More Prize Money for Placed Horses in Britain
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Photo: Edward Whitaker/Racing Post
Racing at Newmarket
Placed horses in non-pattern races are to receive an increased share of prize-money in Britain from March 27 following a change in the distribution structure confirmed by the Racehorse Owners Association.
The allocation of funds has been changed so that a second-place horse will receive roughly half of the prize-money allocated to the winner, and the third- and fourth-placed horses get half of the sum gained by the next-best finisher.
Under current British Horseracing Authority rules, connections of the second-place horse typically get around 16% to 17% which will increase to around 25% to 26%. Third-place finishers are up from eight to 13%, and fourths up to 5% from four.
Remaining prizes below this, if offered, would typically be an agreed appearance fee of £350 for jumps and £300 on the flat.
The changes mean placed horses will pick up an additional £7.5 million from prize-money a year, which would have been given as winnings, and comes following an industry-wide review into prize-money distribution. The move is hoped to better support the grassroots level of the sport.
Percentage earnings of jockeys will remain the same with the amendments to apply to owners, trainers, and stable staff. It will come into force this weekend having been agreed by the Horsemen's Group and having been given approval by the BHA board.
Charlie Liverton, chief executive of the ROA, said: "Prize-money is a huge, long-term challenge for owners and racing, and these changes are being made following feedback and consultation with owners.
"With the impact of COVID on racing, the ROA are working hard with industry colleagues to retain and attract owners and improving prize-money distribution is a key part of that.
"Prize-money distribution has always been a frustration for owners, whether it was the complexity of the system or the levels generally. The changes deliver what owners want: simplicity and fairness. Put simply, more owners can access a larger share of the prize-money now. This improves earnings across the sport and enhances funding to the middle and lower tiers."