GRSA announces prizemoney increases
Media Release
Friday 2 December 2022
Greyhound racing in South Australia will benefit from a return to pre-COVID prizemoney levels following an overall stake money increase of 7.5%, equally distributed across all TAB grades and races.
Effective from 1 January 2023, the increase will total $750,000 over a twelve-month period, rebuilding a foundation of base level prizemoney across the industry.
“We are pleased to announce a modest increase in prizemoney in line with the ongoing growth that our industry is continuing to drive,” GRSA Chair Grantley Stevens said.
“While revenue remains consistent post-COVID, we expect this will stabilise as we navigate a new normal and the rising cost of living.
“We understand participants are feeling the pressure of those rising costs and we wish to continue to provide this increased support at all levels of racing to ensure best practice care for our dogs.”
While the increase in base stake money levels will likely result in a reduction in monthly Wagering Activity Payments (WAP), it will provide more certainty to participants surrounding industry returns.
The prizemoney increase will be felt across all grades of greyhound racing in South Australia and will extend from Angle Park to regional tracks at Mount Gambier, Gawler and Murray Bridge.
Races held at Murray Bridge’s straight track will enjoy an additional funding boost, taking the total prizemoney increase at the track to 20%.
“Murray Bridge is home to one of just four straight tracks in the country, and we understand the importance of investing in that point of difference,” Mr Stevens said.
“Straight track racing continues to gain in popularity and Murray Bridge is a model for this form.”
Mr Stevens said the prizemoney increase was reflective of GRSA’s ongoing commitment to its participants and animal welfare.
“Prizemoney is the lifeblood of our industry; it supports our participants and ensures confidence and growth in an industry that continues to go from strength to strength,” he said.
“While the Board has been mindful to ensure this increase is reflected at all grades and TAB tracks in South Australia, our state’s prizemoney remains well behind our interstate counterparts.
“Without continued reinvestment, we risk losing that momentum as well as the vibrant communities and thousands of jobs created by this important industry.”
Media enquiries: Alexandra Green, Michels Warren PR
[email protected] or 0418 608 038