Olybet launches in France: a new player in the sports betting market

On October 9th, 2024, Olybet, a fresh entrant to the sports betting market, officially launched in France. This new platform aims to offer French bettors another option in the growing industry of online sports wagering. Olybet has set out to carve its place in an already competitive market.

The French sports betting market has been quite active recently, with the launch of another betting site last week. Olybet is the fourth bookmaker to open its doors in less than a year. Betsson started operating in France in November 2023, and CircusBet has just made its debut also in 2024, which has brought a breath of fresh air to the sports betting market, in a market where new betting sites are normally rather rare.

Olybet has obtained an ANJ (formerly ARJEL) license number, but it did not obtain it on its own. The bookmaker arrived in France by taking advantage of the already existing license of France-Pari, a French betting site that is now closed, as we have learned from Lebonparisportif.com, a French site specialized on bookmakers, on their article “Olybet, le nouveau site de pari ouvre enfin ses portes en France” (article in French). This is already the strategy used by Olybet in Spain, so it’s not surprising. More and more bookmakers are using this technique to enter a heavily regulated market like France.

France’s sports betting sector has seen exponential growth over the past decade. The legalization of online sports betting in 2010, coupled with the nation’s deep-rooted sports culture, has transformed it into one of Europe’s most lucrative markets. In 2023, France recorded an impressive €8 billion in sports betting revenue, solidifying its position as a key player in the global sports betting arena.

Olybet’s launch is perfectly timed to tap into this growing enthusiasm, with the French football league (Ligue 1) in full swing, and international competitions like the Champions League starting. By entering the market now, Olybet is poised to capitalize on major sporting events that will drive a surge in betting activity.

Olybet enters a highly competitive but rapidly expanding market, with established players like Betclic, Unibet, and Winamax already dominating. A few days ago, FDJ acquiring Kindred, creating a European gaming champion. 

France’s sports betting market is projected to grow steadily over the coming years, thanks in part to the nation’s passion for football, rugby, and basketball. Olybet’s innovative platform and focus on both new and experienced bettors could give it an edge in capturing a share of this expanding audience.

As Olybet embarks on its journey in France, its launch marks a new chapter in the evolution of the sports betting landscape. Time will tell how it fares, but for now, French bettors have one more exciting option to explore.