Victorian Prize-Money Boosted Above A$300 Million

For the first time, prize-money in Victoria, Australia will be above A$300 million, as the 2022-2023 racing schedule was released on Tuesday by Racing Victoria. The season will feature 554 race meetings beginning on Aug. 1, with total prize-money and bonuses on offer equaling A$314 million. This increase brings the average prize-money and bonuses on offer per race in the state to a nation-leading figure of over A$72,600. Totaling A$26.2 million, the prize-money boost includes more than A$11 million in additional funding for minimum prize-money and over A$7 million of that amount has been specified for country races. The major prize-money increases and scheduling changes for the next racing year are as follows:

2022 Melbourne Cup Carnival:

• The final day of the Melbourne Cup Carnival will now be known as VRC Champions S. Day on Nov. 5 and prize-money for the race day has been increased to A$10 million;
• The G1 Cantala S. will be moved to VRC Champions S. Day on Nov. 5, renamed the Kennedy Champions Mile, be worth A$3 million and run under weight-for-age conditions;
• Prize-money for the G1 Darley Champions Sprint (1200m) and the Group 1 VRC Champions S. (2000m), registered as the Mackinnon S., both held on VRC Champions S. Day, have also been increased to A$3 million;
• Prize-money for the Oct. 29 G1 Coolmore Stud S. (1200m, 3YO) will increase by A$500,000 to A$2 million–the purse also on offer for the G1 Penfolds Victoria Derby (2500m, 3YO) on the same programme.

2022 Spring Racing Carnival:

• G1 Neds Caulfield Guineas (1600m, Caulfield, Oct. 8)–A$3 million (up A$1 million)
• G1 Ladbrokes Manikato S. (1200m, The Valley, Oct. 21)–A$2 million (up A$1 million)

2023 Festival of Racing:

• G1 TAB Australian Cup (2000m, WFA, Flemington) moved to Mar. 25 and worth A$3 million
• The TAB Australian Cup will be run one week after The All-Star Mile in 2023, before extending to a two-week gap from 2024 with changes in the fall of dates. The fifth edition of the A$5-million The All-Star Mile will be held at The Valley on Saturday, Mar. 18, 2023;
• Flemington will host three Group 1 racedays in March 2023 with the Australian Guineas (1600m) and the Yulong Stud Newmarket H. (1200m) to be held on the first and second Saturdays of March, respectively.

Country Meetings (as of Aug. 1):

• Standard races will increase to A$27,000;
• Premium races will increase to A$37,500;
• Premium races for BM70 and above will increase to A$40,000; and
• Night races will increase to A$40,000.

Metropolitan Meetings (as of Aug. 1):

• Saturday 2YO, 3YO, BM90, BM100 and Open Handicap races will increase to A$150,000;
• Saturday Pathway races (ninth race) will increase to A$80,000; and
• Midweek races will increase to A$55,000.

Group & Listed Races:

• Minimum prize-money for all listed races will increase to A$175,000 to ensure an appropriate differentiation.
•  This follows an increase in minimum prize-money for all group races this season to A$750,000 (Group 1), A$300,000 (Group 2) and A$200,000 (Group 3), whilst listed races rose from A$175,000.”Racing Victoria is thrilled to announce an increase of over $26 million in prize-money and VOBIS bonuses on offer alongside some exciting programming changes for the 2022-23 racing season,” said Racing Victoria Chief Executive Giles Thompson. “Our ability to provide these prize-money increases comes from the hard work of industry participants in continuing to deliver a quality product that has attracted outstanding engagement through a challenging two years of the COVID-19 pandemic.

  “In formulating our prize-money structure, our priority was to ensure that any increases are sustainable and that a broad cross section of races, from country minimums to Group 1 races, were able to receive an uplift and I'm pleased that we have been able to achieve that.

  “The 2022-23 race dates have been constructed with a focus on continuing to build customer engagement, exploring opportunities to grow wagering returns to the industry, and ensuring we continue to deliver quality racing especially across our peak periods.

  “Together with our Clubs and stakeholder groups, we are united in seeking to grow Victorian racing and reward those that participate within our state and the race dates and prize-money increases announced today give people plenty of great reasons to do so.”

  This follows an increase in minimum prize-money for all group races this season to A$750,000 (Group 1), A$300,000 (Group 2) and A$200,000 (Group 3), whilst listed races rose from A$140,000.