Following the announcement by the Minister for Racing of a 6% increase in stakes from 1 February 2021, Tasracing has consulted with the Greyhound Reference Group as to how to best allocate the additional funding to the benefit of participants.
The GRG provided recommendations for the expenditure of the additional funding:
- Feature race finals that carry a winning stake of less than $3,000 be increased by $1,000 and those finals with more than $3,000 to the winner be increased by an additional $3,000.
- The introduction of an unplaced trainer subsidy whereby if a trainer failed to have a greyhound earn any stakes at a meeting, they would be provided a subsidy. There were differing views between the GRG members as to whether that should be for all trainers or only those that travel outside their area. There were also differing views on the amount of the subsidy.
- The balance of the additional funding be injected into stakes for graded races, which will flow through to the heats of feature events.
- Tasracing suggested a set percentage for the allocation of stakes across the placings for races, including fourth place. This was accepted and recommended by the GRG, although there were suggestions of an alternative percentage allocation being applied just for the increase amount.
Tasracing has considered the above recommendations and determined that the funding will be allocated as follows:
- Feature race finals that carry a winning stake of less than $3,000 be increased by $1,000 and those finals with more than $3,000 to the winner be increased by an additional $3,000.
- The stakes for Feature events will have a set percentage break-up.
- The balance of the funding will be injected into stakes for graded events, which will also flow through to the heats of feature events. This will provide an additional $95 to every race.
- The stakes for graded events will be allocated in accordance with the following percentages (rounded to the nearest $5) – 67.75% – 19.5% – 9.5% – 3.25%.
The allocation of stakes by set percentages will result in fourth placing also sharing in any future increases in stakes. Tasacing considered the alternative proposal for a set percentage on only the increased funding, however on review there was very little difference in the outcomes and the proposal would create another level of complexity to the break-up allocations.
While Tasracing is not opposed to the introduction of an Unplaced Trainer Subsidy, our policy is that all payments to participants are required to be paid through the electronic payments system. The tools to make these payments electronically are not in place at this time. As a result, the payment of an Unplaced Trainer subsidy will not be implemented at this time and Tasracing will investigate options for the development of the appropriate tools to allow this option to be implemented.