France’s gambling market growth slows as online betting lifts H1 revenue

France’s gambling market recorded modest growth in the first half of 2026 as online betting provided the main source of expansion while traditional lottery and horse racing operations faced weaker results. Figures published by the Autorité Nationale des Jeux (ANJ), France’s national gambling regulator, show that gross gaming revenue (GGR) reached €5.66 billion between January and June 2026, excluding casinos and gaming clubs. This represented an increase of 0.5% compared with the same period in 2025, a considerable slowdown from the 4.1% growth recorded a year earlier.

The results highlight a changing balance across France’s regulated gambling industry. Digital gambling continued to attract customers and generate higher revenue, while the exclusive-rights activities of FDJ United and PMU moved in the opposite direction. At the same time, the online sector reached a new record of 5.85 million active player accounts, underlining the growing importance of digital channels to the wider market.

Online gambling provides the main growth engine

Online gambling was the only segment contributing positively to the gambling market's overall growth during the reporting period. Its gross gaming revenue increased from approximately €1.31 billion in the first half of 2025 to €1.45 billion in H1 2026, representing annual growth of 11%.

The online sector accounted for 25.6% of total gambling revenue covered by the ANJ report. This means that more than one-quarter of the measured market now comes from online activity, reinforcing the importance of digital platforms to the industry's financial performance.

Sports betting remained the largest contributor to online revenue, ahead of poker and online horse racing betting. However, the overall results were not distributed evenly across the six-month period. Activity accelerated significantly in June, when the FIFA World Cup began, making the tournament an important factor in the reporting period's sports betting performance.

Although the online segment's growth was substantial, it was not sufficient to offset the weaker results from France's two major exclusive-rights operators. The modest 0.5% increase in total market revenue therefore reflects both the strength of digital channels and the contrasting performance of established gambling activities.

Sports betting gains momentum during June

Sports betting recorded a notable increase in activity during the first half of 2026. Total stakes reached €6.6 billion, up 10.6% compared with the corresponding period in 2025. Nevertheless, the figures indicate that most of the acceleration occurred toward the end of the reporting period.

Between January and May, sports betting stakes increased by 4%. In June alone, the annual growth rate reached 47%, according to the ANJ. The timing coincided with the beginning of the FIFA World Cup, which provided a major sporting event during the month and contributed to the concentration of betting activity.

Player engagement also increased. The regulator reported that June accounted for most of the rise in active online player accounts, with the number of active accounts increasing by 69% compared with June 2025. Operators also increased promotional expenditure during the month and acquisition bonuses were almost four times higher than in June of the previous year.

These figures demonstrate how a major sporting competition can coincide with substantial changes in betting activity and customer acquisition. However, the June results alone do not establish how much of the increase will continue after the tournament. The performance of sports betting during the remaining months of 2026 will therefore be important in determining whether the first-half momentum translates into sustained annual growth.

Poker and horse racing deliver further gains

Poker produced another strong result in the online market. Revenue reached €290 million in the first half of 2026, representing an increase of 13.4% year on year. The ANJ identified Sit & Go games as a significant contributor, accounting for 70% of poker gross gaming revenue during the period.

Active poker player accounts increased by approximately 39% compared with the first half of 2025. Unlike the sharp concentration of sports betting activity in June, poker's increase in active accounts was evident from January onward. This suggests that the segment's growth was more evenly distributed across the reporting period.

Online horse racing betting also recorded its strongest increase since 2021. Stakes rose by 16% to €920 million, although the number of players increased by only 3%. The difference between the growth in stakes and player numbers indicates that the increase in total wagering was considerably stronger than the expansion in the active player base.

Taken together, the results show that online gambling growth was not dependent on sports betting alone. Poker and horse racing betting also contributed to the sector's expansion, although their performance developed differently across the six-month period.

FDJ United and PMU face weaker results

The performance of France's exclusive-rights operators contrasted with the growth recorded online. FDJ United generated €3.43 billion in gross gaming revenue from its exclusive-rights activities in France, a decline of 2% compared with the first half of 2025.

Lottery activity accounted for much of the reduction. The ANJ reported that lottery revenue declined by €64 million, with draw games falling by 7.6%. According to the operator's explanation cited by the regulator, fewer large Euromillions jackpots and reduced attendance at retail locations during periods of extreme heat affected performance.

The figures indicate that conditions affecting traditional lottery sales can have a meaningful influence on the wider gambling market. FDJ United remains a substantial participant in the French sector, meaning changes in its performance carry considerable weight in the overall results.

