AN EXTRA $33 million will be poured into horse racing’s prizemoney pool in Victoria as Labor tries to woo voters ahead of next month’s state election.
Racing Minister Martin Pakula announced on Wednesday night $33 million would go to increasing thoroughbred racing prizemoney over two years in Victoria.
“Victorian racing is more than just the Spring Racing Carnival. This increase in prize money will help support Victorians working in thoroughbred racing in suburbs, regional cities and country towns right across the state,” he said.
The cash boost is aimed at attracting more international and interstate investment while keeping horses, trainers and jobs in Victoria.
The industry contributes $3.2 billion to Victoria’s economy, the state government says.
The top-up comes after Racing Victoria in June beefed up this year’s prize money for the Melbourne Cup to $7.3 million and raised the Caulfield Cup and Cox Plate to $5 million each.
It also added prize money to 67 country cups and other smaller races.
“Victoria has long been regarded as the premier racing state in Australia and like the Andrews Labor government we will make sure it remains number one,” Racing Victoria chairman Brian Kruger said.