Greyhound Racing Victoria’s (GRV) Board has budgeted for the record expenditure of $58 million in prize money for Victoria’s greyhound racing program in 2021-22, GRV’s Chair, Peita Duncan announced yesterday.
The record prize money pool, which is an increase of approximately $6 million on the current year’s expenditure, will cover 26 race meetings per week including:
- Continuation of initiatives such as the Pink Diamond Series breeding incentive payments ($790,000);
- Increase for distance races ($900,000);
- Increase in Provincial Stakes of $2.8 million; and
- Increase for $1.46 million for Level 3 Racing (including Tier 3).
This prize money increase also funds new metropolitan racing initiatives such as the inaugural $1.1 million Phoenix slot race to be held at The Meadows in December.
Ms Duncan suggested the announcement is great reward for participants, “The prize money increases we announce today benefit all our hard-working participants across Victoria at every level of racing. It gives back to those trainers, breeders and owners who help to make our sport the leading greyhound racing code not only in Australia but in the world.”
“It’s about making sure that all participants, especially those with small to medium sized racing operations, can continue to thrive and invest in their dogs and facilities.”
“Funding new initiatives for our metropolitan racing program will not only provide more support for participants but also increases the sport’s appeal for both current and new fans and offers more wagering opportunities.”
Ms Duncan said the increase has come about as a result of increased interest in greyhound racing.
“We are able to increase prize money because of a very strong wagering performance over the past year and a strategic focus to ensure that GRV as an organisation can deliver growth for the future success of the sport.”
“We are continuing to build a fit for purpose organisation where we develop new skill sets, deliver more services through automation and digital platforms, and bring our customer, commercial and marketing business areas further into the digital age, all while creating an easier to do business service delivery model.”
“These changes will lead to a reduction in administrative costs of at least $1.5 million over the next 12 months and ensures that GRV can continue to deliver for participants whilst maintaining our focus on integrity and animal welfare outcomes.”
Victorian greyhound racing prizemoney