Racing Queensland has confirmed a $1.5 million prize money increase for the greyhound code will commence next week.
For the second time in 2018/19, the code has benefited from a prize money increase with the Queensland Government and RQ agreeing to co-fund a $3.5 million uplift in November.
In total, $5 million in additional prize money has been released to progress industry viability concerns, boost grassroots participation and improve cash flow for participants and owners.
“As an industry, we were committed to delivering reform measures and enhancing our viability, long-term sustainability and competitiveness with other racing jurisdictions,” RQ Chairman Steve Wilson said.
“Over the past six months, significant progress has been achieved, and while more work still needs to take place, I look forward to further progress as we deliver on our strategic and commercial priorities.”
As part of the funding package, $400,000 will be allocated to appearance fees, which has risen from $25 at the beginning of last year to $60 moving forward.
A further $500,000 will be allocated to standard prize money that incentivises 500m racing and longer. Increases include:
- Ipswich/Brisbane - 520m events (Class 2/Class 3) increased by $525 per race;
- Bundaberg - 550m events (Class 4) increased by $525 per race;
- Townsville/Rockhampton - 498m/510m/643m events (Class 6) increased by $525 per race; and
- Ipswich/Brisbane - 600m/630m/710m/732m events (Class 2) increased by $1575 per race.
Finally, $600,000 will be allocated to iconic events and carnivals with RQ recently announcing the Group 1 Sky Racing Brisbane Cup would increase from $150,000 to $375,000 this year to make it one of the richest greyhound races in the nation.
The Flying Amy and the Ipswich Cup will also rise to Group 1 level prize money at $110,000 apiece, while a new Summer Carnival race will be implemented at the same level.
Finally, the Bundaberg Cup will rise by $30,000, while a further $135,000 will be spread across various features including raising the minimum prizemoney for a feature event to $3,675.
RQ COO Adam Wallish was up-beat about the prize money up-lift and said he believed it would substantially support further growth in the greyhound code.
“RQ has taken a broad approach with the combined impact of the December 2018 and the most recent prize money increase,” Mr Wallish said.
“We have predominantly targeted standard prize money, but ensuring a portion has been dedicated to stimulating aspirational racing and also rewarding all contestants with solid appearance fees.
“This should see greyhound racing remain strong in terms of field size and quality, both of which are essential to growing the wagering revenue that underpins our industry.”
The prizemoney enhancements will commence from June 17. To see standard prize money breakdowns, click here.
To see a full list of features for the 2019/20 racing calendar including dates and prize money breakdown, click here.