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Racing NSW today announced a further $30 million in prizemoney increases along with record investment in infrastructure and an additional share of prizemoney for both equine welfare and stable staff.

As detailed below, these latest prizemoney announcements totalling $30 million will see total prizemoney paid in NSW increase to $358 million per annum. This is an increase of $239 million, or more than triple the prizemoney levels from 2012.

Minimum prizemoney increases

Minimum prizemoney for all levels of Country racing have been increased as follows:

• Picnic minimum prizemoney increases from $5,000 to $7,000
• Non-TAB minimum prizemoney increases from $10,000 to $12,000
• Sky 2 minimum prizemoney increases from $15,000 to $16,000
• Country TAB minimum prizemoney increases from $25,000 to $27,000

 In addition to the above minimum prizemoney increases, two races at every Country TAB race meeting will now be restricted to NSW Country trained horses only and will carry prizemoney of $30,000. Two races at every Country Showcase meeting will also be restricted to NSW Country trained horses and will carry prizemoney of $35,000. At some meetings this will be increased to three races.

Additional prizemoney will also be offered in the Provincial sector, with two races at each Provincial race meeting carrying prizemoney of $45,000. One of these races will be restricted to Provincial trained horses only and the other will be restricted to Midway trained horses only.

To build on the success of the Highway and Midway races, prizemoney for these races will increase from $100,000 to $120,000 per race at Saturday Metropolitan race meetings.

Spring feature race increases

In addition to the above minimum prizemoney increases, a number of feature races in spring have also received increases in prizemoney as follows:

• The Concorde Stakes will increase from $160,000 to $500,000
• The Shorts will increase from $500,000 to $1 million
• The Premiere Stakes will increase from $500,000 to $1 million
• The Kosciuszko will increase from $1.3 million to $2 million
• The Sydney Stakes will increase from $500,000 to $2 million
• The Nature Strip stakes will increase from $1 million to $3 million

 There will also be two new races added to the spring carnival. A $1 million race will be added to Everest Day, called the Five Diamond Prelude, over 1500m for 5yos only, providing a lead up for the Five Diamonds.

Also, a new $500,000 race will be added to Big Dance Day, called the Little Dance, for those horses eligible, but unable to gain a start in The Big Dance.

New $6 million Sportsbet Sydney Sprint Series bonus

The Everest is the feature of the NSW Spring Racing Carnival and the popularity of The Everest has quickly seen the surrounding sprint races develop significant interest and betting turnover.

To further grow these sprint races across spring, a new $6 million bonus fully sponsored by Sportsbet will be paid to the horses winning the most points across the following six races. These races will be known as the Sportsbet Sydney Sprint Series:

 Points will be awarded based on 5 points for 1st, 4 points for 2nd, 3 points for 3rd, 2 points for 4th and 1 point for 5th in each of the first 5 races. Double points will be awarded for the Nature Strip Stakes on Golden Eagle Day. It will also be a condition of the bonus that horses must have competed in at least 3 races in the series to be eligible.

Autumn feature race increases

There have also been increases in prizemoney for key races during the Sydney Autumn Carnival:

• The Queen Elizabeth Stakes will increase from $4 million to $5 million
• The Doncaster Mile will increase from $3 million to $4 million
• The TJ Smith Stakes will increase from $2.5 million to $3 million
• The Galaxy will increase from $700,000 to $1 million
• The Ranvet Stakes will increase from $700,000 to $1 million

Infrastructure funding

Also announced today was an infrastructure project fund of $125 million that will be delivered by Racing NSW over the next two years. This project fund includes $70 million in grants received from the NSW State Government who continue to support the NSW Thoroughbred Racing Industry participants and $55 million set aside by Racing NSW.

These projects range from construction of stables, new training tracks, course proper works, customer facilities, raceday amenities and jockeys rooms right across the state.

Racing NSW will continue to work with race clubs and participants regarding the allocation of these funds.

Change in prizemoney distribution

In July 2012 Racing NSW introduced the 1.5% strappers bonus, being the first state in Australia to do so. This bonus provides a significant reward for the industry's lowest paid workers, letting them share in the success of their stables. As part of announcements today, Racing NSW will be increasing the strappers bonus from 1.5% to 2% of prizemoney.

In October 2016 Racing NSW introduced the Equine Welfare Fund which receives 1% of all prizemoney paid, being the first state in Australia to do so. These funds are used to care for, retrain and rehome NSW Thoroughbred racehorses. This Equine Welfare Fund share of prizemoney will increase to 1.5%.

The above prizemoney increases and changes in the distribution of prizemoney will come into effect from 1 September 2022. A schedule of all increases is attached to this release.

Racing NSW Chairman, Russell Balding AO said: "NSW Country racing is the bedrock of our industry, it is important therefore that we ensure the ongoing viability of country racing and the sustainability of our country trainers.

"Total prizemoney for Everest Day will now be a staggering $21.8 million which far exceeds any other race meeting in Australia and cements Everest Day's place on the International Stage of premier racing," Mr Balding AO added.

SCHEDULE OF PRIZEMONEY INCREASES