General Prize Fund & Floodlight Fund

General Prize Fund (GPF) grants are allocated by the HBLB to racecourses each year and must be paid out as prize money to horsemen, within that calendar year and across the relevant code, in accordance with the Rules of Racing issued by the BHA.

The prize money allocation to each racecourse is calculated according to a formula based on (i) a racecourse's own Executive Contribution (EC, also known as merit) and (ii) the amount of off-course horserace betting turnover generated by certain fixtures. 

The total amount available in GPF grants for 2020 is £37.2m (2019: £37.2m).  The split of the GPF between Flat and Jump is calculated to ensure that the overall 60/40 funding split is maintained. Owing to the fact that a higher proportion than 58.4% (inc. abandonment allowance) of the non-GPF prize money funds for 2020 are likely to be related to Flat racing, this is compensated for in the balance of the GPF.

Therefore, the £37.2m GPF is allocated between codes as follows:

 

FLAT

JUMP

TOTAL

GPF Budget

£18.75m

£18.45m

£37.2m

Flat/Jump split

50.4%

49.6%

 

For 2020, 60% of the GPF has been allocated according to each racecourse’s merit performance, and 40% according to betting performance.

The betting allocation has been distributed in proportion to racecourses’ annual off-course betting turnover across all Relevant Betting Fixtures (RBFs). For the 2020 GPF allocation, each racecourse’s betting percentage will be calculated by taking an average of their betting performance across all relevant RBFs for 2017 and 2018.

Abandoned fixtures receive betting credit equal to the average betting index for a fixture of that profile, taken across the fixtures:
• Code
• Weekday (bank holidays treated separately)
• Session
• Fixture volume in session
• Terrestrial TV coverage

The exceptions are abandoned fixtures worth £500k or more, and Kempton’s Boxing Day fixture. In the case of abandonment, these would receive a historic betting index for that fixture, where possible.

Merit performance has been calculated based on the average EC committed per Relevant Merit Fixture (RMF) in 2018.

Once a racecourse’s total GPF grant for the year is determined, how much of that sum the racecourse receives for each fixture is calculated in proportion to the total value of the fixture.

Fixed payments for AWT Floodlit Fixtures

BHA Fixtures run on AWTs that have been allocated via the Floodlit pool for 2020 do not count towards merit or betting in the GPF model.  Instead they will receive a fixed payment of £12,200 (unchanged from 2019), and are committed to an average minimum EC requirement of £15,200.

Last Updated: 05 March 2020