H1 2026 Gambling Report: Online Market Fuels Growth Amidst Challenges

In the first half of 2026, growth in the gambling and games of chance market slowed down. The sector's Gross Gaming Revenue (GGR) (excluding casinos and gaming clubs*) reached €5.66 billion, up +0.5% compared to H1 2025, against +4.1% a year earlier. While the exclusive rights activities of FDJ United (FDJU) and PMU are declining, the online gambling market, which accounts for 25.6% of the market (excluding casinos and clubs), is driving market growth, particularly due to the dynamism of sports betting. The first half of 2026 saw an unprecedented base of 5.85 million active player accounts.

The online gambling market is the sole contributor to growth

The GGR of the online market stood at €1.45 billion in H1 2026, growing by 11% compared to the same period the previous year. It now represents more than a quarter of the market (25.6%) excluding casinos and gaming clubs. Online sports betting remains the engine of the online segment, ahead of poker and horse race betting.

Sports betting growth is concentrated in June, the month the Football World Cup began. Stakes increased by +10.6% over the half-year (€6.6 billion), but by +4% from January to May versus +47% in June. This month also concentrates the bulk of the increase in the number of players despite various challenges in the market (+69% in active player accounts between June 2025 and June 2026), which can be paralleled with the promotional effort mobilized by operators during this period, with acquisition bonuses multiplied by nearly four compared to June 2025.

The other segments are growing more steadily. Poker GGR reached €290 million (+13.4%), driven by Sit&Go, which accounts for 70% of GGR. Active player accounts (APA) for poker increased year-on-year starting in January (+39% over the half-year). Horse race betting stakes grew by +16% (€920 million), their highest increase since 2021, with the number of players up by only +3%.

In total, the number of active player accounts amounted to 5.85 million, an increase of 24% compared to H1 2025. This growth is observable across all three activity segments of the online market.

Exclusive rights operators FDJ United and PMU

After contributing 2.7 points to market growth in H1 2025, FDJU's GGR under exclusive rights in France fell by -2% in the first half of 2026, to €3.43 billion. The lottery accounts for the bulk of this decline (-€64 million). Draw games fell by -7.6% due, according to the operator, to fewer and lower Euromillions jackpots and lower footfall at points of sale in the second quarter linked to heatwaves. Excluding long Euromillions cycles, lottery GGR grew by +1% according to the operator.

PMU's exclusive rights activities are declining for the third consecutive year. Stakes fell by -3.8% (€3.1 billion) and GGR by -5.8% (€782 million), an accelerating decline (-2.6% in H1 2025).

What are the prospects for the rest of 2026?

With 5.85 million APAs, the online market approaches the second half of the year with an unprecedented player base. Its annual growth will rely on the activity of these players after the Football World Cup.

The market's evolution over the full year will partly depend on FDJ United, which accounts for 61% of GGR excluding casinos and gaming clubs. The operator indicated it aims for stability in the GGR of its French retail network activities for the 2026 financial year.

For PMU, 2026 is a transition year, marked by the renewal of its governance and the development of a "PMU 2030 Pact." Its 2026 budget forecasts a payment of €725 million to the horse racing industry, compared to €802 million in 2025.

*The results for casinos and gaming clubs are subject to annual reporting.