Prizemoney for NSW Greyhound Race Meetings Increased!

Posted by Mary in Greyhound Betting News on 12 4th, 2008 | no responses

There’s a good news for enthusiasts of NSW greyhound race meetings. The prizemoney levels for greyhound race meetings in New South Wales will substantially increase. Along with this, a new premium Saturday night metropolitan meeting was introduced.

Starting January 1, 2009, the increase will take effect at TAB and Non-TAB level and starting February 1, 2009 will be then on at Wentworth Park Saturday night meetings. The increases will actually inject $3.5 million per annum into the prizemoney pool which will create a premium metropolitan race night (Saturday night). This all will then take prizemoney to a level which compares favorably with other states.

Chairman of the Board of Greyhound Racing NSW (GRNSW), Professor Percey Allan Am, believes that the increase is an excellent result. Professor Percey has said, “the Board’s vision is to be Australia’s premier supplier of greyhound racing product and is focused on long-term sustainable growth that will drive increased prizemoney returns to participants.” In addition, “the advent of the Race Fields legislation and the resultant income stream has allowed the Board to achieve the prizemoney increase in a fiscally responsible way that will benefit the whole industry.”

Basically, the increase will be more on the TAB sector. GRNSW ended up on this to raise graded prizemoney levels to a comparable rate to that which is on offer in Victoria and also to assist with grassroots racing by an increase in funding to the country sector.

The increase in prizemoney is indeed a very good news that will be warmly welcome by participants in 2009. However, GRNSW Chief Executive Brent Hogan still have a warning to everyone. Despite the increase, the industry still has a lot of challenges to face. According to Hogan, “technology and competition are changing the racing and wagering environment dramatically. When combined with the current global economic downturn, immense pressure is being placed on TAB distributions received by the greyhound industry, our traditional and most significant revenue stream.”

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