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Prizemoney Increases For NSW Racing

Racing NSW has announced prizemoney increases across all three levels of racing within the state.

Other-Rosehill-Turn-20120331-8348-79483-
 

The changes will see prizemoney increased by more than $24 million annually and will take effect from September 1.

“We are delighted to be able to deliver these significant increases in prizemoney across all three sectors coinciding with the start of the spring,” Racing NSW Chairman Mr Russell Balding AO said.

 

From September minimum prizemoney for Saturday metropolitan races will increase by $25,000 to $125,000 per race.

The majority of the increase in prizemoney will be on horses finishing fourth to tenth in races bolstering returns to connections of the horses not finishing in the top three.

In order to improve the cash flow for trainers, in a first for NSW racing, part of the increased prizemoney paid for horses finishing in these positions will be paid by Racing NSW directly to the trainer, with these amounts to be credited as a prepayment to the owner’s accounts. This will provide a $13.1 million improvement to trainers’ cash flows.

In addition, trainers themselves will receive an additional $2.4 million a year in trainer’s commissions.

With the prizemoney paid down to tenth position, jockeys will also collectively receive a widespread increase in their prizemoney percentages of $1.2 million annually.

Also included is the increase in prizemoney to two of The Championship races namely the Percy Sykes Stakes and the Arrowfield 3 Year Old Sprint which have an additional $400,000 added to take them to $1 million per race. This means that the 10 Championship races now carry a minimum of $1 million per race.

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The Kosciuszko – The world’s richest country race

The world’s richest country race will now be held on Everest Day at Royal Randwick with a new $1.3 million race – The Kosciuszko.

 

The race will be restricted to only NSW country trained horses who will get a chance to compete on the biggest day of racing in Australia with more than $16 million of prizemoney on offer.

 

Racing NSW announced the new race on Wednesday morning.

Through a joint venture promotion with the Australian Hotels Association (‘AHA’), Tabcorp (‘TAB’) and Racing NSW, members of the public will be able to buy $5.00 tickets to win a chance to own a part share in a horse for The Kosciuszko race.

Tickets in the Kosciuszko promotion will be exclusively sold at all NSW AHA hotels that feature a TAB outlet. Tickets can be purchased at the TAB Electronic Betting Terminals in the same way as a normal TAB ticket.

Also, selected hotels will have dedicated Eftpos terminals that will exclusively sell the Kosciuszko tickets.

There will be 12 winning tickets drawn. Each winning ticket holder will then have an entry in The Kosciuszko and can select a NSW country trained horse to race in their entry, subject to agreeing with the horse’s owners as to how they will share the prizemoney for the race.

Racing NSW can assist the winning ticket holders in identifying horses for selection.

Tickets in the Kosciuszko promotion go on sale on Thursday 19 July 2018 and the draw will be held on 14 September 2018.

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Can't see why we don't want to copy this idea of members of the public buying a 5 dollar ticket and then nominating a horse to run in a new million dollar race in nz. Bet it would be really popular.

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Have a look at these breakdown numbers......will make a few weep....

https://www.racenet.com.au/news/nsw-prizemoney-increases--spreading-the-love-20180718

Below is how the new prizemoney increases will be split for Saturday metropolitan races.

Finish Position

Existing Prizemoney

Prizemoney From 1 September 2018

Total Increase

Benefit to owners

Paid to Trainers Accounts as Pre-payment of  owners Account

Additional 10% 
Trainers Prizemoney 
Percentage

Total Additional Cash Flow to Trainers

Additional 5%
Jockeys Percentage

Additional 1.5% 
Strappers Percentage

1

$53,375

$58,000

$4,625

$3,862

$0

$463

$463

$231

$69

2

$18,800

$23,000

$4,200

$3,507

$0

$420

$420

$210

$63

3

$8,900

$12,000

$3,100

$2,589

$0

$310

$310

$155

$47

4

$4,450

$6,500

$2,050

$1,712

$1,000

$205

$1,205

$103

$31

5

$2,475

$5,000

$2,525

$2,108

$1,000

$253

$1,253

$126

$38

6

$2,000

$4,000

$2,000

$1,670

$1,000

$200

$1,200

$100

$30

7

$2,000

$3,500

$1,500

$1,253

$1,000

$150

$1,150

$75

$23

8

$2,000

$3,500

$1,500

$1,253

$1,000

$150

$1,150

$75

$23

9

$2,000

$3,500

$1,500

$1,253

$1,000

$150

$1,150

$75

$23

10

$2,000

$3,500

$1,500

$1,253

$1,000

$150

$1,150

$75

$23

* Welf.2%

$2,000

$2,500

$500

-

-

-

-

-

-

Total

$100,000

$125,000

$25,000

$20,458

$7,000

$2,450

$9,450

$1,225

$368

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Probably take only 10 years till NZ TB Racing is all over as a viable proposition.Still be a great breeding location to prepare stock for Oz and the asian market.

Critical mass,a succession of hopeless gravy training administrators ,=take it to the bank...don't expect anything like fair odds from NZ 'bookmakers',they have to wait for the Oz market to open and then shorten up a few points..and they will take a $500 bet ..if you're ..lucky.

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1 hour ago, flockofewes2 said:

Probably take only 10 years till NZ TB Racing is all over as a viable proposition.Still be a great breeding location to prepare stock for Oz and the asian market.

Critical mass,a succession of hopeless gravy training administrators ,=take it to the bank...don't expect anything like fair odds from NZ 'bookmakers',they have to wait for the Oz market to open and then shorten up a few points..and they will take a $500 bet ..if you're ..lucky.

No they won't. Not on American racing certainly.

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3 hours ago, La Zip said:

If JM's recommendations cannot be implemented then Puha, you may have to let it fold, and then let industry participants rebuild it for the punter and industry participants 

Let’s see what he comes up with first. Why are you advocating his recommendations before they are released? 

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Because he is a very wealthy man, he didn't get that wealth through being stupid, he's an A List business luminary, his breeding business one of the highest producers, his ownership credentials, impeccable. I've never met the man, but I thoroughly respect what he and V'Landy's have achieved for NSW racing. His ability to identify trouble spots, and the remedies required to right the wrongs is transparent Puha.

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