NSW racing lands $24m prize boost
RACING NSW has plucked another $24 million from its war chest in prizemoney boosts that now include the world’s richest race for country horses.
The $24 million windfall comes after the NSW Government yesterday guaranteed the three racing codes $40 million from point of consumption tax revenues, $25 million of which is believed to be allocated to thoroughbreds.
The Queensland Government is set to introduce a POC tax in October, but to date there has been no commitments made to the racing industry.
The Kosciuszko is a new race for country-trained horses and will be worth $1.3 million to be run on the same Randwick card as The Everest, with punters encouraged to buy a $5 ticket through Tabcorp to go into the draw to win a “slot” in the Kosciuszko.
The winning slot holder can then negotiate with country stables to secure a horse to run for them in the 1200m race.
Other initiatives announced yesterday included base metropolitan prizemoney increasing to $125,000, midweeks to $50,000, provincial races to $35,000 and country TAB races to $22,000.
Saturday metro races will also pay a minimum of $3500 down to the 10th-placed horse.
Chris Munce, president of the Queensland Branch of the Australian Trainers Association, said the consistent wins enjoyed by participants in NSW was widening the divide between the two states.
“We have been used as a political football for so long in Queensland,” he said. “There can be no more procrastination.”
Gold Coast trainer Bryan Guy said the NSW announcement showed what could be achieved by stability, good management and government backing, with Queensland in danger of drifting “off into the sunset”.