French Legal Euro 2024 Bets Fall Below ANJ Estimates
The Euro 2024 tournament has ended with winners and losers across all fronts, from the teams that battled for the championship to the fans who wagered on their favorite nations. While some predictions for the event aligned, others have fallen short. The latter is the case regarding the ANJ's estimates on Euro 2024 legal bets in France.
There has been no significant increase in French Euro legal bets since the previous tournament in 2021.
LISTEN TO THIS ARTICLE:The French Online Gaming Association (AFJEL) has reported that legal bets on Euro 2024 in France were 50% lower than the pre-tournament projections of up to €1 billion.
According to the AFJEL, initial analysis of post-tournament betting data from its member operators indicates a "plateau" in legal wagering activity, with no significant growth observed since the previous tournament, Euro 2020, held in 2021 due to the COVID-19 pandemic.
In addition to the stagnant betting market over the past three years, the AFJEL reported that its members experienced a significant decline in wagering activity, with stakes dropping by 25% compared to the 2022 World Cup.
The association stated that the unusually low figures in France's regulated betting market sharply contrasted the trends seen across Europe and suggested that this discrepancy is evidence of a widespread shift in players from legal to illegal betting platforms.
The AFJEL warned that the illegal betting market is experiencing unchecked growth, and the French gambling regulatory body Autorité Nationale des Jeux (ANJ) 's efforts to restrict access to these unauthorized platforms are not working.
Although online casino gaming is not regulated in France, the activity continues to thrive in a legal gray area, prompting increasing calls from industry stakeholders, including the AFJEL, for the government to oversee the market.
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However, despite the challenges posed by the illegal market, the AFJEL noted that licensed betting operators performed well during Euro 2024.
There are several reasons for this: the first is that the operators played the game in accordance with the ANJ guidelines and the rules on player protection, the systems of which continue to be improved. The second is that they fully respected their additional commitments, which they had initiated, and which they had made within the framework of several Charters.
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