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  • NZ Stakes Receive Major Prizemoney Boost

    Tuesday, 6th July 2021

    New Zealand Thoroughbred Racing (NZTR) has announced there will be a 20 percent boost to stakes between August 28, 2021, and April 2, 2022. The boost in funding includes stakes lifts across the board, including increases in minimum prizemoney levels for Industry and feature days. According to loveracing.nz, the prizemoney increases, which are designed to be sustainable and reward participants at all levels, are achievable following a strong wagering performance and changes to the TAB NZ operating model.  We are operating in a different environment to what we did under the old Racing Act,” NZTR Chairman Cameron George said. “The Board’s decision regarding stake increases is aligned with the TAB NZ funding cycle and is strategically focused to enhance returns, with all stakeholders benefiting. The NZTR Board has created a rolling funding policy across periods of time, as opposed to a full racing season. This enables the Board to produce increased funding to the industry off the back of good performance. Basically, if the industry, including TAB NZ, performs then the industry benefits.” George explained, “The rolling model allows us to manage and mitigate financial risks and, most importantly, target times of the racing year when we receive the greatest response, both in participation and revenue. A blanket approach does not create growth and better returns, so we need to be creative.” In addition to stake increases, NZTR’s commitment to free nominations and acceptances, which provides savings of $1.7 million to owners, remains in place.

    New Zealand racing

    New Zealand stakes purses will be boosted (pic: Trish Dunell)