Record prize money of more than STG130 million ($A237.29 million) is forecast to be on offer for British racing this year.

The figure, announced by the British Horseracing Authority, is STG7 million more than the then record 2014 total.

"It is pleasing that 2015 will see record levels of prize money being distributed, off the back of what was a previously unmatched figure in 2014," BHA chief executive Paul Bittar said:.

"Increases in prize money help stimulate ownership and investment, bringing benefits to all participants and as such it is crucial to the health and wellbeing of the sport.

"An important contributory factor to the totals in 2014 and 2015 are the Prize Money Agreements with the Horsemen's Group and BHA that have been signed by the vast majority of racecourses.

"However, despite progress in recent years there are still challenges to be faced and the levels of prize money in Britain do not reflect a level that British racing's international standing warrants."

Of the STG130 million, about STG4 million is formed by the Additional Voluntary Contribution made by bookmakers William Hill, Ladbrokes, Coral and Betfred.