GRSA Increasing Stakemoney from July 1st
Greyhound Racing SA (GRSA) is pleased to announce the following changes to stakemoney which will take effect from 1 July 2021.
Base stakemoney to increase by 9% across Category 1, Category 2 and Category 3
The consistent feedback received from participants in relation to the Wagering Activity Payments (WAP) model and stakemoney more generally has been a strong preference for higher base prizemoney (weekly) payments in exchange for lower monthly WAPs. Accordingly, GRSA will increase base stakemoney by 9% across all three racing categories. Importantly, the WAP model will remain in place and participants will be guaranteed to receive 50% of net wagering revenue. A link to the updated stakemoney levels for the different classifications and grades is provided on the link below:
Participants should note that the increase in base stakes is coupled with an expectation that wagering revenue will reduce in the coming financial year. The combination of these two factors will most likely result in some months of the year where WAPs are very low or potentially zero. GRSA is forecasting total WAP payments for the year being $500,000 (and accordingly an average monthly payment of approximately $40,000). These lower payments are not a sign that the system is faltering. Participants will continue to receive 50% of net wagering revenue, but in a time where net wagering revenue is expected to taper.
Feature races will be increased by $297,000
Of the total increase to feature races, $231,000 is a re-instatement to pre-COVID levels (which were reduced in April 2020).
An additional $66,000 is being added to the feature race prize pool in further support of participants in South Australia. The following feature races will be increased as follows:
· Adelaide Cup
$100,000 to the winner with corresponding increases to placegetters.
This change is one being advocated by Greyhound Clubs Australia for all Group 1 races and GRSA is adopting this change on expectation that it will become the norm in any case across the country.
· All races listed below
$10,000 to the winner with corresponding increases to placegetters.
· Champion Puppy
· Kates A Scandal
· State Sprint & Distance Finals
· Bayroad Queen
· Premiers Cup
· Shane McQueen Memorial
· Adelaide Cup Consolation
· Leigh Rogers Memorial
· SA St Leger
· Doug Payne Memorial
· Murray Bridge Straight Track Cup
During July and August, the Chief Executive Officer and Chief Operating Officer will visit Clubs to provide more information in relation to these changes and to allow participants an opportunity to ask questions.
For any media enquiries, please contact:
Matthew Watson – Greyhound Racing SA Marketing Manager
08 8243 7100