Racing Industry in NSW Receives Nice Lift in Prizemoney

Racing NSW has given a prizemoney boost of $24 million across all sectors. According to their announcement, the interest was to spread the growth to “as many participants as possible.”

This is no far-in-the-distant-future proposition, either. The elevated rates go into effect at the outset of September, 2018.

The Saturday metro prizemoney will increase from a minimum of $100,000 to $125,000. Chris Waller could be envisioned rubbing his hands together in glee, as he is often one of the primary contributors to NSW races in terms of building a field where it is commonplace to see payouts as far down as 10th place.

The metro midweek races got a similar 25 percent boost, rising from $40,000 to $50,000.

Metro public holiday, TAB highways, Provincial and Country TAB races will be worth more, but the final two by more modest percentage amounts.

More practically, Listed races will jump from $125,000 to $140,000 and Group 3 races from $140,000 to $160,000.

The growth in revenues for racing in NSW has been behind the boost.

“Prizemoney in NSW has increased by more than $130 million annually across a seven-year period,” Racing NSW CEO Peter V’landys said. “The success of thoroughbred racing in NSW over this time is due in no small part due to the thousands of hard-working industry participants and the many thousands of owners that continue to subsidise the industry.”

It seems that The Everest is not the only beneficiary, with the intent of Racing NSW to spread the wealth across the board.

To our eyes, the boost in prizemoney is a healthy sign of growth in the industry. Not so long ago, racing seemed to be losing impetus, but in the past several years, the widespread adoption of online betting and the convenience of betting with mobile devices has seen a proliferation of people flocking to the online bookmakers and no longer needing to be physically present at the track or make the trip to a retail outlet.

Hopefully, Racing NSW has not overlooked the poor writers who slave day and night to bring racing fans the latest and most relevant information.

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