Racing NSW has announced prizemoney increases for the upcoming racing season totalling over $6 million.

Racing NSW CEO Peter V’landys said the increase is in line with the Racing NSW Strategic Plan released in 2004.

“It is important at this time that certainty is provided to participants and I’m confirming that existing prizemoney levels and the number of race dates for 2010/11 are being maintained and in some areas, increased,” V’landys said.

V’landys went on to say, the monies released to the clubs is not part of the $90 million plus being held by Racing NSW from corporate bookmakers contributions held up by ongoing litigation.

“Its race fields money we’re permitted to release, not the corporates money," he said. “No monies from corporate bookmakers are being released.”

Twelve months ago the Australian Jockey Club cut feature race prizemoney by almost $4 million for the 2009/10 racing season but the announcement on Tuesday should all but restore prizemoney figures to the level of the 2008/09 season.

“The AJC is delighted with today’s news from Racing NSW and the Board will meet on Friday to consider prizemoney upgrades exceeding $3.6 million to further strengthen Sydney’s spring and autumn carnivals,” AJC CEO Darren Pearce said.

There will be no change to prizemoney at the provincial level with V’landys saying the money given to the clubs is to be used to ensure their survival.

"The provincial prizemoney stays where it is," he said. “The clubs have incurred significant rises in costs, so the money we’re giving them will maintain the $16,000 per race.”

Country TAB meetings will see an increase from $9,000 to $10,000 per race from September 1.

“This increase in TAB prizemoney further underpins the strength of country racing as the grass roots of racing in NSW,” Chairman of Racing NSW Country, Gordon Lindley said.

A particular focus of the Strategic Plan released by Racing NSW in 2004 was to increase returns to participants.

In accordance with that goal, returns to participants on provincial and country racing have grown from $44.1m prior to the implementation of that Strategic Plan, to an estimated $73m in 2010/11.

Metropolitan racing returns to participants have also increased from $66m to $77.2m in that same period.

“Increased returns to owners are vital to ensuring the attractiveness of investing in thoroughbred racing and the overall health of the sport,” V’landys said.

“We have established a strong and consistent track record of increasing both prizemoney and other returns to owners.”

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