PMU also reported a decline in its exclusive-rights activities. The horse racing operator's gross gaming revenue fell by 5.8% to €782 million, while total stakes decreased by 3.8% to €3.1 billion.

The ANJ noted that PMU had experienced a third consecutive year of weaker first-half results. This continuing trend presents a challenge for the operator, whose activities are closely connected to the financial position of the French horse racing industry.

Outlook for the second half of 2026

The online market enters the second half of the year with an unprecedented 5.85 million active player accounts, representing an increase of 24% compared with H1 2025. This figure reflects the number of active accounts reported by the regulator and should not automatically be interpreted as a count of unique individuals.

Future performance will depend partly on whether the online sector can maintain engagement after the FIFA World Cup. June's exceptional sports betting activity may be difficult to reproduce without another comparable event, making the behaviour of existing customers an important indicator for the remainder of the year.

FDJ United's performance will also remain significant. The ANJ stated that the company accounted for 61% of gambling revenue within the market covered by its report, excluding casinos and gaming clubs. FDJ United has indicated that it expects its French network activities to remain broadly stable over the full year.

PMU, meanwhile, is working through a transition period while developing its “PMU 2030” plan. Its 2026 budget provides for a contribution of €725 million to the French horse racing industry, compared with €802 million in 2025. The planned reduction reflects a lower budgeted contribution, although the actual outcome will depend on the business's subsequent performance and financial position.

Conclusion

France’s gambling market entered the second half of 2026 with steady overall revenue but a clear shift in the sources of growth. The 0.5% increase in gross gaming revenue demonstrates that expansion across the industry has become more restrained than in the previous year, despite the stronger performance of online operators.

The digital sector has emerged as the principal growth driver, supported by higher sports betting activity, increased poker revenue and stronger horse racing stakes. The record of 5.85 million active player accounts further highlights the significance of online engagement. Nevertheless, the concentration of sports betting growth in June means that the sustainability of this momentum remains an important consideration.

At the same time, declines at FDJ United and PMU illustrate the challenges facing traditional gambling activities. Lottery performance and horse racing revenue continue to influence the wider market, while both operators enter the remainder of the year with areas requiring attention.

The final assessment of 2026 will depend on whether online growth can continue beyond the World Cup and whether the established operators can stabilise their results. For regulators and industry participants, the task will be to monitor these commercial developments alongside player protection and the integrity of the regulated market. The first-half figures therefore provide a mixed picture: digital gambling is expanding, but its progress has not yet translated into strong growth across the entire French gambling industry.

FAQs

How much revenue did France’s gambling market generate in H1 2026?
The market covered by the ANJ report generated €5.66 billion in gross gaming revenue during the first half of 2026, excluding casinos and gaming clubs. This represented annual growth of 0.5%.

How much did the French gambling market grow compared with 2025?
Gross gaming revenue increased by 0.5% year on year in H1 2026, compared with growth of 4.1% during the same period in 2025.

Which segment drove growth in France's gambling market?
Online gambling was the only segment contributing positively to overall market growth. Sports betting remained the largest contributor to online revenue, followed by poker and horse racing betting.

What was the revenue from online gambling in France?
Online gambling gross gaming revenue reached €1.45 billion in the first half of 2026, an increase of 11% compared with the same period in 2025.

How many active online player accounts did France record?
The ANJ reported 5.85 million active online player accounts in H1 2026, an increase of 24% compared with the first half of 2025.

How did the FIFA World Cup affect sports betting activity?
Sports betting stakes increased by 47% year on year in June 2026. The month coincided with the start of the FIFA World Cup and a substantial increase in promotional spending by operators.

How did poker perform in the first half of 2026?
Poker gross gaming revenue reached €290 million, rising 13.4% year on year. Active player accounts increased by approximately 39%.

Why did FDJ United's French exclusive-rights revenue decline?
FDJ United's revenue from its exclusive-rights activities in France fell by 2% to €3.43 billion. The decline was mainly associated with weaker lottery results, particularly draw games.

How did PMU perform in H1 2026?
PMU's exclusive-rights gross gaming revenue declined by 5.8% to €782 million. Stakes fell by 3.8% to €3.1 billion, extending a three-year pattern of weaker first-half results.

What are the main factors to watch in the second half of 2026?
The main factors include online player engagement after the FIFA World Cup, the sustainability of sports betting growth and the financial performance of FDJ United and PMU. Player protection and regulatory oversight will also remain important considerations.