France’s regulated gambling market grows 3% in 2025 to €14.1bn

France’s regulated gambling sector recorded moderate but stable expansion in 2025, with total gross gaming revenue reaching €14.1 billion. The figures, published by Autorité Nationale des Jeux, reflect a year-on-year increase of 3 percent, positioning the country among the leading European gambling markets.

This growth was largely supported by the continued rise of online betting, consistent lottery performance and a recovery in land-based casino activity. At the same time, structural challenges remained evident in certain segments, particularly within the horse racing operator PMU, which experienced further declines.

The overall performance suggests a market in transition, balancing digital expansion with evolving consumer habits and regulatory pressures.

Online betting and lottery activity drive expansion

Online gambling continued to play a central role in shaping France’s market trajectory in 2025. Total online gross gaming revenue reached €2.617 billion, marking an increase of 8.5 percent compared to the previous year. This segment now accounts for approximately 18.5 percent of the entire gambling market.

Within the digital space, online sports betting remained the dominant contributor. Revenue from sports wagering climbed to €1.766 billion, reflecting a 10.4 percent rise year on year. Player stakes also increased significantly, growing by 12 percent to reach €11.517 billion.

Football retained its position as the most popular betting category, attracting the highest volume of wagers. Tennis also played a meaningful role in sustaining engagement levels. Notably, the regulator observed that the market maintained growth despite a less event-heavy sporting calendar compared to 2024. This indicates a gradual shift toward more consistent betting behavior, less dependent on major tournaments or global competitions.

In parallel, lottery operations under FDJ continued to provide a stable foundation for the market. FDJ’s exclusive rights business represented nearly half of total gambling revenue, supported by a 3.4 percent increase in lottery sales. This steady performance highlights the enduring appeal of lottery products among French consumers, even as digital alternatives expand.

Land-based casinos show signs of recovery

After a period of disruption in previous years, France’s land-based casino sector demonstrated renewed stability in 2025. Gross gaming revenue from casinos rose by 3.4 percent, reaching €2.816 billion.

Visitor numbers also improved, with total admissions increasing by 2 percent to 31.6 million visits. This recovery reflects a gradual return of consumer confidence and tourism, as well as the resilience of physical gaming venues in a market increasingly influenced by digital platforms.

However, the performance was not uniform across all physical gambling formats. Gaming clubs in Paris experienced a notable downturn, with revenue declining by 21 percent to €97 million. This decrease was partly attributed to operational disruptions, including closures during the early months of the year.

Despite these challenges, the broader casino segment remains a significant contributor to France’s gambling ecosystem, balancing the rapid growth seen in online channels.

PMU faces continued structural decline

While several segments reported growth, PMU continued to encounter persistent difficulties. The operator’s exclusive rights activities generated €1.651 billion in gross gaming revenue in 2025, representing a decline of 2.8 percent.

Betting stakes also fell by 3.3 percent to €6.4 billion, while the number of active players dropped by 5.7 percent to 3.3 million. These figures reverse the partial recovery observed in 2024 and suggest deeper structural issues affecting the horse racing betting sector.

The decline may be linked to shifting consumer preferences, increased competition from online sports betting and broader changes in entertainment consumption patterns. The data indicates that PMU faces a critical period in redefining its position within an evolving market.

Regulatory outlook and market pressures

The French regulator, Autorité Nationale des Jeux (ANJ), has signaled growing concern about the direction of the gambling market, particularly as new challenges emerge. Isabelle Falque-Pierrotin emphasized that the coming year could prove pivotal for the industry.

“2026 is shaping up to be a decisive year for the entire gambling market. Whether it is about consolidating acquisitions, quickly halting an entrenched decline or dealing with intensifying competition ahead 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 is necessary to continue the expected shift toward a less intensive gambling model and to propose adjustments to the current regulatory framework in order to lower the temperature of gambling.”

Her statement reflects broader regulatory priorities focused on sustainability, consumer protection and the mitigation of excessive gambling behavior. Authorities appear increasingly attentive to balancing market growth with responsible gaming measures.

Market trends point to a shifting landscape

The 2025 results illustrate several key trends shaping the French gambling sector. Digitalization continues to accelerate, with online platforms capturing a growing share of consumer activity. This shift is accompanied by changing user behavior, where engagement is becoming more consistent and less reliant on major sporting events.

At the same time, traditional segments such as horse racing betting are facing pressure to adapt. The divergence between growing online segments and declining legacy operations highlights the uneven pace of transformation across the industry.

Economic factors, regulatory developments and technological innovation are expected to further influence market dynamics in the coming years. Operators will likely need to invest in digital capabilities while maintaining compliance with evolving regulatory standards.

Looking ahead to 2026

The outlook for 2026 remains uncertain but potentially transformative. The upcoming football World Cup is expected to test the responsiveness of the market, particularly within online sports betting. Historically, such global events have driven spikes in betting activity, though recent trends suggest a more stable baseline may be emerging.

In addition, regulatory adjustments and taxation changes could reshape the competitive environment. Operators may face increased pressure to balance growth ambitions with stricter compliance requirements.

Competition is also expected to intensify, both from domestic operators and international entrants. This could lead to consolidation within the market, as companies seek to strengthen their positions through strategic partnerships or acquisitions.

Conclusion

France’s gambling market in 2025 reflects a sector undergoing steady evolution rather than rapid transformation. The overall growth to €14.1 billion demonstrates resilience and adaptability, particularly in the face of changing consumer preferences and external pressures.

Online betting and lottery operations continue to drive expansion, supported by strong engagement and consistent demand. Land-based casinos have shown encouraging signs of recovery, reinforcing their relevance within the broader ecosystem.

However, the ongoing decline of PMU highlights the challenges faced by traditional segments in adapting to a digital-first environment. This divergence underscores the importance of innovation and strategic repositioning for operators seeking long-term sustainability.

As the market moves toward 2026, regulatory oversight is expected to play a more prominent role in shaping its trajectory. The emphasis on responsible gambling and balanced growth may define the next phase of development.

Ultimately, France’s gambling sector stands at a critical juncture, where opportunities for expansion coexist with structural challenges. The decisions made by regulators and operators in the coming period will likely determine the market’s direction for years to come.

FAQs

What was the total value of France’s gambling market in 2025?
France’s gambling market generated €14.1 billion in gross gaming revenue in 2025.

Which segment contributed most to growth?
Online betting and lottery activity were the primary drivers of market growth.

How did online gambling perform in 2025?
Online gambling revenue increased by 8.5 percent to €2.617 billion.

What was the performance of sports betting?
Online sports betting generated €1.766 billion in revenue with a 10.4 percent increase.

Did land-based casinos recover?
Yes, casino revenue rose by 3.4 percent and visitor numbers also increased.

Why did PMU experience a decline?
PMU faced declining stakes, revenue and player numbers due to structural challenges.

What role does FDJ play in the market?
FDJ accounts for nearly half of the market through its lottery operations.

How did Paris gaming clubs perform?
They recorded a 21 percent decline in revenue due to early-year closures.

What are the expectations for 2026?
The market may face intensified competition, regulatory changes and the impact of the football World Cup.

What is the regulator’s main concern?
The regulator is focused on promoting a more sustainable and less intensive gambling model.