An economic study has found thoroughbred racing could contribute an additional $172 million to the NSW economy if it achieves parity with other states on wagering tax.

Racing NSW, which has been lobbying the state government for a reduction of the wagering tax it pays, says $48 million could be derived from the autumn carnival and The Championships.

Peter V'landys, chief executive of Racing NSW, said the Deloitte Access Economics Report estimates would help fund racecourse upgrades and develop The Championships into an event comparable to the Melbourne spring carnival.

The report said The Championships could also lead to an increase in gross state income of $36 million from event motivated tourism.

"Thoroughbred racing is a significant contributor to the NSW economy as well as its social fabric," V'landys said.

"However, it is not always about economics as it shouldn't be underestimated the social and entertainment value racing has in regional areas.

"Racing NSW is seeking parity with interstate racing with respect to government's share of TAB wagering revenue.

"The report by Deloitte Access Economics gives some insight into what could be achieved by the thoroughbred racing industry if successful."

V'landys said Racing NSW's commitment was to boost prize money and facilities thereby boosting employment in the industry.