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The SA thoroughbred racing industry will receive an additional boost via an increase in general prize money.

Racing SA CEO Nick Redin described the board's decision to boost prize money as another example of the SA industry pursuing its strategy of growth and job creation. 

"The industry is strong and vibrant at the moment, and this announcement only adds to further to that momentum," Mr Redin said.

"These new prize money levels will ensure our SA participants will be in a position to continue to grow their businesses."

"The increase means Saturday races will offer a minimum $40,000 in prizemoney, from July 1," Mr Redin said.

"Importantly, all provincial and country maiden prize money has been lifted to the same as restricted levels."

Mr Redin described prize money as "the lifeblood of the industry" and said the Racing SA board made the funding decisions following the completion of the organisation's 2021-2023 strategic plan.

He said coupled with Racing SA's share of the Marshall State Government's industry investment of almost $30 million in the racing industry in SA, (which included $24 million from the government's stimulus package announcement in 2019), the prize money boost is aimed at increasing horse numbers in the state and creating more jobs.

"It's all aimed at achieving our target of having 300 more horses in work by the start of the 2024/25 racing season," he said.

"One job is created for every four horses, so the tangible benefits of this increase and the government investment are there for all to see."

Changes for 2022
- General prize money increases across the board (from July 1).