$8.85m increase in Victorian prizemoney and returns to participants for 2022-23 season

Wednesday, 13 Jul, 2022,
by Greyhound Racing Victoria

$8.85m increase in Victorian prizemoney and returns to participants for 2022-23 season

GRV has reaffirmed its ongoing commitment to increasing financial returns to participants by today announcing significant uplifts in prizemoney and travel subsidies for the new racing season.

Greyhound owners and trainers competing in Victoria will be the beneficiaries of a total package of $71.5 million in prizemoney, bonuses, starters fees and travel subsidies on offer, representing an $8.85M increase (+14%) on 2021/22 levels.

The key components of the 2022/23 uplift package are:

$3.54M increase to prizemoney for Level 2 provincial races and $580,000 to realign place prizemoney ratios across all races at all meetings, to be introduced from 1 September
$3.43M uplift to travel subsidies commencing as soon as possible and backdated to 1 July
$1.30M representing the full year impact of prizemoney increases implemented last October

The prizemoney uplifts are primarily targeted at Level 2 provincial racing, which represents 60% of the Victorian racing program. All races at Level 2 meetings will receive a 5% increase to the current minimum prizemoney level starting from 1 September.

In addition, a targeted increase will be applied to all races above Grade 5 aimed at better rewarding owners and trainers of greyhounds competing at that level in provincial (L2) meetings. This will mean a L2 free for all (FFA) race over 485-570m will now carry total prizemoney of $6,190 (up from $3,725), while a provincial Grade 4 race at the same distance will be for $5,360 (up from $3,390).

Further, as a result of feedback and submissions received during consultation, a correction to the distribution ratios of prizemoney will be actioned for FY23 to align all races throughout the program at 65% 1st, 20% 2nd, 10% 3rd and 5% 4^th.

Also included in the 2022-23 program is an uplift to the prizemoney on offer for all Special/Group Event Heats & Finals, including the payment of unplaced prizemoney for Group 1 and Group 2 Finals.

Group 1 heats will now carry minimum total prizemoney of $15,250, excluding Melbourne and Australian Cup heats which will go to $22,000 in total prizemoney.
Group 2 Country Cup heats will carry total prizemoney of $10,500, excluding Sale Cup which is a Group 1.

With costs, such as fuel prices, associated with preparing and transporting greyhounds to meetings continuing to rise, GRV understands the need for greater financial support for participants, hence the commitment to increase travel subsidies paid per trainer at all race meetings by $40 to $110. Starter payments will remain at $20 per greyhound.

In making today’s announcement, GRV Chair Peita Duncan said GRV’s goal to appropriately reward participants and encourage investment in the industry, was pivotal to determining these significant increases in returns.

“Trainers, their kennel staff and families, work tirelessly seven days a week to meticulously prepare their greyhounds for racing and along with their owners, they continue to invest in the industry to put the show on, so they need to be appropriately rewarded for the contribution they make.

Travel subsidies will increase from $70 to $110 in welcome news for trainers.

“We involved a cross-section of our participant base in discussions, including the owners and trainers’ association (GOTBA), a cohort of owners and trainers from both large and small kennels, GRV’s Industry Consultation Group, Greyhound Clubs Victoria and our 13 clubs to get a greater understanding of what support was required and where we needed to invest more.

“GRV’s ability to make these increases available is as a result of the hard work of all participants and clubs in continuing to deliver a consistent and high-quality racing program that has attracted outstanding wagering results through a challenging two years of the COVID-19 pandemic.

“In determining the structure of these increases, our priority was to ensure that a broad cross section of races and participants received an uplift, and to deliver an aspirational racing program that maintains Victoria’s position as the pre-eminent jurisdiction to own, train and race greyhounds,” she said.

Increases to travel payments will be implemented as soon as possible and backdated to 1 July 2022.

Other changes to the prizemoney schedules are subject to system changes and are expected to be implemented no later than 1 September 2022.

New prizemoney levels to take effect no later than 1 September 2022:

Level 1 (Metro) racing

Level 2 (Provincial) racing

Level 3 (Tier 3, Ranking Limit) racing

Greyhound Racing Victoria

GRV regulates the sport of greyhound racing in the state of Victoria under the Racing Act 1958 (Act), which includes setting standards and ensuring they are met by participants.