Due to a better-than-expected profit margin generated by the PMU in November and December, France Galop will redistribute €15-million in prizemoney and premiums for races between May 11 and Dec. 31, 2020 that experienced purse cuts. Prizemoney in France dipped by 20% in 2020. The redistribution will take place this week, and France Galop has added a special condition to races taking place from Jan. 28 through Feb. 9 that ensures the additional earnings don't preclude horses from races that they're currently being declared for.
With PMU outlets in cafes and bars forecast to be closed potentially until June, France Galop is projecting a 25% drop in betting turnover for 2021. Prizemoney will be paid out in full in January and February, but from Mar. 1 onwards prizemoney and premiums will be cut in anticipation of losses. France Galop's objective remains to redistribute the amounts initially withheld at a later stage. The severity of purse cuts will be decided during the second half of February and will be applied in linear fashion to all races, but will not affect transport allowances. France Galop projects the cuts could be in the region of 15%.
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