RACING VICTORIA'S $16.5 MILLION PRIZEMONEY BOOST FOR THE 2015/16 SEASON

By Graham Potter | Tuesday, August 4, 2015

Victorian owners, trainers and jockeys will enjoy the benefits of a $16.5 million prizemoney boost for the 2015/16 season.

The increases are aimed primarily at rewarding participation at the base of the sport and providing owners with the potential for earlier returns as per the following details unveiled in a Racing Victoria press release.

The highlights of the $16.5 million prizemoney boost to Victorian racing in 2015/16 include:

•Country boost – More than two-thirds of the prizemoney increases are to races in country Victoria with an additional $11.12 million allocated across all TAB and non-TAB race meetings;

•New minimums – A 25% increase in the minimum prizemoney offered for all country TAB races (excluding 0-58 races) which rises to $20,000 and non-TABs to $10,000;

•Lucrative maidens – Prizemoney has increased across all maidens – which represent 33% of the state’s TAB races – with country TAB maidens now a minimum $20,000, country premier maidens $23,000, country night maidens $25,000 and midweek metropolitan maidens $27,000;

•Night racing dividend – Across the board increases for night racing with minimum country prizemoney rising from $20,000 to $25,000 in recognition of the additional costs to compete;

•More metro money – The minimum stake for over 70% of metropolitan midweek and standard night races has been lifted to $40,000, whilst the Saturday “ninth race” increases by 25% to $50,000 and Saturday Open Handicaps rise to $90,000;

•Sharing the pie – A re-distribution of prizemoney in non-Group and Listed flat races at TAB meetings that will see the connections of horses placed fourth to 10th better rewarded; and

•More flexible model – An expansion of the existing model which provides for varying minimum prizemoney levels across different classes of race at each meeting.

The $16.5 million increase takes the total prizemoney in Victoria to $174.2 million (excluding VOBIS bonuses) in the 2015-16 season which completes a 21.3% increase in total prizemoney since 2012.