A raft of prizemoney increases in New South Wales due to come into effect next month has made the appeal of racehorse ownership greater than ever.
Racing NSW chairman John Messara described the prizemoney boost as a “watershed day” for the state’s racing participants.
By October 1 total prizemoney in New South Wales will have exceed $202 million, significantly more than the $118 million in financial year 2012.
“After today’s announcement, New South Wales will be one of the great racing jurisdictions in the racing world,” Messara said. “And I’m talking worldwide.
“Other than the closed if you like jurisdictions such as Japan and Hong Kong, the return to owners will be superior to any other jurisdiction.”
The prizemoney increases are as follows:
- Metropolitan Saturday minimum prizemoney increasing to $100,000 per race or almost 18 percent from $85,000.
- Provincial minimum prizemoney increasing to $30,000 per race or 36 percent from $22,000.
- Country TAB minimum prizemoney increased to $20,000 per race or 33 percent (from July 1, 2016) from $15,000.
- Country Sky 2 meetings minimum prizemoney increasing to $10,000 per race or 25 percent from $8000.
- Addition of an eighth race to 20 selected midweek and night ATC race meetings, injecting a further $800,000 in prizemoney.
- Inclusion of an $80,000 feature race on Australian Turf Club night meetings, injecting a further additional $320,000 in prizemoney.
- Group II minimum prizemoney level increasing to $200,000 per race or 14 percent from $175,000.
- Group III minimum prizemoney level increasing to $150,000 per race or 20 percent from $125,000.
- Listed Race minimum prizemoney level increasing to $125,000 per race or 25 percent from $100,000.
- Inclusion of a $150,000 feature race on selected metropolitan meetings.
- BOBS bonuses of $20,000 to be added to two and three-year-old Listed races.
- Country and Provincial Championships qualifying heats to be run for $150,000.
- A fortnightly $40,000 provincial maiden race on selected meetings.
- Thirty $40,000 country restricted maiden races on selected Showcase meetings.
These latest prizemoney boosts are but a taste of what is to come as the NSW industry gains full benefit of the tax parity agreement announced by the government in June last year.
Under last year’s prizemoney scheme, Proven Thoroughbreds gallopers earned more than $1.2 million, more than half of which was accrued in NSW.
In more positive news, Racing NSW CEO Peter V’landys has announced a new initiative to ensure every horse that’s domiciled in NSW will be re-homed via a reallocation of one percent of prizemoney into a Horse Welfare Fund.