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France Galop: French horseracing to lose €30m in new lockdowns

The board of directors of France Galop, the governing body for French horseracing, has released a statement detailing the detrimental impact of lockdowns on horserace betting figures in France.

horse racing

France entered a new period of lockdowns from the end of October as a result of rising COVID-19 cases in the country.

Racing was permitted to continue in this second period of lockdowns, however, the closure of non-essential shops has resulted in a decline in the amounts wagered on the vertical.

According to the group, French horseracing has “naturally suffered” from the new lockdowns, countering improvement in the market since July.

In July and August 2020 horse racing turnover was up 15% year-on-year, while this fell to 10% in September and then 1% in October.

Now, under lockdown conditions, France Galop said daily stakes are down between 20% and 30% in comparison to last year. Despite this, online has continued to see growth in comparison to previous weeks.

The group predicts that if the lockdowns continue until the end of December then there will be a shortfall in horse betting activity of around €30m ($35.6m) – relative to €15m for each month of confinement. If this is the case, then France Galop estimates it will record a net loss for the year.

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