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Victoria turnover surpasses $6 billion for the 2016/17
16 Jun 2017 | Racing Victoria 
Punter interest in Victorian thoroughbred racing has reached an all-time high with turnover surpassing a record $6 billion for the 2016-17 financial year (FY17).

It’s the first time the milestone has been reached in Australian racing and underlines the huge interest in Victorian thoroughbred racing from punters across the globe.

The milestone was achieved on the eighth race at Flemington last Saturday, 10 June 2017, with three weeks still to run in FY17.

Total turnover on Victorian thoroughbred racing has grown by 24% over the past three years underpinned by a new media rights model, enhanced race programming and continued investments in integrity, welfare and tracks.

The new media rights model has seen Victorian racing launch Australian sport’s only dedicated free-to-air television channel, Racing.com, and enter into partnerships with seven wagering operators to broadcast Victorian racing anywhere, anytime.

Racing Victoria (RV) Chief Executive, Giles Thompson, said the result reflected punter confidence in Victorian racing and provided opportunities to grow investments in the sport.

“We’re delighted to reach this milestone which is an important indicator of the health of Victorian racing and the faith that punters have placed in the quality and integrity of our sport,” Mr Thompson said.

“Through the combined efforts of all stakeholders in FY17, the industry has delivered high quality racing on well prepared tracks that punters can view anywhere, anytime which has helped drive this increased investment.

“Strong wagering performances have allowed us to announce $40 million worth of increases in prizemoney and bonuses since May 2015 with owners and participants set to compete for a record $214 million in Victoria in the 2017-18 racing season.

“It has also allowed us to continue our significant investments in integrity, equine welfare, infrastructure, tracks and media to promote on-going growth in the sport and to support the 20,000 equivalent full-time employees in Victorian racing.”

Of the record $6 billion wagered to date in FY17, 53% has been on metropolitan racing and 47% on country racing with average turnover per Victorian race meeting climbing to $11.4 million – an increase of 25.7% over the past three years.
 
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