Breeding & Racing Magazine

Major Cuts In Italian Prize-Money

In Italy, prize-money "could be cut by as much as 38% in the final 3 months of this year with only Group races surviving unchanged," reported racingpost.co.uk. Listed events will drop from €61,600 (A$105,000) to €44,000 (A$75,000); the standard value of such races was €69,300 (A$118,000) 2 seasons ago. Although prize-money will stay at current levels until the end of next month, "other changes start on Sunday when 1 race will be dropped from all programmes". Betting turnover (which funds prizes) "has been falling for some years: it dropped by 5% from 2007's disappointing figures to the end of July, while it is down 9.88% in the 1st half of this month".