South Australian greyhound racing participants look set to benefit following the announcement this week of a rebuilding of base level stake money.
Effective from January 1, 2023, an overall stake money increase of $750,000 over a 12-month period will be equally distributed across all TAB grades and races.
“We are pleased to announce a modest increase in stake money in line with the ongoing growth that our industry is continuing to drive,” said Grantley Stevens, Greyhound Racing SA Chairman.
“We expect revenue to stabilise as we navigate a new normal and the rising cost of living which we understand is placing participants under pressure.
“GRSA is looking to continue to provide increased support at all levels of racing to ensure the best practice care for our greyhounds.”
Mr Stevens said that while the increase in base stake money levels would likely result in a reduction in monthly Wagering Activity Payments (WAP), it would provide more certainty to participants in relation to industry returns.
“The stake money increase will apply to all grades of greyhound racing in South Australia and will extend from Angle Park to regional tracks at Mount Gambier, Gawler and Murray Bridge,” he said.
And races conducted at Murray Bridge’s straight track will receive an additional funding boost – taking the total stake money increase at that track to 20 per cent.
“Murray Bridge, together with Healesville, Richmond and Capalaba, is one of just four straight tracks in Australia and we understand the importance of investing in that point of difference,” Mr Stevens said.
He said the stake money increase was reflective of GRSA’s ongoing commitment to its participants and animal welfare.
“Stake money is the lifeblood of our industry. It supports our participants and ensures confidence and growth in an industry that continues to go from strength to strength.”