Major prizemoney increases will take effect in Victoria from Tuesday, 1 January 2019

Major prizemoney increases will take effect from tomorrow – Tuesday, 1 January 2019 – as the Labor Government’s election commitment of additional prizemoney for the Victorian thoroughbred racing industry begins to roll out across the State.  

A total of $33 million is being invested by the Labor Government over the next two years, with Racing Victoria (RV) committing to boost the package of minimum prizemoney increases for the period beyond $40 million.

The increases are being made to drive further local and international investment 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.

Owners, trainers, jockeys and breeders will reap the rewards from this week with minimum prizemoney increases being delivered at Flemington (tomorrow), Mornington (tomorrow), Sandown (Wednesday), Geelong (Thursday), Stawell (Friday) and Cranbourne (Friday night) in the opening days of the year.

Tomorrow’s New Year’s Day meeting at Flemington has seen increases delivered on every race, with an extra $140,000 on offer across the program thanks to the major prizemoney boost.  Minimum prizemoney has risen from $100,000 to $125,000 per race, with the four races programmed for three and four-year-olds rising from $120,000 to $135,000 per race.

Tomorrow’s black type features at Flemington, the Group 3 Standish Handicap (1200m) and Listed Bagot Handicap (2800m), both now offer $160,000 in prizemoney – up $10,000 from the previously advertised stake.

Country meetings will also benefit from the increases, with every race at Mornington tomorrow offering at least $22,000 in prizemoney, up from the previous $20,000 minimum, as will be the case at Stawell on Friday afternoon.

Premium country meetings at Geelong and Cranbourne later this week both increase to a minimum of $35,000 per race off previous minimums of $20,000 and $27,000 respectively, while Wednesday’s twilight meeting at Sandown will offer $50,000 minimums per race.

RV Executive General Manager - Racing and Participant Wellbeing, Greg Carpenter, said, “It is fantastic to see the prizemoney increases come to fruition tomorrow with owners, trainers, jockeys and breeders all able to benefit from the extra $40 million in prizemoney on offer in Victoria.

“One of the most pleasing aspects of the prizemoney boost is the spread of increases across the State, with country and metropolitan races all gaining an uplift as we aim to share the additional prizemoney with as many participants as possible, particularly at a grassroots level.

“Thanks to these increases and the introduction of the $5 million All-Star Mile, Victoria now offers over $255 million in prizemoney and bonuses a season which represents an $82 million or 47% increase since 2015.

“As we head into the New Year, I would like to take this opportunity to again thank the Labor Government for their substantial investment and for their commitment in ensuring that Victoria remains the premier state for thoroughbred racing in Australia.”

The increases to minimum prizemoney levels in Victoria are as follows:

 

 

New Minimum Prizemoney Per Race

Current Minimum Prizemoney Per Race

Country TAB - Standard

$22,000

$20,000

Country TAB - Premium

$35,000

$25,000 to $30,000

Country TAB - Night

$35,000

$20,000 to $30,000

Metropolitan – Midweek

$50,000

$30,000 to $40,000

Metropolitan – Public Holiday

$60,000

$40,000

Metropolitan – Saturday Standard

$125,000

$100,000

Metropolitan – Saturday 3YO Races and Staying Races (2000m+)

$135,000

$120,000

Metropolitan – Saturday Pathways Race

$75,000

$60,000

Listed Races

$140,000

$120,000

Group 3 Races

$160,000

$150,000