“The Invitation” a New $2m Race Sets Sydney Spring Prizemoney Levels at $50m

16 Jul 21

With huge prizemoney already set at record levels, Racing NSW plan to distribute even more starting this Spring with the injection of a further $3.6 million to be won by Owners.

These latest prizemoney injections take the Everest Carnival prizemoney to a staggering $50 million, yet again proving Sydney as an elite racing jurisdiction around the world.

Once only a pipe-dream, incredibly the Sydney Spring racing program now consist of eight straight weeks of $1 million-plus races.

Where else would Owners want to have racehorses other than Sydney to access this amazing pot of riches?

Racing NSW has announced that a new race which they have named – “The Invitation”, will be run in October 2021, is headlining several additional enhancements to the Sydney Spring Racing Carnival.

With prizemoney of $2 million, “The Invitation”, is a race for Fillies and Mares over 1400m to be run at Royal Randwick on Saturday, 23 October 2021.

The field for “The Invitation” will comprise 12 starters exclusively invited by a panel convened by Racing NSW. Invitations will be extended to fillies and mares from across Australia and New Zealand. The race will run under a set-weight and penalty scale.

The Sydney Spring Carnival will also be further boosted with the following prizemoney increases for two races and the introduction of an additional two races:

- George Main Stakes rises from $500,000 up to $1 million

- Hill Stakes increased from $500,000 up to $1 million

- New 2300m handicap on The Hunter raceday with prizemoney of $300,000

- New 1000m handicap on The Gong raceday with prizemoney of $300,000

Racing NSW Chairman, Russell Balding said “As we head towards “The Everest” and “The Golden Eagle,” “The Invitation” will provide a further highlight to Spring racing in Sydney with a unique formulation of the field by invitation only.”

“The Invitation” also provides the Sydney Spring Carnival with a marquee race for Fillies and Mares.

“The addition of “The Invitation” and further targeted prizemoney increases consolidates and capitalises on the development and enhancement of Spring racing in Sydney over the past five years.

“The Hill Stakes will be run for the 100th time and it is fitting that this race be commemorated with prizemoney of $1 million where we are confident of attracting some of the best middle-distance horses in Australasia.

“Further, running the George Main Stakes at $1 million recognises this race in its own right and also provides a superb progression for horses stepping up in distance to 2000 metres or contesting the Epsom for record prizemoney in 2021,” Balding added.

The Minister responsible for Racing Kevin Anderson MP, said: “The Invitation” is another exciting development in the Sydney Spring.

“As Minister responsible for Racing, I’m extremely proud to oversee the significant growth of the NSW Thoroughbred Racing Industry both in popularity and profile in the past few years. Its growth is nothing less than extraordinary, however, as this announcement has shown, its even going to get better,” Anderson added.

Australian Turf Club Chief Executive, Jamie Barkley said: “The introduction of “The Invitation” and other strategic prizemoney increases to traditional races has significantly added to the Sydney spring racing program, which will now host an amazing eight straight weeks of $1 million-plus races.

“These enhancements will take the Everest Carnival prizemoney to a record $50 million, again proving Sydney is among the leading racing jurisdictions in the world. ATC welcomes the increase to the George Main Stakes and the Hill Stakes, races which will attract the best horses in the country to Sydney.

“This maintains Sydney’s foremost position in delivering high value world-class races to our owners and participants. This period is Sydney’s time to shine in spring with a globally recognised racing carnival,” Mr Barkley concluded.

However, it’s not all about the glamour of Spring carnival races, as record prizemoney has been established across the board in NSW.

Below is what racehorses compete for across NSW:

A standard Sydney Saturday race at any stage of the year is worth $130,000 with $61,250 to the Winner plus, if the Owners horse is BOBS eligible an additional $20,000 in cash or $38,500 in BOBS Vouchers is added (owners’ choice) is won.

So that’s $81,250 Cash Prizemoney or $99,750 in Cash and BOBS Vouchers.

Further on Sydney Saturday’s prizemoney is paid down to tenth place where Owners receive $3,500.

Sydney Midweek Metropolitan races are worth $50,000 with $22,000 to the Winner plus if the Owners horse is BOBS eligible a $10,000 BOBS bonus in cash or $19,250 in BOBS Vouchers (owners’ choice).

Further on Sydney Midweek Metropolitan races prizemoney is paid down to tenth place where Owners receive $1,500.

NSW Provincial races are worth $35,000 with $16,740 to the Winner plus if the Owners horse is BOBS eligible a $5,000 BOBS bonus in cash or $9,625 in BOBS Vouchers (owners’ choice).

Further on NSW Provincial races prizemoney is paid down to tenth place where Owners receive $1,000.

Country TAB races are worth $24,000 with $12,280 to the Winner plus if the Owners horse is BOBS eligible a $5,000 BOBS bonus in cash or $9,625 in BOBS Vouchers (owners’ choice).

Further on NSW Country TAB races prizemoney is paid down to tenth place where Owners receive $725.

Therefore, even if your beloved horse doesn’t quite reach the top racing grade like a Winx, Owners with BOBS horses earn for a Country Maiden Win $17,280 cash or a massive $21,905 when combining Cash and Vouchers.

Whilst after purchasing a 5% Share, the ongoing holding costs (training etc.) incurred to Own your Share in your racehorse averages out over a year to $10 per day ( equates to $305 per month / equates to $3,650 per annum).

Thoroughbred prices are surging in the open market based on supply and demand for high quality horses to target these racing riches. So, the prices of racehorses, just like the Sydney property market, is on a steep rise.

There has never been a better time to own a share in a racehorse than right now!

Horses and therefore Share prices will be more expensive in 2022.

With so much money on offer, when you own a top-class racehorse, an Owner of a 5% share could Win enough to change your address or contribute handsomely to your retirement fund.

Importantly, most Owners in racing are classed as a Hobby Owner, so prizemoney won as a Hobbyist is Tax Free!