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RQ to increase metropolitan prize money

14 March 2022

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The Queensland thoroughbred code is set to enjoy a stakes raise from next month with minimum Saturday metropolitan prize money to increase to $75,000 per race.

At present, Saturday metropolitan meetings largely feature a combination of $75,000 and $55,000 races, with Racing Queensland also poised to schedule additional $125,000 races on selected non-carnival days.

Listed races will be run for a minimum of $130,000 and Group 1s will be a staged for a minimum of $700,000.

The prize money increases will be funded through the organisation’s Race Field Fees and will commence on Saturday, April 9.

Since 2017, prize money across the three codes of racing in Queensland has increased by $77.3 million, with more than $210 million forecast for distribution in 2021/22.

The Saturday metropolitan prize money increases follows the implementation of RQ’s Investment Growth Plan from the start of 2022, which delivered significant increases for grass roots racing.

Racing Queensland Executive General Manager Operations Adam Wallish said the organisation was determined to return as much payments to participants as possible.

“As part of our Investment Growth Plan that rolled out on January 1, provincial, regional and country racing were well supported through prize money increases,” Mr Wallish said.

“It’s important that metropolitan racing is also increased to ensure Queensland remains competitive with its larger racing jurisdictions.

“RQ continues to develop funding strategies to deliver prize money increases for all three codes, having increased levels by 58% since 2017.

“Over the past five years, thoroughbred racing, in particular, has grown from $106.6 million to $155.9 million in FY22.”

RQ’s Investment Growth Plan will deliver $15.3 million in prize money increases over the next 12 months.