Best Odds with Top Tote+ and Bet Back Offers!
Register at Australia's #1 Online Bookmaker!
Back A Winner!
Sign-Up to Australia's Fastest Growing Online Bookmaker!
Back Yourself!
Sign-up and start betting with Ladbrokes in 2 minutes!
Best Of The Best Odds!
Bet With Palmerbet and get Paid Top Fluc or Top Tote!
*Conditions Apply. Excl VIC, NSW, SA & WA. Gamble Responsibly
Image: Bruno Cannatelli
Melbourne's flagship spring races including the Melbourne Cup will retain their rich prizemoney

Melbourne’s flagship spring races including the Melbourne Cup will retain their rich purses while minimum prize money in Victoria will return to pre-COVID levels from the start of the new season.

But 12 stakes races during this year’s Victorian spring carnival, including three Group Ones, will have a prize money reduction.

Prize money for all Victorian races was reduced in early April in response to the impacts of the coronavirus pandemic, with metropolitan races taking a 20 per cent hit while country races were reduced by 10 per cent.

Racing Victoria on Tuesday said from August 1 minimum prize money would return to their previous levels and all VOBIS bonuses would be restored.

RV also confirmed the 2020 Melbourne Cup will carry $8 million prize money, the same as last year, while the Cox Plate and Caulfield Cup both remain at $5 million.

While the majority of the feature race prize money will be unchanged from 2019 levels, 12 of the 114 stakes races conducted in Victoria during the spring will have prize money reductions totalling $2.25 million.

Among those are three Group Ones with the Cantala Stakes and Darley Sprint Classic at Flemington both reduced from $2 million to $1.5 million.

The Group One Memsie Stakes at Caulfield will carry prize money of $750,000, down from $1 million.

“As the only live sport for three months, wagering turnover on Victorian racing has increased during the pandemic and this has largely helped to offset a significant reduction in returns from the VicTAB Joint Venture,” Racing Victoria’s chief executive Giles Thompson said.

“Despite the improved wagering outcomes, we will still be calling on the Industry Sustainability Fund to underwrite the return of prize money to pre-COVID levels.

“There are 110,000 people employed or participating in Victorian racing, many of them in regional communities.

“Whilst the pandemic is not over and its impact will continue to be felt for some time, we recognise that prize money is the lifeblood of our industry and it is fundamental to ongoing investment and jobs in Victorian racing that we maximise it in a responsible manner.”

 
*Existing customers only. 2nd Racing bet. Excl SA & WA. T’s & C’s apply. Gamble responsibly.
Featured News

Free Racing Bonus Bets and Offers

We take a look at the BIGGEST and BEST Free Daily Racing Offers and Betting Promotions from Australia’s leading online...

Star 3YO suffers a career-threatening leg injury

Promising three-year-old Glenfiddich is out of the autumn carnival after suffering a career-threatening leg injury. Trainer Peter Moody confirmed the...

Corey Brown fighting for spinal surgery

Melbourne Cup winning jockey Corey Brown is waiting on a court hearing before he can hopefully be cleared to have...

Horse Racing Big Bets – Saturday’s Races 23/1/2021

We take a look at the big bets the online bookmakers have taken on Saturday’s horse racing around the country...

Watch 📺 Another Rockhampton rocket unearthed

Back in October 2012, at Rockhampton over 1100m, a horse flew around the course in a Class 1 and bolted...

Exciting stallion dies due to liver failure

Sadly 13-year-old Coolmore stallion Zoffany was euthanised today owing to liver failure. “Zoffany was a great servant and he’ll be...

Star Singapore sprinter headed for Australia

Star Singapore sprinter Inferno is set to make the move to Australia ahead of a possible racing career if he...

Australian Bookmaker Reviews

Which bookmaker should you bet with? We Review each of the leading online Australian Bookmakers and rate them in order...

 
 
Copyright © 2021 Just Horse Racing.
All rights reserved - Privacy Policy

Gamble Responsibly 18+
*State exclusions apply to some offers. Please check T&Cs of each offer with the bookmaker. All Offers Exclude NSW residents.
18+ Don't let the game play you. Stay in control. Gamble responsibly. Think! About your choices. Call Gambling Help on 1800 858 858 or visit www.gamblinghelp.nsw.gov.au or www.gamblinghelponline.org.au.