The Queensland Thoroughbred Racing industry will receive a $17 million boost in prizemoney from next year.
With the Palaszczuk Government poised to return 80% of Betting Taxes back to the industry from next month, Racing Queensland has unveiled its latest Investment Growth Plan, which will commence from February 1, 2023.
The latest round of increases means that prizemoney in the state will have doubled in the space of just seven years.
“But we’re not prepared to rest on our laurels. RQ boasts a relentless focus on growing revenue which enables growing returns to participants beyond $330 million by 2025 and a $450 million infrastructure pipeline over the next five years,” RQ Chair Steve Wilson AM said.
The breakdown of prizemoney distribution will be as follows:
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Saturday metropolitan racing increasing from $75k per race to $85k
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Midweek metropolitan racing increasing from $37k per race to $40k
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SEQ provincial maidens increasing from $26k per race to $30k
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Stakes raises for all Group 2 races to a minimum of $300k
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Stakes raises for all Group 3 races to a minimum of $200k
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Stakes raises for all Listed races to a minimum of $160k
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16 $1 million+ races
Racing Queensland’s lucrative QTIS bonus scheme has also received a significant boost, namely the inclusion of 4YOs and 5YO as eligible age categories;
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Removal of category A registration fees
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Introduction of 4YO bonuses twice per month at Saturday metropolitan meetings
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Introduction of 4YO bonuses twice per month at midweek metropolitan meetings
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Introduction of 4YO & 5YO bonuses twice per month at provincial meetings
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A further $200,000 in QTISx bonuses (black type races & eligible feature races)
