The French gambling regulatory authority, the Autorité Nationale des Jeux (ANJ), has approved La Française Des Jeux’s (FDJ) 2026 gaming and betting program. However, this approval comes with significant stipulations regarding game offerings and marketing strategies. FDJ, while retaining its exclusive national rights, will be prohibited from offering certain games and employing specific promotional techniques.
This decision follows the ANJ’s annual report, which revealed a concerning upward trend in problem gambling rates in France. For the first time since 2020, the number of individuals self-excluding from gambling activities increased year-on-year, rising from 40,000 in 2021 to 85,000 in 2024.
Consequently, FDJ is banned from using promotional messaging that emphasizes winning probabilities. The regulator specifically cited examples such as phrasing like “more than x chance(s) in x of winning” and “Best chance of winning €X” as unacceptable. This restriction contrasts with FDJ’s stated aim to enhance the appeal of its lottery and sports betting offerings through promotions, innovation, and digitalization.
The ANJ’s regulatory measures also address revenue generation from problem gamblers, particularly within the online gaming sector. Specific games have been targeted for modification or removal, including successive online draws, online scratch cards, and those categorized as “Web Exclusive.”
In particular, FDJ’s “Amigo” draw game is not authorized for online distribution, extending the ANJ’s ban on successive draw games into the coming year. Similarly, the restriction on €3 ($3.52) physical and online scratch cards remains in effect, while the number of €5 scratch cards is limited to two. More broadly, the ANJ has mandated a reduction in the total number of online-exclusive games offered by FDJ, particularly those priced at €2, €3, or €5.
The ANJ’s recent study on scratch cards and their association with risk further informed these regulations. Scratch cards are incredibly popular in France, the second most popular gambling activity after the lottery, attracting 20 million players and generating €10.7 billion in bets in 2024. While acknowledging the entertainment value of these games, the study highlighted a heightened risk of problem gambling among players engaging with both retail and online scratch cards, particularly when ticket prices exceed €3. The research also demonstrated that high-risk gamblers are more vulnerable to advertising, especially when incorporating additional gaming mechanisms.
## Impact on FDJ and Market Reaction
It is noteworthy that FDJ’s share price experienced a significant 11.1% drop to €30.30 in the preceding week. The correlation between this market reaction and the recently implemented regulatory changes warrants consideration.
