Twenty feature races across the three codes of racing that will be run as part of the 2024/25 Ladbrokes Summer Racing Festival will offer prize money of more than $2.9 million.
A further $500,000 will be offered in harness and thoroughbred country cups in regional parts of the state.
The 2024/25 festival started on Wednesday 27 November with the running of the $150,000 Newmarket for thoroughbreds over 1200-metres in Launceston and will finish with the $250,000 Ladbrokes Launceston Cup on 26 February 2025.
The 2024/25 festival will include the Ladbrokes Hobart and Devonport Cups for thoroughbreds, The Chase, the Ladbrokes Hobart Thousand and the Ladbrokes Launceston Cup for greyhounds, and The Golden Apple and the Hobart and Devonport Cups for harness.
Tasracing CEO Andrew Jenkins said all parts of the state would feature in the festival.
“They include Group race days in our cities and country race days on King Island, and at Longford, St Marys, Scottsdale and Burnie,” he said.
“It is important that at a time when we are promoting Tasmanian racing to a national audience that we position ourselves as a statewide industry, benefiting regional economies as much as the economies of the major population centres.”
Mr Jenkins said while national exposure for summer racing was extremely important to the Tasmanian racing industry, it was also important to generate local support through crowds at race days that showcased the racecourse experience.
“We want to highlight Tasmania as an attractive racing destination for groups and focus on the entertainment aspect of our events,” he said.
The Size and Scope of the Tasmanian Racing Industry report found that the Tasmanian racing industry generated total direct spending of $189.6 million in Tasmania in 2021/22, with flow-on effects increasing the size of the value-added economic contribution to close to $208 million.
The report by IER to quantify the economic, employment and social contribution of the Tasmanian racing industry also found that the total expenditure generated by racing customers was $12.2 million (excluding wagering on the races).
Racing’s customers include attendees, sponsors, members, broadcast providers, community groups and participants.
The report also found that $8.3 million of that amount was generated off-course.
Mr Jenkins said this was heavily driven by feature race meetings where the links to fashion and retail, as well as larger travel distances for those attending the races, drove spending in the community.
“Further, small businesses are benefiting from their involvement across the Tasmanian racing industry,” he said.
“For example, annual events like the Ladbrokes Summer Racing Festival make essential use of local contractors and companies which adds to increasing enjoyment of the events for the crowds as well as providing employment for locals.”
Other key racing elements of the festival include the Ladbrokes $150,000 Double Cup Connections Bonus for thoroughbreds and The Ladbrokes $100,000 Triple Treat Connections Bonus for greyhounds.
The Ladbrokes Double Cup Bonus, payable to the owner / trainer of any horse that wins the Ladbrokes Hobart and Launceston Cups in the same year, has been increased to $150,000.
The Ladbrokes Triple Treat Connections Bonus will see a $100,000 bonus paid to the owner / trainer of any greyhound that can win the finals of The Chase (16 January 2025), the Ladbrokes Hobart Thousand (12 December 2024) and the Ladbrokes Launceston Cup (3 February 2025).
If one greyhound wins two of the eligible races but fails to win all three, a $25,000 bonus will be paid to the owner / trainer.
The festival also includes the Ladbrokes Community Sports Series.
Local sporting and community clubs will be invited to enter a draw to be selected to have a horse running in their name on each of the three thoroughbred cup race days.
The total prize pool for each race will be $25,000, with the winning club receiving $10,000.
Mr Jenkins said the initiative provided sporting and community clubs, that often survive on volunteers, the opportunity to win $10.000 if their horse won which could make a real difference to smaller clubs.