Increased Contributions by Racecourses and Owners Boost British Horseracing Prize Money to £188m
- Racecourses contribute over £100m to prize money in 2024
- Owners’ contribution to prize money rises to over £25m
- Total prize money fund exceeded £188m
- Horserace Betting Levy Board offer £61m to total prize money fund
Racecourses and owners have increased their investment in prize money which has helped contribute to the total across British horseracing exceeding £188m.
The Racecourse Association (RCA) can confirm a total prize money fund of £188,032,620 in 2024 (an increase of 2% from 2023), with 54% of this figure derived from racecourse executive contributions (EC). The total EC was £100,673,329, the first time racecourses have exceeded the £100m mark. 2024 saw a total of 9,988 races run at 1,410 fixtures, a slight decrease from 2023 (10,015 races run at 1,425 fixtures).
The year-on-year analysis of EC represents an increase of 3.3% and demonstrates the commitment of racecourses to material growth in the levels of prize money for participants. Such an investment comes alongside the most significant strain on industry finances in recent memory, exacerbated by the continued economic recovery from the Covid-19 pandemic.
For racecourses, increases to National Insurance contributions and minimum wage are estimated to incur a £15m cost, whilst large-scale capital expenditure programmes continue to be scheduled; the upgrade of weighing rooms across racecourses is expected to exceed £40m in collective funding.
|
Year |
Prize Money |
Racecourse EC Contribution |
Owners Contribution |
HBLB & Other Contribution |
|---|---|---|---|---|
|
2024 |
£188,032,620 |
£100,673,329 |
£25,952,621 |
£61,406,760 |
|
2023 |
£184,331,960 |
£97,503,681 |
£24,693,378 |
£62,134,901 |
|
2022 |
£182,500,766 |
£88,888,752 |
£23,344,007 |
£70,268,007 |
|
2021 |
£148,337,274 |
£52,989,706 |
£19,121,595 |
£76,225,973 |
|
2020 |
£94,350,011 |
£25,066,161 |
£10,998,341 |
£58,285,509 |
The collective contribution of racehorse owners also increased to £25,925,621, whilst the Horserace Betting Levy Board (HBLB) contributed £61,406,760 to the total prize money fund.