Chief Stipe Posted July 20, 2023 Share Posted July 20, 2023 2023/24 Funding Summary On behalf of the Board and management, we are pleased to provide you with a copy of the 2023/24 Funding Summary [click on this link]. In summary: Harness racing stakes will increase by nearly $5m for the 2023/24 year. The new budget, approved by the Harness Racing New Zealand Board, follows the historic deal between Entain and the TAB, that came into effect on June 1,2023. HRNZ will receive funding of $54.4m next season - a substantial increase on previous levels. Around 71% of that funding will go directly to stakes. Entain will also provide other substantial funding, including a major commitment to two-year-old racing and a two-year-old bonus scheme. Base funding will increase by just over $3m with all races falling into one of seven categories. Funding will start at $10,500 for Provincial Low Key races to $30,000 for races at Addington during New Zealand Cup and Show Week. The Country Cups will get an extra $5,000 in stakes to reward those mid-grade horses that are so important to the sport. Group races will also get a funding boost, up $10,000, and the Race by Grins, our richest race, will get $150,000 from HRNZ (an increase of $100,000) to recognise its importance in the racing calendar. In addition to that the stake for the NZ Cup, our most prestigious race, will increase to $750,00 (from $631,500). Kind Regards Phil Holden & Gary Woodham Copyright (C) 2023 Harness Racing New Zealand. All rights reserved. Quote Link to comment Share on other sites More sharing options...
Chief Stipe Posted July 20, 2023 Author Share Posted July 20, 2023 You heard it here first. Quote Link to comment Share on other sites More sharing options...
mikeynz Posted July 20, 2023 Share Posted July 20, 2023 Where is all this money coming from or where will Entain recoup its spending spree? Quote Link to comment Share on other sites More sharing options...
Brodie Posted July 20, 2023 Share Posted July 20, 2023 48 minutes ago, mikeynz said: Where is all this money coming from or where will Entain recoup its spending spree? Entain did say they were putting millions into racing for a few years which was the carrot for NZ TAB! Crazy, as they now have 25 year hold on so much of NZ gambling! It is the sports betting they were after! 1 Quote Link to comment Share on other sites More sharing options...
mikeynz Posted July 20, 2023 Share Posted July 20, 2023 Always thought sports betting money went back to sports, not racing. Easy to criticise sports tagging on to TAB but you won't attract new customers without it. Quote Link to comment Share on other sites More sharing options...
the galah Posted July 21, 2023 Share Posted July 21, 2023 (edited) 5 hours ago, mikeynz said: Always thought sports betting money went back to sports, not racing. Easy to criticise sports tagging on to TAB but you won't attract new customers without it. The tab attracting new customers and the tab attracting new customers to betting on racing are two different things. The TAB in their latest annual report predicted this... revenue in 2023 improves compared to 2022 due to growth in sports betting and a return to full operation of retail sites. Revenue performance through to year 2025 reflects continued growth in sports betting whilst other revenue items(racing) remain broadly stable. ...so clearly the tab doesn't believe attracting new customers will lead to an increase in new customers for horse racing. When they sell the "getting new customers who bet on sports,will see some bet on racing",they never also point out that the more sports betting is promoted the more likely those who bet on horse racing will spend some of their betting $ on sports.It works both ways. If you look at the stats they say worldwide,sports betting makes up 30-40% of all gambling. Now,sports betting is mostly done on line,certainly far greater than racing.The area where its recognised the greater % of problem gambling comes from is on line gambing. Thats why when you hear the government talk about taking steps to limit gambling harm,you have to take that with a grain of salt. As after all,they are quite happy to allow the likes of the nz tab go down the path of promoting growth in on line betting through their deliberate policies. Also the stats say those who bet mostly on racing are aged over 45,whereas those who bet on sports are aged under that,especially in their 20's. Now given the growing area of problem gambling is in the younger age bracket,then it just makes sense that there is a direct link to sports betting creating greater problem gambling.The point i'm making is the tab and the government say one thing but in reality do another when it comes to gambling harm.Its all just hot air to me when you look at the stats. Edited July 21, 2023 by the galah 1 Quote Link to comment Share on other sites More sharing options...
the galah Posted July 21, 2023 Share Posted July 21, 2023 (edited) Reading the breakdown of the new increase in funding,it seems increases in stakes aren't necessarily guaranteed in all races.. It seems to be up to be the clubs how they use the funding. For example it says a club could run a several $9,000 races and use the increase funding to increase the stake of a couple of higher class races they run on the day.Lets hope clubs spread the increase amongst everyone and not just a couple of races. The bit i like is the breeders bonus. It says every time a filly or mare run in a race restricted to fillies and mares they earn a credit if they run in the first 3 and that credit can be used by that mare when she is bred. $1000 for first,$300 2nd,$200 third.The exact cost of that funding may be a little hard to predict,but it seems worthwhile as long as clubs run those type of races for the lower grades so the grass roots owners get some benefit. After all,they are the ones that need encouragement to breed. It also has a bit which rewards those whohave bred to nz bred stallions,although there aren't many of them around. Edited July 21, 2023 by the galah Quote Link to comment Share on other sites More sharing options...
the galah Posted July 21, 2023 Share Posted July 21, 2023 Actually,to put some perspective on the stakes increase side of things. It was only 7 months ago they reduced stakes by 10%. So in reality the stakes won't be much more than they were last year. 1 Quote Link to comment Share on other sites More sharing options...
