Harness stakes up $5 million next season - with the lower classes getting the lion’s share

Harness racing stakes will increase by nearly $5 million for the 2023-24 season, the majority going to funding the lower classes.

The new budget, approved by the Harness Racing New Zealand Board, follows the historic deal between Entain and the TAB, that came into effect on June 1.

HRNZ will receive funding of $54.4 million next season - a substantial increase on previous levels.

About 71% of that funding will go directly to stakes.

It’s expected that HRNZ funding will increase for the next four years at least.

Seven stakes categories

Base funding for stakes will increase by just over $3 million with all races falling into one of seven categories.

Funding will start at $10,500 for provincial low key races to $30,000 for races at Addington during New Zealand Cup and Show Week.

The Country Cups will get an extra $5000 in stakes to reward mid-grade horses.

All Country Cups will be either $20,000 or $25,000.

Group race hike

Group races will also get a funding boost.

Group 1, Group 2 and Group 3 races will all increase by $10,000 to $110,000, $60,000 and $40,000 respectively.

The Group races will only get extra funding if they are not already at that level. This currently pertains to 68 of the 211 Group races in 2023-24 and will therefore result in an additional cost of $680,000.

The Race by Grins will get $150,000 from HRNZ (an increase of $100,000) to recognise its importance in the racing calendar.

The stake for the New Zealand Cup will increase from $631,500 to $750,000.

A full list of stakes for Group races from next month appears below.

Boost for two-year-old racing

Entain will also provide other substantial funding, including a major commitment to two-year-old racing and a two-year-old bonus scheme.

A total of $250,000 will be spent on two-year-old races in the first half of the year (January 1 to June 30) for the next two years. Beyond that it is expected to be funded by funding increases.

The funding will go to a mixture of new races and increased stakes on existing races, the full details of which are still being finalised. However, the three regions will be supported with the following:

• An open 2YO pacing race for $110,000 (Group 1)

• A fillies only 2YO pacing race for $70,000 (Group 2)

• A 2YO trotting race for $50,000 (Group 3)

A total of $1.5million will be spent on the bonus scheme to the tune of $750k per year.

A bonus will be paid to the owner ($8000) and the breeder ($4000) on a horse’s first win in a two-year-old tote race from January 1, 2024.

Entain will fund this for the first two years and HRNZ expects the scheme to be sustainable after that from additional funding.

Breeders bonuses

The current Breeder’s Incentive Scheme will be discontinued. It will be replaced with two new schemes on top of the two-year-old bonus scheme funded by Entain.

The terms and conditions for both schemes are still being finalised but will take effect from August 1.

Fillies and mares’ credit scheme

Each filly/mare who finishes top 3 in a fillies’ and mares’ only race will receive a breeding credit of $1000 for first, $300 for second and $200 for third.

The credit will stay with the mare. If she is sold in New Zealand the new owner will receive the unused credit.

If the mare is sold overseas, or the mare dies, the credit will be lost.

The credit will accumulate on every win or placing in a fillies’ and mares’ race for the entire racing career of the filly/mare.

NZ bred bonus scheme
Every horse born in New Zealand, sired by a New Zealand-bred stallion, and that stands in Australasia will earn a 10% bonus on stakes for all New Zealand races that they compete in.

The bonus will be paid to the breeder of the horse and will be paid out each year in August based on earnings from the previous financial year (August 1 to July 31).

The bonus will be capped at $10,000 per horse per year.

Some examples of eligible stallions are Lazarus, King of Swing, Tiger Tara, Royal Aspirations, Marcoola, and Skyvalley.

Regional racing fund

As part of the $54.4 million package from Entain, the HRNZ Board has approved more than $900,000 for racing initiatives across the country.

The aims of the scheme is to generate interest and enhance wagering, provide opportunities for the horse population that might not otherwise be catered for and to add value to the current racing structure.

The fund ($914,000) will be split between the Canterbury region (50%), the North Island (25%) and the Southern Region (25%). Just how the money will be spent will be decided by the respective regional programming committees, along with HRNZ.

A full breakdown of tonight’s announcement can be found here.

What the Group races will be worth from next month