Former French Gambling Monopoly See Profits Double

It has been reported that la Francais de Jeux, France’s former gambling monopoly, has seen a huge increase in its online sportsbetting profits. In 2010, FDJ made €91 million from online gambling, more than doubling its 2009 profits of €43 million, which was a 61% increase over 2008’s profits.
The French online gambling legislation was expected to cause a decline in profits for the gambling monopoly, as international operators would enter the market as competition. However, FDJ made a number of business deals before the legislation took place that would help the company recover lost profits.
In March 2010, FDJ bought LVS, using the software to provide fixed-odds sportsbetting solutions. The deal made shortly before the 2010 World Cup took place, putting FDJ in the opportune position to appeal to French football fans. The result was a massive intake of wagers that would help FDJ financial situation before the online gambling legislation would disband its monopoly.
The FDJ’s deal with mobile provider Orange will also see the former monopoly rake in additional revenue this year. Mobile gambling is the next big thing to hit the industry and France has yet to see many innovations in the field. As FDJ will be one of the first operators to offer the technology, the company will certainly see some increased profits.

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