The Deputy Premier and Minister for Racing, Hon. Troy Grant MP and Racing NSW Chairman, Mr John Messara called a press conference this morning and announced a $21 million increase in Country and Provincial prizemoney to take effect from July 2016. 

Increases in minimum Country TAB and Provincial prizemoney as well as the introduction of Showcase Country Race Meetings will account for more than 60% of the proceeds from the second and third years of wagering tax parity and provide an enormous boost for racing in these areas.

The increases for Country participants will see prizemoney jump to approximately $69 million per annum, up from $31.2 million in the 2011 financial year, an increase of 120% over the past 4 years. 

“On behalf of the Baird Government I am delighted to announce that from 2016/17, minimum prizemoney for Country TAB meetings in NSW will be increased by $5,000 or 33% to $20,000 per race.  In addition, minimum prizemoney for Provincial meetings will be increased by $5,000 to $27,000, a rise of 23% per race,” said Mr Grant. 

“Further, Racing in Country NSW will benefit by the introduction of Country Showcase Meetings to be staged throughout the State.  

Approximately 40 meetings each year will be upgraded to carry premium prizemoney of $30,000 per race. 

“These increases will build upon the economic and social contribution made by thoroughbred racing, especially in Country NSW,” Mr Grant concluded. 

Racing NSW Chairman, John Messara said:  “While our first year’s receipts from parity are earmarked to fund The Championships and Highway races, we are pleased to announce this significant rise in Country TAB and Provincial prizemoney from July, 2016. 

“Country prizemoney of $20,000 per TAB race along with the new Showcase meetings make for the biggest ever injection of prizemoney into Country racing. 

Premier Mike Baird and Racing Minister and Deputy Premier, Troy Grant have placed Australia’s largest racing jurisdiction on a level playing field with Victoria.

Wagering tax parity is vital for the sustainability of racing in this NSW. The challenge is now to ensure NSW has a competitive, vibrant and innovative racing industry.

Today’s announcements follow the introduction last season of the Country and Provincial Championships of $2.3 million in prizemoney and the recently commenced Highway Races for Country-trained horses which provide a further $1.6 million in prizemoney annually for Country participants. 

Racing NSW has also committed approximately $50 million for capital works at Country and Provincial race clubs throughout NSW from accumulated race fields fees. 

Racing NSW also announced that from 1 July 2016 Racing NSW will launch a new Traineeship and Apprenticeship Scheme for youth in Regional NSW by committing $1 million per annum to the Scheme. The first priority of the Scheme will be to employ apprentice track curators throughout NSW.

Racing NSW also announced an amount of $2 million per annum will be allocated to assist any race clubs throughout NSW meet their operating costs and operate at best practice levels, to commence from 1 July 2016. 

Finally, in addition to their 5% share of the increased prizemoney, jockeys will also receive a further $660,000 per annum in riding fees from 1 July 2016. 

The five year phase-in of wagering tax parity in NSW will see the NSW Government progressively reduce its share of TAB gross wagering revenue to be equal to that of its Victorian counterpart and this will provide $181.6 million of additional funding to the NSW Thoroughbred Racing Industry.