$40 million prizemoney boost for Victorian thoroughbred racing

Racing Victoria (RV) welcomes the Labor Government’s announcement that it will commit $33 million from 2019 to support increases to the minimum levels of thoroughbred prizemoney. 

Should the Government be returned at November’s state election, RV has committed to boosting the package of prizemoney increases to a total in excess of $40 million to further drive continued local and international investment in Victorian thoroughbred racing and support jobs across the state.

The increases will be spread across all levels of the sport with an emphasis on supporting grass roots competition in the Victorian thoroughbred racing industry which generates over $3 billion annually for the Victorian economy and supports the equivalent of 25,000 full-time jobs.

The package, which would be implemented from 1 January 2019, would ensure that the minimum prizemoney for every category of Victorian race would be the equal of anywhere in the nation and includes:

  • $35,000 minimum prizemoney per race at over 170 country race meetings;
  • $50,000 minimum prizemoney per race for midweek metropolitan race meetings;
  • $135,000 minimum prizemoney per race for Saturday metropolitan races for three-year-olds and races over 2000m or further; and
  • $125,000 minimum prizemoney per race for all other Saturday metropolitan races excluding pathway races.

RV has welcomed the commitment of the Andrews Labor Government to ensure that Victoria remains the premier state for thoroughbred racing in Australia.

RV Chairman, Brian Kruger, said: “We welcome this strong commitment from the Andrews Labor Government to strengthen their support of Victorian thoroughbred racing and importantly the 92,000 people that actively participate within our industry.

“Victoria has long been regarded as the premier racing state in Australia and like the Andrews Labor Government we are committed to maintaining that position of primacy.

“A vibrant and successful thoroughbred racing industry is great for Victoria. Enhancing returns to our owners, trainers, jockeys and breeders, particularly at the grass roots, is crucial to that.

“80% of our racing is conducted outside metropolitan Melbourne and this package would see minimum prizemoney increases at all country TAB meetings. This continues the support for grass roots racing with increases already implemented this season for country non-TAB meetings.

“Victoria is the home of the stayer, hosting 40% of the nation’s staying races including its most famous cups. Through this prizemoney package we want to ensure that Victoria remains the destination to race a stayer or a three-year-old.”