FCA or The French Competition Authority of France previously fined betting company PMU or Pari-Mutuel Urbain €900,000 or US$984,275 for failing to separate liquidity in its online and retail betting operations.
The company has been maintaining separate liquidity for retail and online channels since 2014 according to the FCA. However, this is only for domestic events. It failed to create separate pools for international events. Online betting firms Betclic and Zeturf brought this matter to the attention of authorities. This is after they discovered the shortcomings of PMU in compliance commitments.
Currently, PMU offers coverage for horse races in the United States, France, Norway, Ireland, Sweden, and South Africa. Retail and online better platforms offer the same odds and prize pools in the international races and fail to keep them segregated, as noted the the online betting firms.
The authority has stated that it adds together the retail and online betting pools with the money PMU takes from its international partners. Then, it transfers these funds into a single large jackpot. This makes the international racing offerings as attractive as the online and retail outlets of the firm.
Just recently, the PMU made a huge announcement for a large format bistro/betting/video concept that first opened in Bordeaux.
