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$16.5M Boost For VIC Racing

Friday, 5th June 2015

Country racing will be the major beneficiary of a $16.5 million prize-money boost for the Victorian racing industry next season, reports racing.com. Two-thirds of the increase, more than $11 million, will be directed to country racing with maiden racing boosted to a minimum of $20,000 at TAB race meetings and $25,000 for country night racing meetings. Metropolitan racing will see eight of the nine races on a Saturday now increased to a minimum of $90,000, the highest in Australia. There is also a change in the prize-money distribution structure for non-Group and Listed flat races. Victoria will offer $174.2 million in prize-money, not including VOBIS bonuses, next season which represents a 21.3 per cent increase since 2012. Racing Victoria CEO Bernard Saundry said the increase was recognition of Victoria's status as the premier racing state in the country. "Increasing returns to participants was an objective of our Strategic Plan and we have been able to achieve this significant increase by eliminating our debt ahead of forecast, by delivering quality product to promote strong wagering returns and by realising cost efficiencies across the business," Saundry said. "Following extensive consultation with our stakeholder bodies, the allocation of this additional prizemoney has been designed to give all within the industry an opportunity to share in this significant uplift by rewarding more owners, more trainers and more jockeys, whilst further incentivising future participation." Click here for 2015/16 prize-money increase details.

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