Record money on offer next season for Racing Victoria
VICTORIAN owners and trainers will be jumping for joy after Racing Victoria (RV) announced the prize money on offer will increase by $15.5 million next season.
Changes will come into effect on 1 August 2017.
In a major coup for all Victorian meets, trainers, owners and jockeys will have the opportunity to share in the boosted prize money as group one events, all the way down to picnic meets will see an increase in funds.
For the first time in the history of racing in Victoria, more than $200 million in prizemoney and bonuses will be on offer in Victoria with a total of $214 million up for grabs next season.
RV Chief Executive Giles Thompson said the increases were possible due to the prosperity of thoroughbred racing in Victoria.
“Victorian racing is performing well,” Thompson said.
“With great racing on well-presented tracks customer interest in Victorian racing is at record levels this season with wagering growth of 9% and a growing pool of over 60,000 owners.
The financial health of our industry is strong and provides the opportunity to make sustainable investments in prizemoney.”
Thompson believes the financial boost will help maintain Victoria’s status as the number one racing state in the country.
“The Spring Racing Carnival is the premier racing carnival in Australia and we remain committed to rewarding those owners, trainers and jockeys that support our Carnival which will begin on the first weekend of September with the $1 million Memsie Stakes.
“We are committed to cementing Victoria’s position as the place to race three-year-olds and stayers which is why we’ve focused enhanced investment in those areas, while at the same time increasing standard Saturday metropolitan minimums across the board.”
Thompson also believes the increase in funds will help burgeoning horse’s connections from trainers and owners stay within the industry that can sometimes be unforgiving.
“A horse’s first win can be both its most challenging and rewarding for connections, which is why we’re pleased to increase the minimum prizemoney for maiden races by 10%, while also making an important investment at our grass roots in picnic racing.
“As an industry, we are all committed to equine welfare and jockey welfare and Victoria will come into line with national policy from next season by allocating 1% of prizemoney to each.”
Victorian Jockeys Association Executive Officer Matt Hyland welcomed the news, saying it will help build the sport even further in every possible facet.
“Today’s announcement is indicative of the strength of racing in this state and acknowledges the important role that jockeys play within the industry through the contribution to their welfare.
“It is great to see that both professional and amateur jockeys will get to share in the increases next season.”
Notable changes that come into effect on 1 August
A bigger, better Spring Racing Carnival to launch on the first weekend of spring with a $1 million Group 1 Memsie Stakes (1400m) – up from $500,000 in 2016 – at Caulfield on Saturday, 2 September and the Scobie Breasley Medal on Sunday night, 3 September;
– An enhanced program of weight-for-age racing during the Spring Racing Carnival with the following prizemoney increases in addition to the Memsie Stakes:
– $750,000 Makybe Diva Stakes (1600m, Flemington, 16 September) – up $250,000
– $750,000 Underwood Stakes (1800m, Caulfield, 1 October) – up $250,000
– $1 million Caulfield Stakes (2000m, Caulfield, 14 October) – up $400,000
The positioning of Victoria as the place to race three-year-olds with minimum prizemoney for Saturday metropolitan races raised to $120,000 and the following feature race increases announced for the age group:
– $2 million Caulfield Guineas (1600m, Caulfield, 14 October) – up $1 million
– $1 million Coolmore Stakes (1200m, Flemington, 4 November) – up $500,000
– $1 million Australian Guineas (1600m, Flemington, 3 March) – up $250,000
– The affirmation of Victoria’s status as ‘the home of the stayer’ with minimum prizemoney of $120,000 for all Saturday metropolitan races over 2000m or further – an increase of 50% for some classes;
– The introduction of a $100,000 minimum for standard Saturday metropolitan races in addition to the premium increase for three-year-old and staying races (2000m+);
– Over $6 million in additional funding for country racing prizemoney including a 50% increase in minimum funding for popular picnic races;
– Greater returns for first time winners with minimum prizemoney for standard country maidens raised by 10% to $22,000, for premium country maidens to $25,000 and for maidens at country night meetings to $27,000; and
– In line with national policy the allocation of 1% of prizemoney to both jockey welfare and equine welfare to fund investment in programs, services and initiatives.