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NZTR increases stakes

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NZTR Board’s growth plan launches with stakes increases and infrastructure boost

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NZTR
7 June 2022

The NZTR Board has committed to an exciting and innovative growth plan revealing a raft of initiatives today.

Heading the announcement is a more than $7 million stakes increase which will see a strategic injection of stakes across 20 of New Zealand’s best performing racedays.   This targets significant Group and Listed races across Iconic and Premier meetings.

NZTR Chairman Cameron George said the Board’s aim is to provide opportunities to increase revenue, delivering bigger racing events on our best performing days. 

“These are our high-profile events which attract crowds and significant wagering interest,” he said.

“By packaging these 20 best-performing events as New Zealand Thoroughbred Racing’s not-to-be-missed occasions which feature our best athletes – horse and human – we see an opportunity to grow and capitalise on that interest.”

“Our Black type racing is critical to all sectors of the New Zealand industry, providing aspirational opportunities and we see these events as having the best cut-through to accelerate revenue growth.  Not only in wagering, but by establishing them in the public eye as important events that underpin our sport in much the same way that other sports globally celebrate their majors,” George said.

Minimum stakes will rise to $14,000 across the calendar, double what they were five years earlier.

“The Board’s view is to slowly increase the minimum racing stakes over the next few seasons. Our intention is to also turn our focus to the middle-range stakes within the next year, or earlier, depending upon performance,” George said.

Stake increases by the numbers

  • Minimums $14,000 across the entire racing calendar
  • A strategic injection of stakes across 20 of our best performing racedays
  • Group 1 – minimums increase from $220,000 to $300,000
  • Group 2 – minimums increase from $110,000 to $140,000*
  • Group 3 – minimums increase from $80,000 to $100,000*
  • Listed – minimums increase from $60,000 to $80,000*
  • Iconic meetings – minimums increase from $50,000 to $70,000
  • Premier meetings – minimums increase from $40,000 to $50,000
  • Targeted South Island increases of $400K in August, February, and March (Canterbury Grand National, Dunedin Gold Cup, Invercargill Gold Cup and Otago Southern Mile)

*At Top 20 meetings. Group 1 races not held at Iconic or Premier meetings will be increased from $220,000 to $300,000.  Group 2 races not held at Iconic or Premier meetings will be increased to $120,000. Group Three and Listed races not held at Iconic or Premier meetings will remain at current minimums.

Infrastructure fund

The Board has also committed $10,000,000 towards an infrastructure fund to allow for an initial five-year programme of necessary work to be undertaken at venues across the country.

“This is an aspect of our industry which needs attention, investment, but also accountability,” George said. “The Board agrees that we will invest in this area, however we will also expect a professional response from the Clubs with regard to their track preparation and the recognition that providing a suitable track is a prerequisite when it comes to date allocation,” he said.

George acknowledged that while this initial investment will require some careful planning around how and when the work is conducted, the Board is committed to providing investment now to benefit the industry’s long-term future.

“The Board further commits to a floor of $4 million that at all times will be available specifically intended for the purpose of infrastructure,” he said.

Sustainable fund injections

The last two years have allowed NZTR to build a fund to protect our industry from a potential COVID shutdown and the impacts that might bring.  The NZTR Board believes that some of this risk has subsided and is looking to spread these funds across the industry over the next five years.

“This distribution will be conducted in a sustainable and sensible manner and, as with all of the increases, will remain subject to TAB NZ and NZTR wagering performance,” George said.

“The spread will be across stakes, infrastructure, and professional development for industry participants through their respective Associations.”

This funding will be in addition to NZTR’s BAU budget.

Licence renewal rebate

The licence renewal fees for the 2022-23 racing season will be funded by NZTR.  Those who have already renewed their licences will receive a credit for the next season.

“When considering how tirelessly our participants worked during the past two years to keep our industry afloat during a global pandemic, the Board was determined to reward that dedication,” George said.

