THE total amount available for prize money (the stakes pot) in Phumelela racing regions in the current 2012-13 racing season is R174 million – R10.5 million or 6.4% more than last season – and this will result in stakes increasing across the board from 1 January 2013.
As always tote betting is far and away the biggest contributor to the stakes pot with R131 million (68% of the total) flowing from TAB betting on local and international races and sport (principally soccer). By comparison the contribution from bookmakers is a meagre R13 million (7%). This excludes R2.7 million derived from fixed-odds betting from Phumelela subsidiary Betting World.
The stakes pot for 2013 encompasses the Thoroughbred Horseracing Trust contribution and the usual deductions for the South African Jockeys’ Academy, riding fees and appearance money to trainers for Sunday and night race meetings.
In applying the stakes increases, Phumelela and the RA agreed the following for feature races:
* The stake of the SA Nursery (upgraded to Grade 1 status from this year) will increase from R500,000 to R1 million from 2013, as per the Phumelela-RA policy for Grade 1 races.
* On the Highveld, the stakes of Listed Races will increase from R135,000 to R150,000 and Grade 3 races from R165,000 to R175,000.
* In the Eastern Cape, the stakes of Listed Races will rise R5,000 or R10,000 to R130,000.
* In the Northern Cape, the stakes of all non-black type feature races will increase from R90,000 to R100,000.
The balance of the increase in the stakes pot will be allocated to minor races in the three regions in varying percentages with lower division handicaps enjoying a bigger increase.
Racing Association bonus-race stakes have been taken into account, as well as extra stakes arising from “split” races on the Highveld and in Port Elizabeth, in which the number of final acceptors justifies splitting a race into two events.
Full details of the increases on the Highveld and in the Eastern and Northern Cape are:
Highveld Minor Race Stakes Increase 201
MR 104
FM 100
(A Division) 110 000 115 000 4.5%
MR 96
FM 92
(B Division) 100 000 105 000 5.0%
MR 88
FM 84
(C Division) 89 000 94 000 5.6%
MR 80
FM 76
(D Division) 78 000 82 000 5.1%
MR 72
FM 68
(E Division) 64 000 70 000 9.4%
MR 68
FM 64
(F Division) 58 000 64 000 10.3%
MR 94/ FM 90 89 000 94 000 5.6%
MR 72/ FM68
(Divided Hcp) 64 000 70 000 9.4%
Pinnacle 110 000 115 000 4.5%
Conditions (X4) 100 000 105 000 5.0%
Allowance 94 000 98 000 4.3%
Conditions (X3) 95 000 100 000 5.3%
Conditions (X2) 90 000 95 000 5.6%
Progress 89 000 93 000 4.5%
Graduation 82 000 86 000 4.9%
Novice 80 000 84 000 5.0%
Maiden 75 000 80 000 6.7%
Juvenile 85 000 90 000 5.9%
Maiden Juvenile 75 000 80 000 6.7%
Prize money is determined by a stakes formula agreed between horseracing and tote betting company Phumelela and The Racing Association (RA), which represents owners, and is derived from various sources.
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