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Tasracing has released further details of code allocations for the 2014/15 season.
As announced previously, the industry will receive $22.96 million in 2014/15 (2013/14: $22.31 million).
Code funding has been calculated as follows:
• Thoroughbred - $12.59 million, an increase of $346,600 or 2.83 per cent compared to 2013/14.
• Harness - $6.05 million, up $172,500 or 2.93 per cent.• Greyhounds - $4.32 million, an increase of $127,900 or 3.05 per cent.
Tasracing chief executive officer Eliot Forbes said the final code allocations had been signed off by the Tasracing Board, following extensive consultation with all relevant industry groups.
“In the thoroughbred code, we have increased base level stakes in maiden and class 1 races by $1,500 to $14,000 from 1 December 2014 to ensure Tasmanian prize money levels remain close to Victorian provincial meetings,” he said.
“Class 2 race stakes will be increased by $1,000 to $15,000 and class 4 by $1,000 to $16,000.”
Dr Forbes said because of changes to Hobart Cup and Tasmanian Derby days, the Summer Cup would be the lead-up race into the Hobart Cup with prize money increased from $30,000 to $50,000.
“In addition, the Hobart Guineas, the Tasmanian Guineas, the Tasmanian Stakes and the Newmarket Handicap received a $10,000 increase to $100,000.”
Dr Forbes said the harness code would benefit from two additional meetings this financial year.
“Tasracing will also contribute $85,000 to the new Tasbred Owners Breeding Incentive (TOBI),” he said.
“A TOBI of $1,000 is available for owners of any Tasbred winner aged four-years or older that wins a race in Tasmania during the season.”
Dr Forbes said the greyhound code would have an additional 70 races.
“Stakes will be increased by $90 per greyhound race from 1 October 2014,” he said.
“There will be a $300 increase per race to distance races longer than 700-metres.”
Dr Forbes said the principles applied to the code budget for 2014/15 ensured racing volume was optimised to grow Race Field Fee income and see base level stakes increased to enhance returns to owners.
“We also want to promote attractive wagering product in field size and competitiveness of racing,” he said.
“Through the model, we are looking for every opportunity to drive commercial growth.”
