Racing Victoria has announced increases for the upcoming season with connections of horses racing for $314 million in prize money and bonuses.
It is the first time the figure has surpassed $300 million and is a rise of $140 million, or 80 per cent, since 2015, with the new season getting a lift of $26.2 million in prize money and VOBIS bonuses.
Feature races, metropolitan races and country races are all receiving a boost.
And RV has raised its intentions to review prize money levels for the 2023 Festival Of Racing which is run between February and March.
Key increases were the announcement of the Caulfield Guineas increasing $1 million to $3 million, the Manikato Stakes doubling to $2 million, The Vase, at The Valley, up $300,000 to $500,000 while the Geelong Cup and Bendigo Cups each received a $100,000 boost to $500,000.
From August 1, Saturday 2YO, 3YO, BM90, BM100 and Open Handicaps will increase to $150,000, up from $130,000, Saturday Pathway races increasing from $75,000 to $80,000 and Midweek races going from $50,000 to $55,000.
As a result of the Saturday increases, Listed races will rise from $160,000 to $175,000.
Standard races at country venues rise from $25,000 to $27,000, premium races increase to $37,500 from $35,000 with premium benchmark 70 races going from $35,000 to $40,000.
All races at night meetings increase from $35,000 to $40,000.
RV also announced its race dates for the 2022-23 season and will hold 554 meetings across 354 days next season, made up of 108 metropolitan meetings, 395 country TAB meets, 18 country non-TAB and 33 picnic meetings.
There will 51 night meetings, three less than in 2021-22, while there will be 11 race-free days, down from 16 this season.
Giles Thompson, RV Chief Executive, said the ability to provide prize money increases comes after the hard work of industry participants following two years of the COVID pandemic and its restrictions.
“In formulating our prizemoney structure, our priority was to ensure that any increases are sustainable and that a broad cross section of races, from country minimums to Group 1 races, were able to receive an uplift,” Thompson said.
“The 2022-23 race dates have been constructed with a focus on continuing to build customer engagement, exploring opportunities to grow wagering returns to the industry, and ensuring we continue to deliver quality racing especially across our peak periods.
“Together with our Clubs and stakeholder groups, we are united in seeking to grow Victorian racing and reward those that participate within our state.”