From 1st February 2017, the minimum prizemoney for all two-year-old, three-year-old and open handicaps at Saturday metropolitan meetings will increase to $100,000.
This is welcome news to owners who race horses in Victoria, and of course to industry participants. This represents an increase from the current $80,000 level for age-restricted events and $90,000 for open handicaps. and matches the prizemoney now on offer in NSW.
It should be remembered however that the disbursements of the total prizemoney pool differs in NSW.
Owners receive 85% of the total Victoria prizemoney pool after trainer (10%) and jockey (5%) entitlements. But in NSW, owners receive 81.65% of total prize money after trainer (9.9%), jockey (4.95%), stablehand/strapper (1.5%), jockey insurance and welfare (1%) and animal welfare (1%) disbursements.
We expect further announcements on broader changes to prize money to occur in 2017.
Read the full article on racing.com: RV confirms Saturday boost to $100,000