$2.6-M Horse Racing Prize Money Boost Injected to South Australia
SOUTH AUSTRALIA, Australia – Rob Rorrison is the chairman of Thoroughbred Racing South Australia (TRSA). This week, he confirmed that the horse racing industry in the state would benefit from a $2.6-million cash injection. Rorrison remarked in a statement that the time is right to boost the cash prizes in South Australia because of the economic improvements and better betting conditions that his organisation had witnessed lately.
Because of the coronavirus or COVID-19 pandemic, horse racing prize money levels in South Australia became negatively impacted. However, the TRSA chairman relayed that they had observed the recent events closely, with betting revenue stabilising in the second half of 2020. Wagering revenue has reportedly improved during this period. This welcome development had taken place since the initial round of reductions in Federal COVID-19 stimulus packages such as JobSeeker and JobKeeper, as per Rorrison.
The head of the controlling organisation for South Australia horse racing said that this event had provided the TRSA with the confidence to increase the levels of cash awards back to pre-COVID-19 levels. The horse racing prize money levels are now rebounding to new highs, following the TRSA’s cash injection. Therefore, horse racing competitions in South Australia will carry greater monetary rewards starting on Tuesday, December 1, according to the report posted online by Australian horse betting news and information website, Racenet.
For maiden horse races, the metropolitan monetary awards will range from $37,250 ballooning to $52,250 for the major Saturday tilts. Additionally, provincial stakes will surge between $21,800 and $19,300 per horse racing match. Country meetings will feature cash rewards ranging from $14,800 to $16,800 per competition. Meanwhile, in each contest, city horse races will award prize money down to 10th position. The first eight gallopers home will receive cash prizes in the provincial and country competition.
Horse racing contests in South Australia has performed well to carry on largely continuous through the international coronavirus or COVID-19 pandemic. Last week, the state did not win in merely two meetings during the short-lived Adelaide COVID-19 second wave-caused lockdown. The two tilts were held on Friday at Naracoorte and Saturday at Morphettville.
Richard Jolly is the president of the South Australian Trainers’ Association. He welcomed the latest round of cash prize upgrades in his state. Jolly remarked that the new prize money arrangement would benefit racehorse trainers and owners at all levels of the sport. He cited that his organisation had sensed that the prize money increase would come, and added that they desired it to happen sooner instead of later.
The head of the South Australian Trainers’ Association affirmed that the TRSA’s cash prize lift is a huge assistance to all the people involved in South Australia’s horse racing sector. Jolly trains in collaboration with his daughter named Chantelle and he pointed out that smaller racehorse trainers would be getting help as well with the provincial cash prize among the sectors getting a raise.
Moreover, the forthcoming prize money surges have gotten well-received as they would reportedly trickle down to the horse racing industry’s bottom end. This auspicious financial event would assist the industry members in paying their bills. Jolly said that, with the latest development regarding horse racing prize money in South Australia, the racehorse owners would feel delighted and motivated to carry on racing their sprinters in the state.