Posted on: September 28, 2023, 08:22h.
Last updated on: September 28, 2023, 01:32h.
Global gaming operator Betsson is entering the French online betting market, and the timing couldn’t be better. A new partnership paves the way for expansion into the country just as noncasino gambling is seeing significant growth.
Betsson’s entrance into the French market is the result of a collaboration with a local partner. It’s a move strategically aimed at bringing the company closer to the French sports betting arena. In the fourth quarter of 2023, the official launch of Betsson’s flagship brand will take place.
The operator didn’t reveal many details about the new arrangement, including the identity of its new partner, but said it plans on using the Betsson name after the launch.
Betsson Continues European Expansion
This venture into the regulated French sports betting market aligns with Betsson’s overarching and continuing strategy of expanding into new countries and regions. Betsson’s sportsbook in France will draw its strength from Sportradar, supported by Omega Systems’ Player Account Management system.
Additionally, according to the company, it will incorporate a variety of innovative and user-friendly enhancements crafted by Goma Development. The Portugal-based company provides a sportsbook platform, a gaming API, and a number of white-label gaming alternatives.
Betsson has a strong presence in Europe, North America, and South America, although it has run into issues gaining stability in some markets. While it looked to fortify its presence in Latin America last year with a new operations center in Colombia, it recently lost ground in Chile following a Supreme Court order that banned online sportsbooks. It was also previously active in the Netherlands, but exited because of a controversy over licensing requirements.
The turmoil hasn’t been too harmful to the company’s bottom line. This past July, it reported revenue of $265 million for the second quarter, a year-on-year increase of 27%. That broke the first quarter’s record of $246.85 million) by 6.7%.
More Revenue Growth Ahead
The increase in revenue will likely continue through Betsson’s entry into France. The country’s gaming regulator, the National Gaming Authority (ANJ, for its French acronym), recently provided the financial data for the first half of the year, and the results are positive.
For the first six months of 2023, noncasino gambling in France was worth €5.3 billion ($5.6 billion), 4% greater than the same period last year. Sports betting was responsible for 64% of the total, with online horse racing taking 15%.
The handle for the period was €4.2 billion ($4.4 billion), a year-on-year increase of 5%. Gross gaming revenue for online sports betting closed at €750 million ($790.4 million), a 10% jump.
Online sports betting continues to become more popular in France, as is the case in other countries. The number of active user accounts in the first half of the year was 3.17 million, according to the ANJ’s data. This is 12% higher than last year.