Canberra Prize Money 2012/2013

The Canberra Racing Club will increase prize money for the financial year commencing 1 July 2012.

 During the financial year the Club will conduct 25 race meetings 17 of which will be on the Turf Course Proper and 8 race meetings on the Acton (synthetic) Track.

Prize money for standard races on the turf course proper will be $15,000 for Open Class and Benchmark races and $14,000 for Maiden and 2yr Old Class races.

 Prize money for standard races on the Acton track will be $13,000 up from $11,000 commencing from 1 August.

 Prize money for all races will be paid on a break up from 1st to 4th with 65% paid for first, 20% for second, 10% for third and 5% for fourth.

 Prize money break ups for standard races are as follows:

                                 1st           2nd         3rd          4th

$15,000:  $9,750 - $3,000 - $1,500 - $750

$14,000:  $9,100 - $2,800 - $1,400 - $700

$13,000:  $8,450 - $2,600 - $1,300 - $650

 The Club will distribute $766,000 prize money on the Club’s flagship race day the Kamberra Wine Company Black Opal Stakes on Sunday 10 March 2013.

The Canberra Racing Club recognizes that prize money is the economic driver for racehorse ownership and employment within the racing industry and the Club will continue to maximize prize money levels to support the racing industry and at the same time produce budgets that ensure the long term sustainability of the Club and the ACT racing industry.  

The Club has had discussions with the ACT Government to progress the timely amendment to the Racing Act from the current race fields (RFL) model of 10% of gross revenue charged to wagering operators for the racing product to a turnover based model of 1.5%. The timely amendment to RFL is crucial to the Club’s ability to maintain and increase prize money in the future.  

 Peter Stubbs

Chief Executive

18 June 2012

 

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