Major prizemoney boost for Queensland

Queensland's three racing codes will be on the receiving end of a major prizemoney boost from October 1 this year ina funding windfall for the 30,000-strong Queensland racing industry.

Addressing an industry briefing at Deagon last Monday afternoon, Queensland All Codes Racing Industry Board Chairman Kevin Dixon said Racing Queensland will delivered on its commitment to improve the returns for participants of all codes in the wake of the new wagering deal.

"This is a monumental occasion for the Queensland racing industry. Today, we have provided an opportunity for every participant in the state to increase their returns through significant increases to prize money allocations in all codes," Mr Dixon said.

"For years, the Queensland racing industry has been lobbying for more prizemoney and we have delivered that today in a way that ensures each code and region benefits from the increases.

"Based on the increases coming into effect on October 1, overall prizemoney year on year will increase by 50 per cent for greyhounds, 20 per cent for thoroughbreds and 16 per cent for harness racing.

"These improvements were devised with a new allocation strategy, which determines prizemoney based on each code's individual revenue less the costs they incur. This means when one code is performing well, they will directly benefit from their success and not be impacted by other codes."

The key improvements from October 1, 2014 are:

Non-Strategic Non-Tab Countryprizemoney is up 40% to $7000 perraceand Saturday Metro prizemoneyis up 37% to $65,000 per race. Strategic Country races are up 16% to $7000, and Metro midweek races up 17% to $20,000

Provincial racing enhanced throughout the state, examples of which are increases of 47% to $16,000 per race at Ipswich, 23% to $13,000 per race at Townsville and Rockhampton and 27% to $14,000 per race at Toowoomba

Once the revised QTIS scheme comes into effect, QTIS fillies will race for $78,000 to the winner at Metro meetings or $23,000 to the winner at Ipswich and $21,000 at Rockhampton.