Boost In Prize-Money Revealed In Horse Racing Ireland Budget For 2026

[Wandering Eyes]

Horse Racing Ireland has announced a prize-money boost of €4.2m to €74.7m as details for the 2026 budget was revealed on Friday. Equine welfare and integrity along with education and training as well as breeding and sales are other key areas that HRI has targeted for investment. 

Details of the prize money strategy will be announced early in the New Year, together with 2026 revised race values which will commence from March 1. At the heart of this strategy is the delivery of a sustainable race programme and a competitive prize money distribution model. The budgeted number of race meetings in 2026 is 390.

Meanwhile, following the recent Ministerial approval, the development of the Tipperary All Weather Track will commence early in 2026 with all-weather racing expected to commence in Q4 of 2027. This is a significant investment in the future of the racing industry. 

There is provision in budget 2026 for grant aid for capital developments in racecourses under a new scheme launched during 2025. The expectation is that HRI will fund €20m-€24m by providing 40% grant aid over a 5-year period, underpinning total capital investment of €50m-€60m by racecourses on their public facing and industry facilities.

With regards to funding towards breeding and sales, the IRE Incentive Scheme, designed to stimulate trade at Irish sales and to fortify the Irish thoroughbred breeding and racing industry is producing a significant multiplier effect in terms of investment in Irish-bred horses. In 2026, HRI will provide for €1.5m in vouchers, up by €0.2m from this year, for qualifying winners that can be spent on Irish-bred horses at Irish auctions in 2026 and 2027.

Suzanne Eade, Chief Executive of Horse Racing Ireland, said, “Although HRI's overall allocation from the Horse & Greyhound Fund remained static in 2026, the revised allocation with €2m more available for current expenditure has allowed us to progress many of the ambitious plans laid out in our Strategic Plan 2024-2028. This has been achieved by driving efficiencies within the industry's operational expenditure, allowing us to respond to significant inflationary pressures. 

“HRI has consulted with key stakeholders, owners, and racecourses in determining both prize money strategy and funding the changes for 2026. These increases in prize money are crucial to the attraction of inward investment into Irish racing, the widening of the ownership base, and the retention of both owners and horses. 

“HRI welcomes the recent approval of the Tipperary All Weather Track Development by the Minister for Agriculture, Food, and the Marine, with the work due to commence early in 2026 for completion by the end of the following year. 

“We have increased capital allocations, quite significantly, in the areas of equine welfare, in our people and their training, integrity, breeding and bloodstock sales and transformative digital and IT projects.

“These measures, we believe, will provide Irish racing with a renewed stimulus, and afford greater attention to the people employed in it and to the horses themselves. As already stated, our commitment to nurturing success and inspiring participation will continue well beyond 2026 but it is vital these next steps are taken ahead of what will be an important year for our industry.”

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