U.K. Jockey Club Says Prize Money Will Increase to $70 MillionAlex Duff
The Jockey Club, the biggest commercial group in U.K. horseracing, said prize money at 15 racecourses it operates will increase by a projected 3.6 percent to 42.8 million pounds ($70.2 million) in 2014.
The organization, which was founded in 1750, said it expects to add an extra 1.1 million pounds to the prize fund, contributing 46 percent of the money. The rest comes from a betting levy and entry fees.
By increasing prize contributions, the Jockey Club is attracting bigger race fields than the industry average, according to Managing Director Paul Fisher. The venues it manages include Aintree, Cheltenham and Newmarket.
“The evidence shows our prize money contributions are paying dividends,” Fisher said in a statement.
The average flat-racing field at the Jockey Club’s courses was 9.9 in 2012, compared with 9.6 for the industry, the organizer said in the statement. Its average jump-racing field was 9.5 compared with 8.9 for the industry.