Prizemoney increases announced today by Racing Victoria, Country Racing Victoria and the three metropolitan racing clubs are supported by Thoroughbred Breeders Victoria. In particular, TBV welcomes increase in the minimum levels of prizemoney across country and maiden racing.
Prizemoney, at all levels, is a vital way to return benefits to industry participants ensuring the industry remains viable and engaging to a broad range of people.
With breeders estimated to fully or partly own more than 60 per cent of all racehorses, there are clear benefits to our members. We hope Victorian breeders can take home the sizeable winners’ cheques from the Melbourne Cup, Caulfield Cup, Cox Plate or VRC Derby this year!
While TBV appreciates the increases in prizemoney announced, we are disappointed that our proposal to increase the level of bonuses paid out through VOBIS (the Victorian Owners and Breeders Incentive Scheme) was not accepted.
Racing Victoria’s independent consultants acknowledged in last year’s prizemoney review that VOBIS has been critical in helping maintain field sizes and thus wagering revenue. Furthermore, it recommended supporting ‘grass-roots’ racing of which VOBIS is an important part.
Off the back of that analysis, TBV believes it is critical that Racing Victoria inject further resources into VOBIS which benefits both the racing and breeding sectors here in Victoria.
We will continue to put our case strongly for VOBIS enhancements as we work cooperatively with Racing Victoria and other key stakeholders.