Racing Victoria to Offer Increased Purses in Australia as the Industry is Very Healthy

The governing body for thoroughbred horseracing in the southern Australian state of Victoria has reportedly announced the addition of just over $12 million to the prize money pots for next season’s racing calendar.

Racenet.com.au reported that the horseracing industry in Australia is very healthy when compared to the sector in the United Kingdom as the two biggest races from this year’s Royal Ascot meet featured a combined prize pool of just $1.28 million and saw the collective rewards for any of its other events fail to top $751,200.

“In formulating our prize money structure, our priority was to ensure that all levels of Victorian racing from picnic meetings right up to group one race days benefited from an uplift in wagering returns. I’m pleased that we have been able to achieve this.”