STAKEHOLDERS ABOUT TO FEEL THE DIFFERENCE AS THE PRIZE-MONEY INCREASE KICKS IN TODAY

By Graham Potter | Friday, November 2, 2018

Today Ipswich Turf Club will have the honour of hosting what hopefully will be the start of a new era in racing in Queensland.

The $18 million first phase of the recent, significant prize-money increase kicks off at the Provincial track and there can be no doubt that participants, so often under the cosh, will feel the difference as racing looks to turnaround its fortunes on the back of a new, positive deal struck between the Racing Alliance and the State Government.

Overall, a $26 million windfall has been granted to racing … $18 million with effect from November 1 with the remaining $8 million to be injected into proceedings further down the line.

As has been well documented the initial standoff between the Racing Alliance and the State Government was not pretty but that is best left in the past.

It is not how racing got into this position that is important at this moment. More to the point is the fact that racing finances, and therefore its viability rating, has received a significant boost and everybody should now be able to move on in a more positive frame of mind.

The ball is rolling now and all racing stakeholders need to get behind it and give it a push.

While the $26 million is not the be all and end all of the issues involved in the racing spectrum, congratulations are in order to the negotiating parties, on both sides of the table, not only for arriving an agreement to raise the prize-money pool, but also for the speed of delivery … with $18 million becoming available just a week after that momentous decision was reached.

After a long wait, that’s what you call progress.

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To put the new prize-money boost into perspective, at today’s Ipswich meeting eight races are carded with runners chasing a total prize pool of $230 000. Importantly, all races now pay prize money down to tenth place.

That last point means that the connections of five runners per race (that is forty runners over the card when there is a field of ten or more … which is not always the case today) will earn prize-money where none was available before. Previously prize-money at Metropolitan status meetings (yes, today’s meeting has metro status) was paid down fifth place.

In total at metropolitan status meetings moving forward, with a card of eight races and full fields paying from first to tenth placing, no less than eighty horses will earn prize-money compared to the forty runners to do so before the activation of the new deal. The extended benefit for a card of nine or ten races, as there are at Doomben tomorrow … you do the sums.

These figures get even better when attention is turned to the Provincial scene where prize-money will now also be paid from first to tenth placing whereas before it was only paid down to fourth placing. This means for each future meeting on the Provincial circuit the connections of six runners per race (that is forty-eight runners over the card when there is a field of ten or more) will earn prize-money where none was available before.

It’s only the first day but already it is clear that the new amount of prize-money up for grabs and greater range of distribution translates into a significant, positive change in racing’s landscape.

The last time Ipswich hosted an eight-race meeting for metro midweek meeting the prize-money pool was $185 000. Today’s meeting has a prize-money total of $230 000.

Stakeholders have got to be happy with that!

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For the record this is the new $16 million prize-money breakdown, effective November 1.

Provincial gets a $12.3 million.
Metropolitan gets a $4.55 million.
Listed race and Provincial Cup money increases make up the difference.

Provincial SEQ meetings (Gold Coast, Sunshine Coast and Ipswich) - $6.9 million increase.

Standard race stakes raised from $16,000 to $21,000 (+31.25%).
Maiden race stakes raised from $15k to $21k (+40%).
Introduction of prize money for fifth-placed runners.
Introduction of $400 payment for runners placed 6th to 10th.

Provincial Queensland meetings (inc. Toowoomba, Rockhampton, Mackay, Townsville and Cairns) - $5.4 million increase.

All races at Toowoomba Turf Club raised from $14,000 to $19,000 (+35.7%).
Introduction of $19,000 races at weekly Northern Provincial Showcase meetings.
Remaining provincial stakes raised from $14,000 to $16,500 (+17.8%).
Introduction of prize money for fifth-placed runners.
Introduction of $400 payment for runners placed 6th to 10th.
Country TAB stakes raised from $12,000 to $14,500 (+20.83%) at …
(Kilcoy, Beaudesert, Warwick, Gatton, Dalby and Roma).
Key Northern Cups and the Toowoomba Cup raised to $150,000 prize money.

Mid-week Metropolitan meetings - $2.4 million increase

Standard race stakes raised from $25,000 to $30,000 (+20%)
Maidens raised from $20,000 to $25,000 (+25%)
Introduction of $500 payment for runners placed 6th to 10th.

Saturday metropolitan meetings - $2.15 million increase

Standard race stakes raised from $70,000 to $75,000 (+7.1%)
All races increased by $5,000 to accommodate introduction of $1000 payment for runners placed 6th to 10th.
Listed races to carry minimum stakes of $125,000 (+25%)