Racing Victoria welcomes election promise

Racing Victoria (RV) has welcomed the election promise of the current Victorian Stare Government that if it was re -elected in will commit $33 million from 2019 to support increases to the minimum levels of thoroughbred prizemoney. 

RV said in a statement on Wednesday night that it has committed to boosting the package of prizemoney increases to a total in excess of $40 million. The increases would be spread across all levels of the sport with an emphasis on supporting grass roots competition in the Victorian thoroughbred racing industry.

The package, which would be implemented from 1 January 2019, would ensure that the minimum prizemoney for every category of Victorian race would be the equal of anywhere in the nation and includes:

$35,000 minimum prizemoney per race at over 170 country race meetings;
$50,000 minimum prizemoney per race for midweek metropolitan race meetings;
$135,000 minimum prizemoney per race for Saturday metropolitan races for three-year-olds and races over 2000m or further; and
$125,000 minimum prizemoney per race for all other Saturday metropolitan races excluding pathway races.

RV Chairman, Brian Kruger, said: “We welcome this strong commitment from the Andrews Labor Government to strengthen their support of Victorian thoroughbred racing and importantly the 92,000 people that actively participate within our industry.

“A vibrant and successful thoroughbred racing industry is great for Victoria. Enhancing returns to our owners, trainers, jockeys and breeders, particularly at the grass roots, is crucial to that.

“80% of our racing is conducted outside metropolitan Melbourne and this package would see minimum prizemoney increases at all country TAB meetings. This continues the support for grass roots racing with increases already implemented this season for country non-TAB meetings."