Increase in prizemoney for Tasmania’s racing industry

Friday 12 June 2020

Jane Howlett, Minister for Racing

Increase in prizemoney for Tasmania’s racing industry

The Tasmanian Government looks forward to the return of racing this weekend and is committed to helping the industry grow following the interruption caused by the COVID-19 pandemic.

I am delighted to announce that prizemoney will increase by a further 3 per cent at a cost of $660,000 in the new financial year, giving industry participants confidence to invest in their racing animals across the codes of thoroughbreds, harness and greyhounds.

While many industry participants had expected stakes money to be reduced in 2020-21 due to the loss of racing revenue over recent months, the increase will be very welcome news.

This 3 per cent increase means the Government is on track to deliver against its commitment to increase stakes every year through to 2022.

The split in the proportion of the extra stakes money to be delivered between codes will be determined in consultations between Tasracing and code representatives.

The boost in stakes will take effect from 1 July.

Read Tasracing’s return to racing article here.