More even racing and less short-priced favourites should be prominent from September 1, when Harness Racing Victoria (HRV) will implement a revamped program that caters for four tiers of stakemoney.
After extensive consultation with stakeholders, the HRV Board revised the tiered system to feature four levels of racing, which has been welcomed by the Victorian Trainers and Drivers Association, Harness Breeders Victoria and the Victorian Harness Racing Sports Club.
HRV Chairman Dale Monteith said the revised program, which includes an additional $5000 tier of racing, had been finalised after the HRV Board listened to the key industry groups that provided valuable feedback to the Harness Racing Advisory Council.
“After considering all submissions the council provided its views on the preferred model, which was adopted by the HRV Board at its meeting last Friday,” Mr Monteith said.
“In 2016/17 HRV will distribute almost $40 million under the revised stakemoney system, which will have four tiers of stakes in addition to metropolitan racing. This is a revision of the original model HRV put forward, which had three tiers.
“The key aim of the move to a tiered stakemoney system is to create more even racing and significantly reduce the odds-on favourites, which negatively impact wagering revenue. In the current season 43.5% of races had odds-on favourites and this must change, regardless of individual outcomes, if the industry is to prosper.”
The new tiered system will align as follows:
- Tier 1 meetings: 400 races offering $10,000 prizemoney
- Tier 2 meetings: 1558 races offering $7000 prizemoney
- Tier 3 meetings: 800 races offering $5000 prizemoney
- Tier 4 meetings: 500 races offering $3500 prizemoney
Tiers 1, 2 and 3 are career penalty races and tier 4 restricted penalty races.
Mr Monteith said the system would be critically reviewed with industry participants after six months.
“This review will determine if the Board, with the HRAC’s advice, needs to take further action in the interests of the industry,” he said. “On behalf of the Board I would like to acknowledge and thank all parties for their co-operation and valuable input. This must continue into the future in the interests of putting the industry first.”
The announcement was welcomed by participants:
Victorian Trainers and Drivers Association president Lance Justice:
“Any change to a tiered system is going to be good because it gives trainers and owners the opportunity to place their horses in races they can win, and should reduce odds-on favourites because those horses will be able to chase higher stakes.”
Harness Breeders Victoria president Shannon Nixon:
“I’m really encouraged with the new format of the tiered racing structure ratified by the HRV Board.
“I think the addition of a $5,000 ‘C' class tier will provide opportunities for our members, who comprise a great number of the ownership ranks in Victoria, to race their horses for longer and with a greater earning capacity.
“I am pleased to see that access to the full Vicbred first win bonus has been preserved at current levels and commend the HRAC and HRV management on an outcome which has clearly considered input from industry participants and stakeholders.”
Victorian Harness Racing Sports Club president Emmy Mazzetti
“HRV, in consultation with all other kindred bodies, has altered the original tiered system, which now will benefit the majority of the industry.
“It will give more opportunities to lesser grade horses, which hopefully will keep owners happy, and encourage new owners to harness racing. It will also give owners a better opportunity to claim their first win bonus.”
Media enquiries:
Michael Howard (HRV Media/Communications Co-Ordinator)
t: 03 8378 0286 | e: mhoward@hrv.org.au | tw: @MichaelRHoward