With A Dream Posted July 22, 2023 Share Posted July 22, 2023 On 21/07/2023 at 2:02 PM, the galah said: Actually,to put some perspective on the stakes increase side of things. It was only 7 months ago they reduced stakes by 10%. So in reality the stakes won't be much more than they were last year. I think the announcements of stake increases are largely based on what they were before the reduction. For example the group 3 races traditionally had a $30k min. That was reduced some months ago to $27.5k. The new minimum is $40k I believe so the announced 10k increase is on the original amount. The minimum overall stake is $11.5k from memory so that is good. Not sure how it will effect say the rating 50 - 80 races. They may be the ones to miss out. Will just have to wait and see how it plays out. Quote Link to comment Share on other sites More sharing options...
the galah Posted July 22, 2023 Share Posted July 22, 2023 (edited) 4 hours ago, With A Dream said: I think the announcements of stake increases are largely based on what they were before the reduction. For example the group 3 races traditionally had a $30k min. That was reduced some months ago to $27.5k. The new minimum is $40k I believe so the announced 10k increase is on the original amount. The minimum overall stake is $11.5k from memory so that is good. Not sure how it will effect say the rating 50 - 80 races. They may be the ones to miss out. Will just have to wait and see how it plays out. If you look at it from the point of view of the person with say a non win horse. Take a club like westport who would be classified as running low key meetings. Last year at christmas their non win races were run for the then required minimum of $10,000. Then they dropped to $9,000 for their march meeting because the stakes funding was cut by 10% just after christmas. Now it says they will be funded for $10,500. So in reality they have gone up $500 since the end of last year. That is assuming the club doesn't put the extra $500 into a higher class race on the day,which it says any club can. Some of the standard provincial meetings will get a $1,500 increase,but again it seems up to the club whether they put that to the non wins or whether they use it to put the stake of the higher class race on the day up.Again the stakes may not increase much,depending on which races they put the increase into. Thats what it says on the hrnz website. So in reality any increase is good,but nothing to get too excited over. Edited July 22, 2023 by the galah Quote Link to comment Share on other sites More sharing options...
With A Dream Posted July 22, 2023 Share Posted July 22, 2023 Will be interesting to see how it plays out then. You are right that different clubs may have different approaches. Quote Link to comment Share on other sites More sharing options...
the galah Posted August 1, 2023 Share Posted August 1, 2023 (edited) On 21/07/2023 at 4:02 PM, the galah said: Actually,to put some perspective on the stakes increase side of things. It was only 7 months ago they reduced stakes by 10%. So in reality the stakes won't be much more than they were last year. So if you look at the stakes being paid out by clubs who have received the extra funding its pretty obvious some clubs have not passed on the extra funding in most of their races. Take the races at addington on sunday. Most of the races are being run for $10,000 The hrnz model which said the stakes would be increased, referred to the provincial standard meetings getting $11,500 per race. So in effect thats $1500 per race the club isn't passing on. ($12,000 for the whole day). Furthermore,the stakes are just the same as they were at the end of last year. The meeting on friday at addington i assume is classed as a metro 2 meeting(the lower funded of the metro meetings according to the hrnz model) For that the clubs are funded $15,000 a race. Yet most races are only being run for $13-14,000. Overall $8000 less being paid out than they are funded. Compare that to aucklands next thursday meeting. Auckland has passed on the extra funding. Ashburton the same with their stakes- $10,000. Methven have increased their stakes to $11,000. Winton intend paying mostly stakes of $12,000. So like we have seen before,these supposed stakes increases often never materialise. Its all just hot air for some clubs and for other clubs,they are doing their best to pass on the increases. This week,Addington have no one to compete against to attract horses as the only 2 meetings in the whole of the south island are at addington. Thats why they know,well if you don't race here,you can't race anywhere else ,so we will take a bit of your money and probably put it into the higher class races down the track. If history is anything to go by,addington will only pass on the extra funding when they have to compete against other canterbury clubs running meetings the same week. Edited August 1, 2023 by the galah 1 Quote Link to comment Share on other sites More sharing options...
With A Dream Posted August 1, 2023 Share Posted August 1, 2023 3 hours ago, the galah said: The meeting on friday at addington i assume is classed as a metro 2 meeting(the lower funded of the metro meetings according to the hrnz model) I guess so. It is confusing because the program doesn’t state what type of meeting it is. I note the minimum stake on Friday is $13k and assumed that would be the minimum amount for Friday night meetings, but now I see the meeting on Friday 18th August has some $12.5k races. Addington seem to be all over the place with their stakes while you are correct, Auckland seems to be passing the increases on in a more transparent way. 1 Quote Link to comment Share on other sites More sharing options...
With A Dream Posted August 1, 2023 Share Posted August 1, 2023 Also the National meeting on 11th August - The National Pace is for R60+ and only has a stake of $16.5k. I checked and it is an increase on last year but it wasn’t that long ago that those higher rated races at Addington were run for $17.5k. I do think there’s smoke n mirrors going on. Some races at Addington seem to have had stake decreases while others have gone up. It’s very hard to work out how much Addington have really increased stake money. 1 Quote Link to comment Share on other sites More sharing options...
Doomed Posted August 2, 2023 Share Posted August 2, 2023 On 8/1/2023 at 7:39 PM, With A Dream said: Also the National meeting on 11th August - The National Pace is for R60+ and only has a stake of $16.5k. I checked and it is an increase on last year but it wasn’t that long ago that those higher rated races at Addington were run for $17.5k. I do think there’s smoke n mirrors going on. Some races at Addington seem to have had stake decreases while others have gone up. It’s very hard to work out how much Addington have really increased stake money. My god! The National and the Louisson used to be the two big early season races in the South. I recall Our Mana winning one and all the open pacers used to resume in those races. $16,000 these days. How sad is that. 2 Quote Link to comment Share on other sites More sharing options...
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