“I’m not sure whether anyone experienced a good day during this difficult period, so the Board agreed it was only fitting that we waive your fees for the next season” he said.

Innovation Fund

The Board has also decided that an Innovation Fund of $500,000 to all clubs, outside of those that will be conducting the 20 best performing race dates, will be made available again.

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The bottom gets the least again..look at the difference between here and Australia..they value the grass roots people in the industry not just the ones luckily enough to have a top horse.14k is a joke...JMO...how many will win 3 or 4 races next year...and thats what you will need to just break even at industry days.....thats a joke.But I guess in OZ it could be similar for the lesser class horses.

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Interesting timing……nothing to do with this then…..🤔

Racing Victoria has announced significant upgrades to its prize money and changes to its program for the next racing season.

Here is a quick snapshot at the major changes you will see heading into 2022/23.

 

2022 Melbourne Cup Carnival

• The final day of the Melbourne Cup Carnival will now be known as VRC Champions Stakes Day (Saturday, 5 November) and prizemoney for the raceday has been increased to $10 million;

• The Cantala Stakes will be moved from Derby Day to VRC Champions Stakes and will be renamed the Champions Mile;

• Prizemoney for the Group Champions Mile (1600m) has been boosted from $2 million to $3 million with the race to now be run under weight-for-age conditions;

• Prizemoney for the Group 1 Champions Sprint (1200m) and the Group 1 VRC Champions Stakes (2000m), registered as the Mackinnon Stakes, have also been increased to $3 million (up from $2 million); 

• Prizemoney for the stallion-making Group 1 Coolmore Stud Stakes (1200m, 3YO) will increase by $500,000 to $2 million.

 

Feature Spring Racing Carnival Increases

• Group 1 Caulfield Guineas – $3 million (up $1 million)

• Group 1 Manikato Stakes – $2 million (up $1 million)

• Group 2 Drummond Golf Vase – $500,000 (up $200,000)

• Group 3 Geelong Cup - $500,000 (up $100,000)

• Group 3 Bendigo Cup– $500,000 (up $100,000)

• Listed Kilmore Cup - $200,000 (up $40,000)

 

2023 Festival of Racing

• The Group 1 Australian Cup has been pushed back two weeks and will be held on the last weekend in March. Prize money has doubled to $3 million;

• The Australian Cup will be run one week after The All-Star Mile in 2023, before extending to a two-week gap from 2024;

• Flemington will host three Group 1 racedays in March 2023 with the Australian Guineas (1600m) and the Yulong Stud Newmarket Handicap (1200m) to be held on the first and second Saturdays of March respectively.

 

2023 Autumn Features

•The 2023 Mornington Cup meeting will be run as a standalone Saturday meeting on April 22;

• As part of its rotation throughout country Victoria, the Good Friday race meeting, headlined by the $500,000 The Country Discovery (1100m), will be held on the Bellarine Peninsula at Geelong on April 7;

 

Minimum Prizemoney Increases

Country Meetings

Over $7 million will be invested to increase minimum prizemoney levels at Victorian TAB country meetings from 1 August 2022 as follows:

• Standard races will increase from $25,000 to $27,000;

• Premium races will increase from $35,000 to $37,500; 

• Premium races for BM70 and above will increase from $35,000 to $40,000; and

• Night races will increase from $35,000 to $40,000.

Metropolitan Meetings

Over $4 million will be invested to increase minimum prizemoney levels at Victorian metropolitan meetings from 1 August 2022 as follows:

• Saturday 2YO, 3YO, BM90, BM100 and Open Handicap races will increase from $130,000 to $150,000;

• Saturday Pathway races (ninth race) will increase from $75,000 to $80,000; and

• Midweek races will increase from $50,000 to $55,000.

Group & Listed Races

With the increase in minimum prizemoney for the vast majority of Saturday metropolitan races, minimum prizemoney for all Listed Races will increase from $160,000 to $175,000.

