Victoria prizemoney increases

An additional $15.5m has been injected in next season’s Victorian racing prizemoney disbursements, taking the total prizemoney and bonuses above the $200m level for the first time.

Racing Victoria

The increases were spread across several feature races:

  • MRC Memsie Stakes (now $1m)
  • VRC Maybe Diva Stakes (now $750k)
  • MRC Underwood Stakes (now $750k)
  • MRC Caulfield Stakes (now $1m)
  • MRC Caulfield Guineas (now $2m)
  • VRC Coolmore Stud Stakes (now $1m)
  • VRC Australian Guineas (now $1m).

We are advocate of a greater spread of prizemoney across all levels of racing, rather than concentrating on the top end. So in our view, the most important increases are in the mid-tier and lower level races.

Standard Saturday metropolitan races are now worth a minimum $100k. This now rewards Victorian owners at least equal to owners in New South Wales – in fact, a little better as owners receive a higher percentage of total prize money (85% in VIC, 81.65% in NSW).

Standard country maidens receive a $2k bump up to $22k, with premium maidens up to $25k and night maidens up to $27k.

Saturday races over 2000m and further now come with a minimum $120k purse, rewarding patient owners and trainers with horses that mature with age and excel over a distance.

Last but not least, there is an allocation of 1% of prizemoney to both jockey welfare and equine welfare to fund investment in programs, services and initiatives.

Sadly, still no standard bonus scheme for stable staff, unlike in NSW. Although we suspect the execution of that disbursement is difficult when not disbursed according to a trainer’s policy or input. Perhaps trainers who use a small part of these increases to commence a bonus structure for stable staff, may begin attracting more and better qualified staff? 

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