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NSW Announce $24M Prize Money Boost
Racing NSW also announced yesterday a broad range of prize money increases totalling $24 million annually that will take effect from 1 September 2018. "We are delighted to be able to deliver these significant increases in prize money across all three sectors coinciding with the start of the spring," said Racing NSW Chairman Mr Russell Balding. From September minimum prize money for Saturday metropolitan races will increase by $25,000 to $125,000 per race, which headlines increases across metropolitan, provincial and country meetings. Minimum prize money for provincial races will increase from $30,000 to $35,000, while country races will see a rise from $20,000 to $22,000. Two feature races of The Championships, namely the Percy Sykes Stakes and the Arrowfield 3YO Sprint, have had their prize money levels boosted by $400,000 taking them to $1 million per race. The majority of the increase in prize money will be for horses finishing fourth to tenth in races, boosting returns to connections of horses not finishing in the top three. In order to improve the cash flow for trainers, in a first for NSW racing, part of the increased prize money paid for horses finishing in these positions will be paid by Racing NSW directly to the trainer. This will provide a $13.1 million improvement to trainers' cash flows. Click here to view full media release.