Total online poker Gross Gaming Revenue (GGR) in France for Q2 2019 reached €63 million, according to figures released by French gaming regulator ARJEL.
Though the figure represents a sequential decrease from nearly €68 million reported in Q1, such a decrease is expected due to the seasonal nature of online poker.
On an annual basis, online poker rose an impressive 5% over the same period in 2018, bucking the trend exhibited over the previous two quarters. The rise in Q2 has put 2019 slightly ahead of 2018 over the first half of the year.
Breaking down revenue in cash games and tournaments, the former as a proportion of total poker rose slightly (0.4%) compared to Q2 2018. The increase on a sequential basis was more than double, with cash games growing a full percentage point share over the amount reported in Q1.
Cash games generated a total of €21.5 million in revenue last quarter, representing the first annual increase in absolute revenue in the category since Q4 2017 and the largest in the history of the regulated market.
Revenue from tournaments—both Multi-Table Tournaments (MTTs) and Sit & Gos (SNGs)—dropped significantly from €45.4 million in Q1 2019 to €41.5 million last quarter. But, like cash games, Q2 figures for tournaments represent a sizeable annual increase over the €39.8 million generated during the same period in 2018. In addition, poker tournament entry fees rose on an annual basis by 4%.
The average buy-in for both MTTs and SNGs also increased last quarter, both on a sequential and annual basis, with SNG entry fees reaching their second highest level on record (behind only Q4 2018).
Overall, igaming revenue across all verticals (sports, horse racing and poker) generated €343 million in Q2. Sports betting brought in the most revenue, while horse racing recaptured its second-place status over poker.
The second quarter has consistently been one of growth for total igaming GGR in the French market and 2019 was no exception. While horse racing and poker reached new heights in 2019, sports wagering has been the consistent driver of growth over the years.