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More than $3 million boost to prize money and new breeding support package

The Board of Greyhound Racing Victoria (GRV) has approved increases to minimum prize money and the introduction of a breeding sustainability support package to commence from November 15, 2017.

The total package equates to an annual increase in returns to participants comprising $2.55m in additional prize money and up to $1.40m available to be won in the new VICGREYS breeding excellence program to be shared between owners, trainers and breeders.

The package, which has been modified as a result of feedback received from industry stakeholders, focusses directly on increasing prize money to be shared between owners and trainers at the lower levels of racing while maintaining Metro Level 1 (Meadows Saturday night and Sandown Thursday night meetings) prizemoney at current levels.

Annual minimum prizemoney will increase by $1.18m (an increase of 6.1 per cent) across the bottom two tiers of races at Level 2 (Provincial Full Stakes) meetings, whilst Level 3 prize money (Tier 3, Healesville, All Maiden, Rankings) will increase across the board by $1.37m (an increase of 21.6 per cent).

The original proposal had a range of initiatives including an $80 per runner starters’ fee, however this has been removed from the package in response to feedback received from participants. Travel and Starters’ Fees remain at their current levels of $70 per trainer and an additional $10 per starter at all meetings.

Funding tagged for the $80 starters’ fee has a been reallocated in part to support the VICGREYS breeding excellence program.

Greyhound Racing Victoria CEO Alan Clayton said the changes to prize money and the new breeding support package were indicative of GRV’s focus on ensuring a strong and sustainable industry for many years to come.

“These changes mean there has never been a more lucrative time to be involved in Victorian greyhound racing. The industry is headed in the right direction as shown in our recent Annual Report and only last week we received emphatic public support from Victorian Premier Daniel Andrews and Minister for Racing Martin Pakula,” Mr Clayton said.

“The package is designed to acknowledge breeding excellence and this is for both large and small breeders.”

Prizemoney Package
The prize money increases are to be implemented for races held from 15 November 2017 onwards.

Level 2 – Minimum Prize Money Structure

  1. increase Maidens to current Grade 5,6 & 7 level;
  2. increase Grade 5,6 & 7 to current Grade 4 & Mixed 4/5 Level; and
  3. remaining races remain the same as current minimums.
Level 2 (Prov. Full Stake) Min Prize Money ($)

1st

2nd

3rd

TOTAL

CURRENT

Starters
Maidens

1,325

375

190

1,890

1,415

Avg. travel & starters per race

 

$420

Grade 5,6,7 & Restricted Win

1,405

400

200

2,005

1,890

Grade 4, Mixed 4/5

1,405

400

200

2,005

2,005

Rest Win Final, FFA, Spec Event, Gr5 Final, Mix 3/4

1,650

475

235

2,360

2,360

Level 3 – Minimum Prize Money Structure
Entire prizemoney schedule is consolidated into a single amount for all grades, equivalent to the current top tier (i.e. $1180 per race). This means Level 3 Maiden races will be at 63 per cent of Level 2 Maidens’ prize money.

Level 3 (Tier 3/Half Stk) Min Prize Money

1st

2nd

3rd

TOTAL

CURRENT

Starters
Maidens 1,180

710

Avg. travel & starters per race

 

$468

Grade 5,6,7 & Restricted Win

825

235

120

945

Grade 4, Mixed 4/5

1,000

Rest Win Final, FFA, Spec Event, Gr5 Final, Mix ¾

1,180

VICGREYS Package
The package also focusses on supporting and rewarding sustainable and successful breeding in Victoria, by allocating up to $1.4m in annual VICGREYS payments available to be won on about 1900 selected Victorian races for owners and breeders of Vic Bred greyhounds in a new Breeding Package. All Vic Bred greyhounds of all ages will be eligible for the VICGREYS program immediately with no nomination fees payable to be eligible and no restrictions applicable on the location of the owner or breeder of the greyhound.

EVENT TYPE

ANNUAL RACES TO BE PROGRAMMED MAX RACE BONUSES AVAILABLE TOTAL ANNUAL AVAILABLE BONUSES EXPLANATORY NOTES

Selected Metro Races

24

$2,400

$57,600 If winner is VicBred $2,400. If not the highest placed 2nd or 3rd VicBred greyhound receives

$1,200.

Selected Provincial Races 624

$1,000

$624,000 If the winner is VicBred$1,000. If not the highest placed 2nd or 3rd VicBred greyhound receives $500.
Super Metro (1st, 2nd, 3rd) 2

$17,000

$34,000

Races exclusively for VicBred greyhounds. Money shared between 1st, 2nd and 3rd placed.

Super Provincial (1st, 2nd, 3rd) 11

$5,000

$55,000

Races exclusively for VicBred greyhounds. Money shared between 1st, 2nd and 3rd placed.

ALL Metro Race (winners)

1,248

$500

$624,000

If the winner of a Metro Race is VicBred $500. If not the highest placed 2nd or 3rd VicBred receives $250.

TOTAL

1,909

$1,394,600

50 per cent of the bonus applicable to the winning greyhound will be paid to the breeder, and the other 50 per cent will be paid to the owner. The Trainer does not receive a share of the bonus money.

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