GRV Begins Consultation Over Prizemoney Boost
GRV has commenced consultation with participants about how the recently announced $5.3m prizemoney increase will be distributed.
1 September 2021
Greyhound Racing Victoria (GRV) has commenced consultation with participants about how the recently announced $5.3m prizemoney increase will be distributed throughout the industry.
On Friday, GRV CEO Alan Clayton announced the significant stakes increase following weeks of robust discussions with the Victorian Greyhound, Owners, Breeders & Trainers Association (GOTBA).
And now the governing body has launched an industry-wide survey which gives participants a direct say on how the stake money splurge will be apportioned.
“Each year the Board reviews the prize money on a quarterly basis and at its meeting last Friday agreed to increase the pool by another $5.3 million which is a great result for all involved,” Clayton said.
The recent prizemoney increase will take Victoria’s total stakes pool for the 2021/22 racing season to a staggering $63.3m which is the highest annual spend in the sport’s history.
“And now we are going directly to the participants with four various packages to gauge their views on how the money could be best spent,” he said.
All packages include a 12 percent boost to Metro and Provincial prizemoney, with participants having a choice of different options making up each package.
While predominantly directed to Metro and Provincial racing, the prizemoney options packages will have benefit to participants at all levels.
“We want to consult more directly with all participants on matters that directly affect them, with prize money being the first area for direct consultation in the new way forward,” Clayton added.
“I urge every participant to complete the survey so GRV can tailor a final package that reflects the general preference of all participants.”
The ability to bankroll the recent prizemoney rollout comes on the back of the industry continuing to experience never-before-seen wagering activity.
“The most recent boost complemented very significant recent prizemoney increases that now total $17.3 million,” Clayton added.
“These include a $6 million increase last financial year that took the pool to $52 million, followed by an already announced further $6 million this financial year taking the pool to $58 million.
“This boost is in line with GRV’s ‘one industry’ strategic direction and objective to increase returns to participants to give them future confidence in the industry and boost its growth.
“We thank participants, and GOTBA in particular, for their contribution to this latest prizemoney boost.”