Financial injection for Queensland racing

Saturday 2 August 2014, 12:56pm

Queensland's racing industry will receive an across-the-board boost from a multi-million dollar injection of funds into an improved bonus scheme announced on Saturday.

Racing Queensland officials used the annual breeders general meeting at Eagle Farm to detail the workings of the new-look Queensland Thoroughbred Investment Scheme (QTIS).

The Queensland breeding industry has been flat in recent years with yearling sales reporting static interest.

RQ chief executive Darren Condon said all arms of the Queensland racing industry should benefit from the new scheme which, when fully operational, will inject as much as $4 million a year on top of the $8 million already allocated under QTIS.

"It is a wonderful thing for the industry and should help Queensland racing to regain its position among the leaders in the sport," Condon said.

"The breeding industry here is very important and this new scheme can only help it. But as a spin-off it should also help everyone from owners to jockeys."

QTIS bonus payments are made to winners and placegetters in races who have been paid up for the scheme from Queensland yearling sales.

In a major change. all two and three-year-old races in Queensland will have QTIS bonus payments for registered horses.

All QTIS registered horses will race for free in Queensland, starting with the two-year-old generation of 2015.

A fillies and mares bonus will also be introduced for QTIS horses from August 1 next year and it will increase the standard bonus by 50 per cent.

It will then be ongoing and be applicable to two, three and four-year-olds by 2017.

Breeders will receive six per cent of the QTIS bonus for the winner of all QTIS races in Queensland.

Meanwhile, an additional $150,000 QTIS race at the Gold Coast coinciding with the 2015 March QTIS sale, which will be open to any QTIS horse of any age.

– AAP

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