Strong wagering revenue for the 2022 calendar year has resulted in Greyhound Racing SA (GRSA) announcing that a $1m Industry Performance Reward Payment (IPRP) will be made to participants on January 30, 2023.

The payment comes on the back of the recently announced 7.5 per cent increase in prize money from January 1, 2023.

“This one-off payment reflects another strong year of wagering activity and is designed to maximise those returns to our industry,” GRSA Chair Grantley Stevens said.

He said GRSA expected wagering to re-calibrate lower in 2023 and beyond as punters navigate the rising cost of living and re-prioritise their expenditure.

“Our recently announced increase in base prize money across the state was designed to rebuild a foundation for participants. This will provide greater certainty as we navigate a new normal that will likely see fewer of these additional payments generated.

“IPRPs are an additional form of stake money on top of this base level but should be treated in the same way – that is, distributed accordingly between trainers and owners.”

The IPRP will be distributed in direct proportion with Wagering Activity Payment (WAP) distributions across the 12 months spanning January 1, 2022 to December 31, 2022.