated €2.617 billion in GGR, representing an 8.5% increase and now accounting for 18.5% of total market revenue, compared to just 12.8% in 2019. This digital migration occurred despite a less favorable sports calendar than 2024, indicating the sector's growing independence from major sporting events.
Online sports betting dominated the digital landscape with €1.766 billion in GGR, reflecting a 10.4% increase and representing two-thirds of all online gaming revenue. Total stakes reached €11.517 billion, up 12% year-on-year. Football remained the primary driver with €6.32 billion in stakes, while the revamped Champions League format contributed a 41% increase in related betting activity, partially offsetting the absence of major international tournaments.
Tennis emerged as the second growth engine with stakes reaching €2.65 billion. The average annual stake per active customer account (CJA) stood at €2,186, up 3.8%, while GGR per CJA reached €335, increasing 2.3%.
Online poker returned to sustained growth with €525 million in GGR, up 6.5%, while online horse racing betting advanced to €326 million, representing a 2.5% increase.
€14.1 billion
Total French Gaming GGR 2025
€2.617 billion
Online Gaming GGR
18.5%
Online Share of Total Market
€1.766 billion
Online Sports Betting GGR
€11.517 billion
Total Sports Betting Stakes
€6.32 billion
Football Betting Stakes
€2.65 billion
Tennis Betting Stakes
Player Base Expansion and Diversification
The online gaming ecosystem expanded significantly, with 4.2 million unique players (up 7.7%) and 6.1 million active customer accounts (up 7.1%). Gaming behaviors showed increasing diversification, with players active across all three online segments growing by 25%, while single-segment players saw their relative weight decline.
In poker and horse racing, rapid customer base expansion coincided with notable decreases in average spending per player (down 8.6% and 5.2% respectively), potentially reflecting the arrival of more casual players through multi-activity engagement.
| Segment | Metric | 2024 | 2025 | Change |
|---|---|---|---|---|
| Sports Betting | Active Accounts (000s) | 4,882 | 5,267 | +7.9% |
| Stakes (€M) | 10,282 | 11,517 | +12.0% | |
| GGR (€M) | 1,599 | 1,766 | +10.4% | |
| Horse Racing | Active Accounts (000s) | 664 | 718 | +8.2% |
| Stakes (€M) | 1,566 | 1,680 | +7.3% | |
| GGR (€M) | 318 | 326 | +2.4% | |
| Poker | Active Accounts (000s) | 2,115 | 2,465 | +16.5% |
| GGR (€M) | 493 | 525 | +6.5% | |
| Total Online | Active Accounts (000s) | 5,698 | 6,100 | +7.1% |
| GGR (€M) | 2,411 | 2,617 | +8.6% |
Multi-Segment Player Growth Drivers
The 25% surge in players active across all three online segments reflects strategic cross-selling initiatives by operators, enhanced user interfaces allowing seamless switching between poker, sports betting, and horse racing, and promotional campaigns targeting multi-product engagement. This diversification reduces operators' dependency on single-product revenue streams while increasing customer lifetime value through expanded touchpoints.
FDJ United Consolidates Market Position
FDJ's exclusive rights activities (lottery and retail sports betting) maintained their substantial market presence, representing 49.2% of total GGR with €6.95 billion, up 2.8%. Lottery operations drove this growth with a 3.4% increase.
At group level, FDJ United – incorporating Kindred for the first full year – reported €8.706 billion in GGR, representing 0.8% growth on a comparable basis. The positive momentum in France contrasted with declining European online betting operations (down 8% in GGR), particularly affected by challenges in British and Dutch markets.
Warning
FDJ United's 8% decline in European online operations signals broader regulatory tightening across key markets. The UK's enhanced affordability checks and Netherlands' strict advertising restrictions have created challenging operating conditions. Operators expanding internationally should prepare for similar regulatory constraints and factor compliance costs into European expansion strategies.
