Thursday 20th December 2012
Prize Money Boost for Sunday Racing
As part of the Horserace Betting Levy Board’s £11m increase in prize money allocation next year, a new initiative to boost Sunday fixtures has been launched following a proposal from the Board’s Betting Patterns Working Party (BPWP).
The Levy Board will offer a £5,000 supplementary prize money payment to fixtures on Sundays which offer prize money of at least £40,000 at the Programme Book stage around three months before the fixture. The £5,000 will then be added to the value of the advertised card when it is finalised.
The aim is to provide an incentive for racecourses to invest in their Sunday race programmes, so as to raise the quality of Sunday racing and provide a potential uplift in betting turnover levels on that day, which remains the lowest performing of the week.
The total cost of the initiative for the full year is estimated at £330,000, which will be provided from the Levy Board’s Racing and Betting Incentive Fund. This fund was created in 2012 to support schemes to benefit both racing and betting. In 2013 this fund will also support the continuation of the Interactive Race Planning initiative for a further year, providing prize money of around £200,000.
Levy Board Operations Director Alan Delmonte said:
“There has been wide support for looking to improve the quality of Sunday programmes and this new targeted fund is intended to help achieve that. Consultation among racecourses suggests that a number will look to enhance their programmes as a result of the extra funding. Bookmakers will assist us in assessing the extent of any changes in betting turnover over the course of the year.”