By almost any measure, there has never been so much money in racing. Returns from wagering have grown precipitously over the last decade, particularly benefitting the Principal Racing Authorities (PRAs).

Members stand at Rosehill.
The Australian Turf Club wants its members to support the sale and redevelopment of Rosehill racecourse.

In 2012/13, Racing NSW’s stated revenue/income in its annual report was $104.6 million. Ten years later in 2022/23, that amount stood at $406 million. Similarly, Racing Victoria has grown its topline revenue from $312 million to $554 million in the space of a decade. 

Comparisons between the two jurisdictions, while tempting, are difficult to make as their funding models have several major differences. However, the key similarity they do share is that both Racing NSW and Racing Victoria have benefitted from a combination of the ‘race fields’ levy and a substantial increase in thoroughbred wagering.

Over the past 10 years, thoroughbred turnover in Australia grew from $14.5 billion to $26.4 billion, fuelling a similar massive growth in prize money, which has jumped from $554 million to $1.07 billion.

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