Prize money in racing has received significant boost from Levy Board
Last Updated: November 7, 2012 3:56pm
Racing: Levy Board revealed prize money boost
Significant prize money increases have been agreed across all levels of British racing for 2013.
The Levy Board's total allocation to prize money will be £50.2 million next year, markedly up from £38.9m in 2012.
The sector with the biggest increase will be in the Board's Basic Daily Rate (BDR) allocation, the main part of which will increase by £8m to £35m.
Each racecourse receives a cut of the BDR which relates to its performance in prize money contributions and how much betting turnover it generates.
There is also an increase of £1.6m in the contribution towards high-class races through the Quality Support Fund.
Also the Racing and Betting Special Incentive Fund, which saw matinee fixtures introduced this year, along with other initiatives, will continue.