GRV Announce Major Stake Money Boost
GREYHOUND Racing Victoria has announced a $2.84 million increase to prizemoney which will be mainly aimed towards provincial and maiden racing.
25 September 2020
VICTORIAN greyhound racing is set for a major stake money boost with Greyhound Racing Victoria (GRV) signing off on an additional $2.84 million in funding on Friday.
The additional funding, announced by GRV Chair Peita Duncan, will begin throughout Victoria from October 1 and will be largely channeled towards provincial and maiden racing.
“This increase, along with three extra race meetings which we have already introduced, will see returns to participants of more than $52 million across the year and more investment into regional Victoria,” Duncan said.
“Such an investment not only assists all our participants but also has a flow-on effect into businesses throughout regional Victoria where many of our participants work and live.
“We have 13 tracks across Victoria with 11 of these being in the regions. We employ more than 4,300 people – with most regionally based – and have more than 15,000 participants. At a time when we all need to come together as a wider community, we know this increase in prize money will have a positive impact across the state.”
Duncan added that the increases will be aimed at grassroots provisional racing and provide a further pathway towards Metropolitan racing.
“This will significantly benefit greyhounds who are starting their racing career and support more participants to race at Provincial Level 2 instead of Tier 3 racing,” Duncan said.
“Saturday twilight meetings have also been upgraded from Tier 3 to Provincial Level 2 meetings. Increasing Mixed 4/5 prize money will also deliver more returns for owners and trainers when their greyhounds are selected to compete in higher graded races.”
In making the announcement, Duncan said the significant prize money boost only strengthens Victorian greyhound racing’s future as a world leader in the sport.
“GRV is committed to increasing returns to participants across all levels of racing,” Duncan said.
“Having increased Tier 3 by $1.37 million (21.6 percent) since November 2017 we will again review Tier 3 in 2021.”