French Online Poker Up 11% to €58m in Q3November 14, 2017 12:34 pm
In the third quarter of 2017, France’s online poker market saw its revenue increase by 11% to €58 million, representing its strongest year-on-year growth for almost six years. In the meantime, the country similarly noted impressive growth in other areas of its gambling industry, including its important sports and horseracing wagering sectors.
For the three-month period ending September 30th, poker cash game revenue increased by 5% to €22.1 million, while for poker tournaments revenue rose by 14% to €35.7 million. Furthermore, poker activity also improved by 8% to 228k during Q3, despite the amount of money spent by operators on bonuses contracting by 9% to €11.9 million over the period.
The latest quarterly poker results mark the first time both cash and tournament poker revenues have risen simultaneously since 2011, and may indicate a more bullish attitude towards online poker in anticipation of some of Europe’s major poker markets gearing up towards sharing liquidity next year.
While France, Spain and Portugal are hoping to pool their players early next year, doubt has now been shed on whether Italy will follow suit. Initially part of the agreement, a number of the country’s lawmakers have now started voicing their opposition to the move, led by Democratic Party Senator, Franco Mirabelli, who sees shared liquidity as being used by criminals for money laundering purposes.
Sports betting revenue soared by 23% to €106 million during the quarter, with football providing 60% of all the action. Other popular sports to bet on include tennis (25%), and basketball (4%).
In Q3, horseracing revenue jumped by 10% to €60 million, with French regulator ARJEL crediting the dramatic increase to new simplified betting products that better appeal to bettors being rolled out by racing operators. In addition, improved loyalty programs also appear to be doing a good job in helping to retain the operators’ existing customers, and commenting on the overall positive results, Xavier Hürstel, CEO of French sports betting firm PMU, explained:
“The financial results for the first nine months of the year confirm that PMU has found its way back to growth. The strategic choices made over the past two years are paying off even though efforts must continue.”