Melbourne Saturday meetings will feature nine races next season as Racing Victoria chases a larger slice of the punting pie.

RV will schedule an extra race every Saturday from August 1 but will close the average gap between races from 40 to 35 minutes to ensure the meetings are run over a similar timeframe.

The revised scheduling is part of RV's strategic plan, which states Victorian racing must arrest a decline in wagering revenue to remain at its current prizemoney levels.

RV's general manager of racing Greg Carpenter says the programming changes will deliver a $640,000 increase in prize money next season and increased revenue from wagering.

Racing Victoria has scrapped the programming of two $100,000 races every Saturday in favour of the new model after research revealed the premium races did not have the desired effect on betting turnover.

But prize money for Group and Listed races will remain at current levels.

The extra race each week will carry stakes of $40,000 with the minimum Saturday stakes to remain at $80,000 for the other races while the new events will be run at Benchmark 70 standard or higher.

Meetings already featuring nine races, such as premium carnival race days, will not have an extra race added to their programs.

Carpenter said the three metropolitan racing clubs supported RV's initiative which he added would better cater to the needs of punters and participants.

Representatives from broadcasters Sky and TVN had met with RV officials to discuss the plan, which will affect television schedules significantly.

"The addition of a ninth race in Melbourne each Saturday provides further opportunities to enjoy the thrill of a city winner, whilst maximising wagering outcomes which ultimately fund the industry," Carpenter said in a statement.

Some Group One race days will retain breaks of 40 minutes between a selection of races to allow time for showcase events and management of patrons.

Carpenter said RV would announce further changes to the state's racing programs over the coming months.