PMU Decline Accelerates
PMU's performance under exclusive rights continued deteriorating, with stakes falling 3.3% to €6.4 billion in 2025 (following a 2.6% decline in 2024) and GGR dropping 2.8% to €1.651 billion (after a 2.2% fall in 2024). The player base, which had briefly recovered to pre-pandemic levels at 3.5 million in 2024, contracted 5.7% to 3.3 million in 2025.
Traditional Operator Adaptation Strategies
PMU's accelerating decline highlights the critical need for legacy operators to embrace digital transformation beyond simple online migration. Successful adaptation requires modernized product offerings, enhanced mobile experiences, and strategic partnerships with content providers. Horse racing operators in other jurisdictions can learn from PMU's challenges by prioritizing younger demographic acquisition and implementing data-driven customer retention programs.
Casino Recovery and Club Challenges
Casino operations returned to growth trajectory with €2.816 billion in GGR, up 3.4%, and 31.6 million entries, increasing 2%. Conversely, Parisian gaming clubs suffered from early-year closures, posting a significant decline with GGR falling 21% to €97 million.
Physical Gaming Venue Dynamics
The casino sector's recovery to 31.6 million entries demonstrates the resilience of destination gaming experiences that online platforms cannot replicate. Meanwhile, Parisian gaming clubs' 21% GGR decline following closures illustrates the vulnerability of urban gaming venues to operational disruptions. The contrast highlights the importance of geographic diversification and operational continuity planning for physical gaming operators.
Market Outlook for 2026
"2026 presents itself as a decisive year for the entire gambling market. Whether it's consolidating acquisitions, urgently halting an entrenched decline, or facing intensified competition on the eve of the Football World Cup, all indicators are flashing red for the regulator. In this tense context, compounded by the arrival of new forms of betting, it's necessary to continue the expected shift towards a less intensive gaming model and propose adaptations to the current regulatory framework to lower the temperature of gambling."
— Isabelle Falque-Pierrotin, President of ANJ
The 2026 outlook centers on several critical developments across market segments. Online gaming's expansion to nearly one-fifth of total GGR and growing player multi-activity represent structural trends expected to continue. New market entrants will maintain competitive pressure, while the 2026 FIFA World Cup in its expanded format will test whether major international competitions retain their traditional acceleration effect.
Fiscal changes implemented from 1 July 2025 showed only six months of impact, making their full-year effect a key 2026 monitoring factor. FDJ United faces challenges across all activities: maintaining lottery momentum, consolidating Kindred integration including French online brand unification, and revitalising European operations.
PMU's declining trajectory across stakes, GGR, and player base – alongside reduced industry contributions – will test whether the forthcoming "PMU 2030 Pact" and governance renewal establish foundations for recovery.
The permanent establishment of Parisian gaming clubs after eight years of experimentation secures operations but raises questions about potential game offering expansion. The JONUM sector, with its experimental framework launched in early 2026, represents an adjacent market requiring observation to maintain distinction from traditional gambling.
2025 Online Gaming Performance Summary
Sports Betting: €1.766bn GGR (+10.4%), 5.27M CJA (+7.9%)
Horse Racing: €326M GGR (+2.4%), 718k CJA (+8.2%)
Poker: €525M GGR (+6.5%), 2.47M CJA (+16.5%)
Total Online: €2.617bn GGR (+8.6%), 6.1M CJA (+7.1%)
France's gaming market stands at a critical juncture where traditional monopoly structures face pressure from digital innovation, competitive markets, and evolving consumer preferences toward multi-platform engagement.
Regulatory Temperature Check
The French market's steady growth trajectory masks underlying tensions that will define 2026 dynamics. The regulatory authority's emphasis on reducing gaming intensity while managing competitive pressures reflects broader European challenges in balancing market development with consumer protection imperatives.
France's performance relative to European peers demonstrates the market's resilience, yet the divergent trajectories between expanding online segments and declining traditional operations highlight structural shifts requiring adaptive regulatory responses. The upcoming World Cup will provide a stress test for both market capacity and regulatory frameworks.
The integration challenges facing major operators, combined with new market entrants and experimental gaming formats, suggest 2026 will determine whether France maintains its position among Europe's stable gaming jurisdictions or requires more fundamental market restructuring.
According to ANJ.
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