Following the announcement by the Minister for Racing of a 6% increase in stakes from 1 February 2021, Tasracing has consulted with the Thoroughbred Advisory Network (TAN) as to how to best allocate the additional funding to the benefit of participants.
The Thoroughbred Advisory Network discussed the below recommendations for the expenditure of the additional funding:
- Increase base stakes from $18,500 to $20,000.
- Increase Age Maidens, CL3 and BM84s from $19,000 to $20,500.
- Increase Age and Open Hcps from $20,000 to $21,000.
- Stakes remain at $18,500 with additional races programmed.
- Additional meetings added to the Tasmanian Calendar.
- A new race or race series added.
- Selected Feature Races receiving an increase.
- Stakes paid to 6th or 8th.
Tasracing has considered the above recommendations and determined that the funding will be allocated as follows:
- Increase base stakes from $18,500 to $20,000.
- Increase Age Maidens, CL3 and BM84s from $19,000 to $20,500.
- Increase Age and Open Hcps from $20,000 to $21,000.
- Remaining funds to be allocated to the divided race pool.
This stakes structure will be implemented as of February 1, with Derby Day at Hobart on February 5 the first meeting under the new prize money structure.