GRV Roll Out Major Stakes Boost From October
VICTORIAN metro and provincial prizemoney will increase 12 per cent as part of the $5.3m stakes boost unveiled by Greyhound Racing Victoria.
15 September 2021
VICTORIAN metropolitan and provincial prizemoney will increase 12 per cent as part of the $5.3m stakes boost unveiled by Greyhound Racing Victoria (GRV).
From October 1, base prizemoney for all metro and provincials events will receive the hike while fourth placed stakes will also begin being paid.
The decision on how to apportion the recently agreed prizemoney surge comes following an extensive industry survey where the thoughts on stakeholders were canvassed.
“The GRV board’s decision follows consideration of 1866 responses to a survey delivered to more than 6500 participants seeking their preferences in relation to four packages for prize money distribution,” explained GRV Chair Peita Duncan.
The board agreed unanimously to support package three which reflected the position of the majority of participant responses.
“The GRV board is committed to progressive quarterly prizemoney reviews, dependent on revenue outcomes during the year,” Duncan said.
“Last month it was decided that revenue increases could support a $5.3 million increase for FY22, on top of a previously announced $6 million prize money increase.
“This brings the total Victorian prize money pool for FY22 to a record $63.3 million – the largest greyhound racing prize money pool in the world.
“This is a huge boost for our sport and a win for our dedicated participants who continue to maintain racing during the COVID-19 period.
“The process has been a resounding success and shows the extent to which GRV and participants can work together to keep our sport great.”
Duncan added that the consultative process that supported the prizemoney decision would be a way in which GRV will engage directly with participants in the future.