French Prize Money Increased For 2022; Returns To 2017 Levels

Prize money in France is set to rise to €278 million (about US$313 million) next year, returning to the equivalent levels of 2017.

This level of prizemoney would mean a return to the equivalent level of 2017, as in 2018 France Galop had to implement a reduction in prizemoney. This budget represents an increase of €20M (+7.75% vs. 2019) and €30M (+12%) compared to 2021.

The increase is primarily due to growth in PMU (the third-largest pool betting service globally) net contribution to €820-million, the first time since 2015 that number will rise above the €800M mark. The contribution is up €60M compared to 2019, thanks to a return to growth in betting turnover in France, a sustained international expansion and a significant drop in PMU expenditures (-€40M compared to 2019).

Discussing the 2021 levels, France Galop said: “The limited erosion of 2021 prize-money is the result of the good resumption of betting activity since the reopening of betting shops, as well as the constant efforts made by the PMU and France Galop to reduce their costs.”

France Galop‘s 2022 budget plan was submitted during a Monday board meeting, and will be formally approved at a committee meeting on Dec. 13.

The post French Prize Money Increased For 2022; Returns To 2017 Levels appeared first on Horse Racing News | Paulick Report.

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