Racing NSW prizemoney up again…..

[Ohokaman 5,851]

Racing NSW reveal $6.5m metro and provincial prizemoney uplift

Racing NSW have injected an extra $6.5m across metro and provincial races in the state. Picture: Mark Evans – Getty Images

 

 

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Prizemoney for New South Wales thoroughbred racing will soar to even greater heights with Racing NSW announcing a $6.5m annual increase to minimum stake levels for Metropolitan and Provincial events.

The central focus of the stakes surge is on Metropolitan and Provincial minimum prizemoney levels which have received the lowest proportional increases since 2004. 

In that time, the Country sector's minimum prizemoney levels having increased by a much higher proportional amount in addition to Country specific initiatives such as The Kosciuszko, Country Championships, Showcase race meetings, Highway races and Country restricted boosted races. 

Beginning August 1, 2023, the prizemoney injection will see NSW's standing as market leader in prizemoney returns to participants only strengthen.

In announcing the prizemoney boost, Racing NSW Chairman Mr Russell Balding AO said: "It's imperative that Metropolitan racing is strong and that benefits generated from these meetings flow on to all sectors of the industry. 

"Minimum prizemoney increases underpin Metropolitan racing and NSW's place as a world class racing location. 

"$150,000 races headlining public holiday fixtures will also invigorate these race meetings," Mr Balding added.

The news comes on the back of last week's announcement that The Big Dance, staged at Randwick on Melbourne Cup day, would increase in prizemoney to an eye-watering $3m, an increase of $1m. 

 

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* Metropolitan Saturday minimum prizemoney will be increased to $160,000 per race, rising from $150,000. 

* The minimum prizemoney for Metropolitan public holiday race meetings will be increased by $5,000 per race to $65,000 and will carry a feature race of $150,000 in prizemoney. 

* The minimum prizemoney for Metropolitan midweek races will be increased by $5,000 per race to $60,000. 

* Minimum prizemoney for Provincial races will also increase to $42,000 per race from $40,000 per race from 1 August 2023 adding almost $2 million annually to Provincial prizemoney.

 

 

 

 

[soon 22]

So how many now want to race across  the tasman? I certainly  do

[nomates 3,609]

And yet 10 weeks out from the start of our next season and we still have no indication of what we will be racing for , absolute amateur hour again . I'm sure they said that they would clarify the situation by the end of April , that's been and gone . 

Who likes kumara .

[Demophon 29]

Next season $10k stakes for industry days? My unfortunate opinion based on the earlier published TAB redults.

 

 

 10k

[Pam Robson 1,551]

Contrary to the NSW situation  [ is it sustainable? ]  I note that there is a drop in funding inherent in Victoria.   Measures have been put in place to ameliorate that, as much as possible. But assurances were made that bottom-tier races would not be affected.

Here?  of course, the practice is to chop the wee people off at the knees.  Who needs them?

[Leggy 4,096]

1 hour ago, Demophon said:

Next season $10k stakes for industry days? My unfortunate opinion based on the earlier published TAB redults.

 

 

 10k

And it's the unpublished ones that worry me more. The last published trading performance update was on March 3 for January. No sign of the next 2.

[soon 22]

2 hours ago, Pam Robson said:

Contrary to the NSW situation  [ is it sustainable? ]  I note that there is a drop in funding inherent in Victoria.   Measures have been put in place to ameliorate that, as much as possible. But assurances were made that bottom-tier races would not be affected.

Here?  of course, the practice is to chop the wee people off at the knees.  Who needs them?

 If they play it out for the next 2 years, sustainable  or not,   if they get enough interest, the sustainability  could come into play.

[Hi Ho Silver 785]

Pam and Leggy, you are absolutely right.  NSW assured the money for bottom races would not be cut because that is where the bulk of participation is, thus the foundation of the industry surely.  In contrast New Zealand has this almost infatuation with trying to keep up with the Jones's as far as our big races are concerned.  The Patterns Committee have shown us by taking away Group and Listed status from many of our prestige races that our top races are substandard.  Why can't we be a jurisdiction that just does what we do do well?  If we look after the foundation of the industry in terms of people, horses, races and infrastructure the rest will follow.

As Soon points out sustainability may or may not come with the NSW plan but, you've got to love the fact that, unlike their Kiwi counterparts, they have not overreacted into a place of despair and are giving it a go.  It may be a gamble but, isn't that the industry we are in?