Prizemoney pledge from RWWA

Racing and Wagering Western Australia (RWWA) announced on Tuesday that prizemoney and bonuses across all three codes of racing would be returned to 100%, effective from the start of the new racing season – August 1, 2020.

In April, RWWA made the decision to reduce prizemoney and associated breeding bonuses by 20% to assist in mitigating the impact of declining income as a result of COVID-19.

“Racing has been fortunate to continue operating throughout the COVID-19 period, allowing RWWA to actively support the continuation of racing at 80% of stakes levels at a time where our income was impacted by at least 50%,” RWWA Chairman Jeff Ovens (pictured) said.

“RWWA’s cost mitigating measures, along with the robust recovery of the WA TAB business with the re-opening of the retail network, and strong receipts from the Racing Bets Levy has enabled RWWA to return stakes and bonuses to their full pre-COVID-19 levels within just four months.

“With the upcoming breeding season in the equine codes it’s important that we give the WA racing industry certainty and confidence as we move into the 2020/21 season.”

The reinstatement of prizemoney and bonuses to their pre COVID-19 levels will return the equivalent of over $20 million annually to the WA racing industry.

Meanwhile, Victorian participants are still waiting to find out whether prizemoney levels in that state will be restored to pre-pandemic levels and Queensland is in the same boat.  Racing NSW was the first state to move in restoring prizemoney, announcing weeks ago that prizemoney would return to normal on July 1.