The horse racing industry in France

The horse racing industry includes all activities related to horses, such as breeding, racing, horse riding and equestrian tourism. In France, this sector plays a key role in the rural economy and national culture.

Structure and organization of the horse racing industry in France

In France, the horse racing industry is a complex but well-structured industry, organized around several key institutions and stakeholders that work together to manage and develop horse-related activities. The case of France Galop, which is responsible for managing gallop races, organizing competitions and supporting thoroughbred breeding. Le Trot regulates trotting races and organizes major events such as the Prix d’Amérique.
The main operator of horse racing betting, the PMU (Pari Mutuel Urbain) manages betting and redistributes revenues to race organizers and breeders. The Fédération Nationale des Courses Hippiques (FNCH) coordinates the activities of racing companies and represents the interests of the sector.
The Institut Français du Cheval et de l’Équitation (IFCE) offers training for horse professionals and conducts research in equine sciences. AFASEC offers training programs for workers in the horse racing sector and provides social support.

Turnover and economic impact of the horse racing sector in France

The horse racing sector in France is a vast and dynamic economic sector, with an estimated turnover of around €2.8 billion in 2022. This industry is divided into several key segments, each of which contributes significantly to the overall turnover.
Horse racing alone will reach a turnover of around €850 million in 2024. Horse registration fees, winners’ bonuses and event organization costs contribute to this amount. With 18,000 races spread across 235 active racecourses in France, the main races such as the Prix de l’Arc de Triomphe and the Prix du Jockey Club generate significant revenues.
Horse racing betting, for its part, has bet on a turnover of around 10 billion euros in 2023. This sum includes bettors’ stakes and operators’ commissions. Betting represents a significant portion of the overall turnover with a large portion coming from online platforms and traditional betting locations. This constantly increasing figure is supported by growth across all distribution channels (digital point of sale). The PMU has paid out around 835 million euros to the sector, thus contributing substantially to its financing.
Breeding racehorses is an activity that requires significant investment, but also generates significant revenues. Its turnover amounts to up to 200 million euros per year. Revenues are mainly generated from the sale of horses, breeding fees and investments in breeding facilities.
In addition, a segment includes revenues from training services, veterinary care, the sale of racing equipment and training facilities. These related activities have a turnover of approximately €100 million each year.

Thanks to the efficient management and regulation of racing, betting and breeding by many key bodies, the horse racing industry in France is supported with a turnover maintained at several billion euros, thus contributing to the continued growth of the sector.