This follows an increase in minimum prizemoney for all Group races this season to $750,000 (Group 1), $300,000 (Group 2) and $200,000 (Group 3), whilst Listed races rose from $140,000.

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2 hours ago, Nerula said:

You need to own a Saturday horse. That has always been so. There is no great reward from a slow one. I call the game, "Chasing Rainbows"

Yes but slow ones keep people interested to someday get lucky with a good one...but if not possibility of breaking even very hard to get people interested.

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I’d forgotten that Cameron George was chair of NZTR. 
On TV1 News tonight I saw him trying to explain away another Warriors Coach that has fallen by the wayside. (Moving on)
Then at the end, there was a typical CG quip, denigrating the outgoing coach. 
Hopefully Shane Jones can work a miracle, but with their management, I seriously doubt it. 

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25 minutes ago, Insider said:

I’d forgotten that Cameron George was chair of NZTR. 
On TV1 News tonight I saw him trying to explain away another Warriors Coach that has fallen by the wayside. (Moving on)
Then at the end, there was a typical CG quip, denigrating the outgoing coach. 
Hopefully Shane Jones can work a miracle, but with their management, I seriously doubt it. 

Poor old Shane Jones…..yesterdays man along with his mate Winston.

Couldn’t find his arse with both hands and a map…….🙄

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I wanted to see $12,000 races stay at $12,000!!!

BUT, for all $12,000 races all base riders fees to be paid by NZTR, together with a $200 starter's allowance for every starter.  That way, it does not cost so much to find out that your horse is no good.  And you will be encouraged to go and buy another one.

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1 hour ago, scooby3051 said:

Yes but slow ones keep people interested to someday get lucky with a good one...but if not possibility of breaking even very hard to get people interested.

I have always subscribed to that theory myself, but I think these days we are in a bit of a minority.

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5 hours ago, Ohokaman said:

Interesting timing……nothing to do with this then…..🤔

Racing Victoria has announced significant upgrades to its prize money and changes to its program for the next racing season.

Here is a quick snapshot at the major changes you will see heading into 2022/23.

 

2022 Melbourne Cup Carnival

• The final day of the Melbourne Cup Carnival will now be known as VRC Champions Stakes Day (Saturday, 5 November) and prizemoney for the raceday has been increased to $10 million;

• The Cantala Stakes will be moved from Derby Day to VRC Champions Stakes and will be renamed the Champions Mile;

• Prizemoney for the Group Champions Mile (1600m) has been boosted from $2 million to $3 million with the race to now be run under weight-for-age conditions;

• Prizemoney for the Group 1 Champions Sprint (1200m) and the Group 1 VRC Champions Stakes (2000m), registered as the Mackinnon Stakes, have also been increased to $3 million (up from $2 million); 

• Prizemoney for the stallion-making Group 1 Coolmore Stud Stakes (1200m, 3YO) will increase by $500,000 to $2 million.

 

Feature Spring Racing Carnival Increases

• Group 1 Caulfield Guineas – $3 million (up $1 million)

• Group 1 Manikato Stakes – $2 million (up $1 million)

• Group 2 Drummond Golf Vase – $500,000 (up $200,000)

• Group 3 Geelong Cup - $500,000 (up $100,000)

• Group 3 Bendigo Cup– $500,000 (up $100,000)

• Listed Kilmore Cup - $200,000 (up $40,000)

 

2023 Festival of Racing

• The Group 1 Australian Cup has been pushed back two weeks and will be held on the last weekend in March. Prize money has doubled to $3 million;

• The Australian Cup will be run one week after The All-Star Mile in 2023, before extending to a two-week gap from 2024;

• Flemington will host three Group 1 racedays in March 2023 with the Australian Guineas (1600m) and the Yulong Stud Newmarket Handicap (1200m) to be held on the first and second Saturdays of March respectively.

