Eyes On The Prize Money-Aussieraces.com
How The New Prize Money
Levels Will Affect Racing‘Prize money’ was the proceeds of a captured ship that was usually divided amongst the officers and men making the capture. From the start of the 2015/16 racing year there is a lot more prize money being divided amongst racing industry participants in Victoria.
Racing Victoria has made some big increases to prize money for the racing season. Prize money for the 2015/16 racing year has been ramped up by more than $16 million - but just as importantly, there are major changes to the distribution of prize money that have major ramifications for trainers, jockeys, owners - and punters.
Most Country races that previously had a stake of $15,000 are now worth $20,000 - a big jump in value of 33.3%. Many Country Premier or ‘Provincial’ races which previously had a stake of $17,500 are now worth $30,000 - a whopping increase of some 71%. In comparison, prize money for most mid week and Saturday metropolitan races has risen by only 12-14%.
The changes instituted by Racing Victoria aim to better reward grassroots participants of the industry. With the much bigger dollars on offer for Country and Country Premier races trainers are more likely to target these events with their horses. Also, top jockeys are more likely to ride at the meetings whereas maybe they previously wouldn’t have. It all adds up to stronger racing in the country. From a punting perspective, bettors should therefore attribute more value to country form in the 2015/16 racing year.