Best Odds with Top Tote+ and Bet Back Offers!
Register at Australia's #1 Online Bookmaker!
Watch Live Racing FREE!
Sign-up now and Watch every Race Live and Free on your Phone!
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: AAP
Prize money for races in NSW will be cut by 20 per cent until the end of the financial year

Prize money for races in NSW will be cut by 20 per cent until the end of the financial year because of the flow-on effects from the coronavirus crisis.

While racing is continuing in Australia under strict biosecurity protocols, meetings are being held without spectators, reducing the income from wagering, hospitality and sponsorship.

Pubs, clubs and TAB agencies are also closed.

Racing NSW announced on Sunday, the prize money cuts would not cover all losses.

“As the main source of funding for prize money, which is wagering, continues to be severely impacted by the current lockdowns of pubs, clubs and TAB retail agencies, Racing NSW has determined that prize money reductions need to be introduced until 30 June 2020,” Racing NSW said.

“The reduction in funding from wagering is compounded by other sources of funding for NSW race clubs, being on-course attendances, catering revenue and sponsorship, becoming non-existent given the public is not permitted to attend race meetings.

“The reduction in prize money does not cover the revenue losses so some meetings will be run at a loss. Accordingly, Racing NSW will absorb the losses from its future fund and also provide further funding to NSW race clubs from Racing NSW’s cash reserves to sustain those race clubs while the industry faces the uncertainty and challenges presented by the coronavirus pandemic.”

The reductions will apply after Saturday’s Queen Elizabeth Stakes day at Randwick and continue until June 30.

* Races of $100,000 and above will be reduced by 20 per cent

* Races between $25,000 and $100,000 will be reduced by 10 per cent;

* Minimum prize money for Country TAB race meetings will be reduced from $22,000 to $20,000.

There will be no reductions for non-TAB and picnic races.

Programming changes have also been made with the stand-alone Saturday meetings at Hawkesbury and Scone on April 25 and May 16 respectively transferred to Rosehill.

The $500,000 Coast, originally to be held at Gosford on May 9, will be replaced by a benchmark race at the meeting now transferred to Randwick.

Benchmark races in Sydney on Saturdays will drop from $125,000 to $100,000.

The Group One All Aged Stakes on April 18 will be worth $500,000, down from $600,000.

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

Horse Racing Big Collects, Bets and Moves – Saturday’s Races 6/6/2020

Australia’s leading bookmaker the TAB gives an overview of today’s betting markets from the feature races and race meetings from around the...

Stradbroke Handicap results and replay – 2020

View the results and replay for the 2020 Stradbroke Handicap. The Stradbroke Handicap was raced at Eagle Farm racecourse on...

JJ Atkins Stakes results and replay – 2020

View the results and replay for the 2020 JJ Atkins Stakes. The JJ Atkins Stakes was raced at Eagle Farm...

Archie Alexander

In-form Victorian trainer facing cobalt charges

Trainer Archie Alexander has been charged by Racing Victoria stewards after one of his horses returned a swab that breached...

Spring Racing Carnival dates to remain unchanged

Racing Victoria has rejected a proposal to make sweeping changes to the 2020 spring carnival. In a Melbourne Racing Club-backed...

Watch: $125 lay bet costs punter $61,600

A punter with Betfair had a disastrous day on the punt on Wednesday after a lay bet to collect $125...

Master Montaro

Watch: Boom 3YO justifies big price tag

Master Montaro has justified a lofty purchase price with a stylish victory at Geelong and is set do his future...

Jockey suspended in three consecutive races

A Queensland jockey has been suspended in three consecutive rides on Thursday at Cairns. Apprentice jockey Emily Cass saw the...

Watch: Worst moral beaten ever as jockey mistakes winning post

A jockey in France has cost punters and connections a certain win after mistaking the winning post. Jockey Maximilien Justum...

Stradbroke Handicap

The is a race held at in Queensland each year and is the showpiece of the Brisbane Winter Carnival.. The...

JJ Atkins Stakes

The is a race held at in Queensland each year and is the feature two year old race of the...

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.