 

2023 Autumn Features

•The 2023 Mornington Cup meeting will be run as a standalone Saturday meeting on April 22;

• As part of its rotation throughout country Victoria, the Good Friday race meeting, headlined by the $500,000 The Country Discovery (1100m), will be held on the Bellarine Peninsula at Geelong on April 7;

 

Minimum Prizemoney Increases

Country Meetings

Over $7 million will be invested to increase minimum prizemoney levels at Victorian TAB country meetings from 1 August 2022 as follows:

• Standard races will increase from $25,000 to $27,000;

• Premium races will increase from $35,000 to $37,500; 

• Premium races for BM70 and above will increase from $35,000 to $40,000; and

• Night races will increase from $35,000 to $40,000.

Metropolitan Meetings

Over $4 million will be invested to increase minimum prizemoney levels at Victorian metropolitan meetings from 1 August 2022 as follows:

• Saturday 2YO, 3YO, BM90, BM100 and Open Handicap races will increase from $130,000 to $150,000;

• Saturday Pathway races (ninth race) will increase from $75,000 to $80,000; and

• Midweek races will increase from $50,000 to $55,000.

Group & Listed Races

With the increase in minimum prizemoney for the vast majority of Saturday metropolitan races, minimum prizemoney for all Listed Races will increase from $160,000 to $175,000.

This follows an increase in minimum prizemoney for all Group races this season to $750,000 (Group 1), $300,000 (Group 2) and $200,000 (Group 3), whilst Listed races rose from $140,000.

If NZ followed the Aussie model we would have the Wgtn Racing Club announcing  a $3m Cup, $2m Oaks and $3m Telegraph to compete with Auckland.

I never thought I would feel nostalgic for the days of stakes races between clubs in NZ. Probably the last time we saw anything like that was when Winston made the Derby $2.2m to compete with the $2m Kelt.

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5 hours ago, Nerula said:

You need to own a Saturday horse. That has always been so. There is no great reward from a slow one. I call the game, "Chasing Rainbows"

It seems to me they are trying to keep the slow ones racing here? If they are not quick enough to go and race for decent stakes in Oz, they can now stay here and race in 300k races?

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2 hours ago, Phar Lap Fan said:

"exciting and innovative" - might cause a little thrill but has been done before so hardly innovative, as many people have been asking for this for years. The industry needs to attract more customers to progress further. Free Trackside TV might help.

Free Trackside, it kind of makes me think there must be something completely mystifying how once upon a time the TAB use to be open 6 days a week and there was only 1 meeting many days, no sports betting, no aussie races, no smartphones, apps etc etc fuck all radio, no tv, unless it was on 1 on trotting cup or Melbourne cup day yet eveything seemed to be doing a whole lot better, just a observation.

Trackside is good as such but the wall to wall barrage of crap on it is more a turn off than a turn on.

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14 hours ago, We're Doomed said:

If NZ followed the Aussie model we would have the Wgtn Racing Club announcing  a $3m Cup, $2m Oaks and $3m Telegraph to compete with Auckland.

 

Have I missed a news release?

Where can I find the fantastic new stakes for the Auckland Group 1’s

😂

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4 hours ago, Phar Lap Fan said:

"exciting and innovative" - might cause a little thrill but has been done before so hardly innovative, as many people have been asking for this for years. The industry needs to attract more customers to progress further. Free Trackside TV might help.

And yet they continue to close the rural tracks  taking the  sport away from them. No new customer is going to get the 'bug' by watching races on TV let alone on there phone or computer.  Those that go to the party days like Welly,nz,auckland cup days barely watch a race that day let alone head to the TAB the following  Saturday for a bet. 

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59 minutes ago, Aaron Bidlake said:

And yet they continue to close the rural tracks  taking the  sport away from them. No new customer is going to get the 'bug' by watching races on TV let alone on there phone or computer.  Those that go to the party days like Welly,nz,auckland cup days barely watch a race that day let alone head to the TAB the following  Saturday for a bet. 

Another issue is the the countryside understands the love for the horse, the once a year race goers see a horse break down and only see the cruel side.

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