FRANCE GALOP’s main source of financing comes from the net profit from wagers made by punters, minus winnings paid out and taxes. This applies to on and off course betting on races held in France and on a selection of races held abroad.
This financing goes towards the France Galop’s main expense, i.e. the cost of running the PMU. The PMU is an economic interest grouping controlled by the various racing bodies and paid for by them pro rata according to their activity.
In addition to this, the PMU pays its parent companies the net profit from its online (internet) activity, in accordance with the guidelines set by the ARJEL (France’s Authority for Online Betting Regulations) regarding bets made on horse racing, other sports and poker.
Other financing comes from:
• Services rendered to members: association membership fees, entry fees and cancellations, publications, use of training grounds, etc.
• Letting of real estate,
• Sponsorship of the major events,
• TV rights in France and abroad,
• Admission charges at the racecourses.
France Galop’s second highest cost, after the PMU, is the budget allocated to the prize money, bonuses and premiums paid to owners, breeders, trainers and jockeys competing in races organised in France. Then come FRANCE GALOP’s own running costs, including maintenance and renovation costs, real estate expenses, advertising and public relations, and any supplies.
Within the framework of its activities, France Galop also contributes to the federation charges designed to help the provincial racing bodies and to combat the use of banned substances.
Finally, FRANCE GALOP’s fourth main expense is the salaries of its 470 staff.
FRANCE GALOP also sets aside a significant investment budget.