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!
Watch Live Racing FREE!
Sign-up now and Watch every Race Live and Free on your Phone!
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...

Victorian horses banned from NSW

Racing NSW has banned horses trained in Victoria from taking part in races in the northern state for an indefinite...

Te Akau Shark suffering from post surgery complications

Star New Zealand galloper Te Akau Shark remains in an equine hospital in Sydney after undergoing eye surgery. Te Akau...

Watch: Riderless horse claims run of the week

I’ve just watched all the replays from the weekend’s racing and well, I have to say this. Probably the best...

Black Caviar’s latest foal gets a name

Black Caviar’s latest foal has already been named by connections. The son of Black Caviar by leading stallion I Am...

Multiple G1 winner onto his sixth trainer

In a move that has angered some racing fans Group One winner Humidor will again be on the move to...

Watch: Punters in uproar over upheld protest

There was quite the hue and cry out of Hawkesbury yesterday when the stewards upheld a protest. The favourite at...

Watch: First starter at $101 wins like an odds on shot

Connections of a first starter at Donald on Saturday either don’t bet or they were unaware of the ability that...

Top Sydney trainer charged after G2 winner tests positive to ice

Top Sydney trainer John O’Shea has been charged by the Queensland Racing Integrity Commission after one of his horses tested...

Jockey in trouble over whip rule tweet

A tongue in cheek tweet about current whip rules has landed a Victorian jockey in trouble. Jockey Jamie Mott has...

Kiwi star suffering from rare eye condition

A rare eye condition that needs surgery will delay the return to training of two-time Group One winner Te Akau...

NZ jockey banned for life

A New Zealand jockey has been banned for life over charges relating to a conspiracy to harm another jockey during...

Australian Bookmaker Reviews

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

 
 
Copyright © 2020 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.