Sports betting revenue from horse racing in France fell during the first quarter of 2017 but paramututal operator PMU reported slight growth of 0.5 per cent.
During the first quarter, horse race betting across France was actually down 1.5 per cent.
The PMU stated: “The first quarter of the year is marked by a return to growth. Overall activity was slightly positive (+ 0.5 per cent) at € 2.546bn for gross gaming revenue of €626.9m, down 0.6 per cent. The equestrian stakes are up 0.6 per cent to €2.324bn, despite the cancellation of a Quinté + meeting during the quarter. The gross gross margin of betting was down 0.4 per cent to €612.2m. While the French market posted a slight decline of 1.5 per cent to €2,021bn in stakes over the period, the month of March saw a marked growth in the activity of the network of points of sale.”
In 2016, the PMU recorded a 1.3 per cent increase in overall gaming revenue, to € 2.444bn
The PMU became the first operator to offer a CashOUT facility for the French market. It is offering another novelty called Turfoot, which is the first bet mixing horse racing and football. This game, combining three horse racing and three football games has had a ‘very encouraging start.’