France’s regulated gambling market grew 3% in 2025, reaching a total gross gaming revenue (GGR) of €14.1bn, according to the annual market review published by l’Autorité Nationale des Jeux (ANJ) on 17 April 2026.
The result places France broadly in line with other major European markets. The UK expanded 4.3% over the same period; Italy grew 1.9%.
Online Sector Leads Growth
Online gambling was the primary growth engine. GGR from the competitive online segment rose 8.5% to €2.617bn, now representing 18.5% of total market GGR, up from 16.4% in 2023.
All three regulated online segments — sports betting, horse racing and poker — posted revenue increases. The ANJ noted that this growth came despite a 2025 sporting calendar less favourable than 2024, which had included the UEFA European Championship and the Paris Olympic Games. The regulator described the result as evidence that the online segment can grow beyond major event cycles.
Player participation expanded alongside revenue. Unique online players rose 7.5% to 4.2 million. Active player accounts grew 7.1% to 6.1 million. Players active across all three segments increased 25%, a trend the ANJ flagged as a structural shift toward multi-segment participation.
Segment Breakdown
Sports betting was the largest contributor to online growth. GGR reached €1.766bn, up 10.4% year-on-year. Total stakes rose 12% to €11.517bn. Football and tennis drove the increase, accounting for 49% and 30% of the rise in stakes respectively. Active sports betting accounts reached 5.3 million, with 3.6 million unique bettors.
Poker recovered to growth, posting GGR of €525m, up 6.5%, driven entirely by tournament formats. Active poker accounts grew 16.5% to 2.5 million; unique players rose 15.1% to 1.9 million. The ANJ observed that rapid player base expansion in poker and horse racing was accompanied by lower average spend per player — down 8.6% and 5.2% respectively — a pattern consistent with the recruitment of more casual players through multi-segment engagement.
Horse racing online GGR rose 2.4% to €326m. Active accounts and unique players grew 8.1% and 8.4% to 718,000 and 604,000 respectively.
FDJ United, PMU and Casinos
FDJ United, the state lottery and retail sports betting monopoly, generated GGR of €6.95bn under exclusive rights, up 2.8%, representing 49.2% of total market revenue. Lottery GGR drove the increase at 3.4% growth. At group level, including the first full-year consolidation of Kindred, FDJ United reported total GGR of €8.706bn, up 0.8% on a comparable basis. European online operations — primarily the UK and Netherlands — declined 8%.
PMU, the exclusive horse racing operator, continued to contract. GGR fell 2.8% to €1.651bn. Stakes dropped 3.3% to €6.4bn. The player base contracted 5.7% to 3.3 million, having briefly recovered to 3.5 million in 2024. PMU’s market share has declined from 13.2% in 2023 to 11.7% in 2025. Net contribution to the horse racing industry fell €35m to €802m.
Casinos posted a 3.4% increase in GGR to €2.816bn. Admissions rose 2% to 31.6 million visits. Slot machines accounted for approximately 82% of casino GGR. Casino groups controlled around 93% of sector revenues. Parisian gaming clubs, by contrast, reported a 21% decline in GGR to €97m following two months of closure in early 2025.
Regulatory Outlook and 2026 Risks
France ranks seventh globally and third in Europe by GGR, behind Italy and the UK. The growth trajectory puts the market on a stable footing, but the ANJ has outlined several pressures for 2026.
Fiscal changes that took effect on 1 July 2025 will produce their first full-year impact this year. The ANJ identified tax policy effects as a key variable for market dynamics across segments.
The 2026 FIFA World Cup — scheduled for the summer — is expected to drive significant betting volume, though the regulator noted uncertainty about whether major sporting events retain the same accelerating effect they historically delivered.
The regulator also flagged the experimental JONUM (Jeux à Objets Numériques Monétisables) regime, which entered into force in early 2026 and introduces oversight for monetisable digital games incorporating gambling-like mechanics. This represents an adjacent market the ANJ will monitor closely.
Problem gambling remains a stated priority. The French Monitoring Centre for Drugs and Drug Addiction estimated in 2024 that approximately 1.17 million people in France exhibit problematic gambling behaviour, with around 360,000 classified as excessive players. The ANJ has set a target to reduce these levels by 2027 and has called on operators to strengthen player monitoring and intervention tools.
“2026 is shaping up to be a pivotal year for the entire gambling market. Whether it’s consolidating acquisitions, quickly reversing a growing decline, or facing increased competition on the eve of the Fifa World Cup, all indicators are flashing red for the regulator,” said Isabelle Falque-Pierrotin, president of the ANJ.
“In this tense context, compounded by the emergence of new forms of betting, it is essential to continue the anticipated shift towards a less intensive gambling model and to propose adjustments to the current regulatory framework to reduce the perceived risk of gambling,” Falque-Pierrotin added.
FDJ United enters 2026 managing the full integration of Kindred, including unification of its online brands on the French market, while seeking to reverse the decline in European operations. The ANJ’s outlook for the market overall is one of structural growth tempered by fiscal uncertainty, rising competitive pressure and an expanding regulatory perimeter.
For related European market data, see Europe’s GGR reaching €123.4bn in 2024 and Great Britain online gambling revenue performance in Q4 2025.
Source: Autorité Nationale des Jeux (ANJ)
