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French Sports Betting Suffered Much from COVID-19

3 September 2020, 10:39
Votes: 1

The recent data on the bookmaking sector in France appeared in the betting news, proving that the second quarter wasn’t an easy period for it.

French Sports Betting Suffered Much from COVID-19

According to the latest reports, the pandemic has influenced the betting sector more than other verticals. The negative impact reflects in figures, which show that online gambling revenue has decreased by 5.6% because of the lack of sports betting.

At the same time, the horseracing sector has experienced considerable growth this year – it has increased by thirty-three percent. Moreover, its revenue estimated at eighty-eight million euros is the highest rate since 2010. Bettors have spent €192 million on horseracing wagering from mid-March till mid-May, which is almost thirty million euros more in comparison to the previous year. The same situation is in the poker vertical that has thrived during the pandemic as it has given a boost to this sector of the gambling industry. It has grown by 82.4% and generated €110 million for six months.

Are the figures so frightening?

As the regulator informs, the sector’s revenue has fallen to €323 million for three months, when all sports events have been canceled. The football season in France had to break off rapidly, and this fact also harmed the market. The amount of money spent on this betting type has decreased to €513 million (57.2%).

Read more: Advantages of online betting on horse racing

Read more: List of sports betting data providers

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