Racing NSW announces more prize money increases

Racing NSW today announced increases to minimum prizemoney levels for Metropolitan and Provincial racing worth more than $6.5 million annually.

Metropolitan and Provincial minimum prizemoney levels have received the lowest proportional increases since 2004, with the Country sector minimum prizemoney levels having increased by a much higher proportional amount in addition to Country specific initiatives such as The Kosciuszko, Country Championships, Showcase race meetings, Highway races and Country restricted boosted races.

Taking effect from 1 August 2023, the prizemoney increases are as follows:

• Metropolitan Saturday minimum prizemoney will be increased to $160,000 per race, rising from $150,000.

• The minimum prizemoney for Metropolitan public holiday race meetings will be increased by $5,000 per race to $65,000 and will carry a feature race of $150,000 in prizemoney.

• The minimum prizemoney for Metropolitan midweek races will be increased by $5,000 per race to $60,000.

• Minimum prizemoney for Provincial races will also increase to $42,000 per race from $40,000 per race from 1 August 2023 adding almost $2 million annually to Provincial prizemoney.

Racing NSW Chairman Mr Russell Balding AO said: “It’s imperative that Metropolitan racing is strong and that benefits generated from these meetings flow on to all sectors of the industry. Minimum prizemoney increases underpin Metropolitan racing and NSW’s place as a world class racing location.

“$150,000 races headlining public holiday fixtures will also invigorate these race meetings,” Mr Balding added.