The regulator of the Tasmanian racing industry hopes to incentivise reinvestment in its local thoroughbred population with an additional $1 million and a raft of initiatives aimed at the state’s owners, trainers and breeders.
The TasBred scheme’s prize money pool will increase to $2.15 million from November 1, with the $20,000 bonus prize money per race to be rolled out on all two and three-year-old handicaps, select maiden and class one races and other selected feature races.
During Tuesday’s announcement, Tasracing also revealed that the current age restriction on horses would be removed, meaning any eligible maiden winner would receive the TasBred bonus.
Selected TasBred-nominated maiden-only races will also be scheduled throughout the season on feature race days.
In further enhancements, trainers of Tasmanian-bred horses who win the $1000 trainers’ component of the TasBred bonuses will now also be able to exchange the cash amount for an inflated figure to be used as credit at the Magic Millions Tasmanian Yearling Sale or on stallion service fees for locally-based sires.
The $4000 inducement is similar to Victoria’s VOBIS voucher scheme and NSW’s BOBS double up, which can be used by owners and trainers to pay for stallion service fees or to buy horses at certain yearling sales.
Other initiatives announced on Tuesday by Tasracing and the state government, which has committed $300,000 to the increased TasBred scheme, include:
- Magic Millions committing to conducting the Tasmanian Yearling Sale until at least 2030, extending the partnership for a further five years;
- Microshare syndicator MyRacehorse vowing to buy a yearling at next year’s Magic Millions Yearling Sale at Quercus Park, with the horse to be trained in Tasmania; and,
- The Magic Millions 2YO Classic and 3&4YO races being transferred from Launceston and run at Hobart’s Elwick racecourse on Tasmanian Derby day next year.
Magic Millions managing director Barry Bowditch, who was in Tasmania for the announcement, is confident that the new initiatives and enhanced breeders' bonus scheme would help stimulate the state’s stagnant local thoroughbred industry.
“I’d like to congratulate the Tasmanian government and Tasracing for the initiative and obviously putting that multiple on the reinvestment through either the sale or service fees is fantastic,” Bowditch told The Straight.
“It gives the local industry here more viability, more sustainability, more reason to invest in their own product and to come to the yearling sales and support the local stallions.”
Armidale Stud’s David Whishaw, who will stand first-season sire Bodyguard this season, welcomed the injection of money into the TasBred scheme.
“TasBreeders had a vision to grow the TasBred bonus scheme to include a $20,000 bonus on every maiden in Tasmanian, and it is excellent to see Tasracing partner with us to now achieve that vision,” Whishaw said.
“We want to support and reward those who breed, buy and race the local product, and we’re certain that extending the TasBred bonus to every maiden race is a big step in the right direction.”
Bowditch says Tasmanian breeders need certainty to allow them to continue to stand stallions and invest in broodmares and he is confident that Magic Millions extending its contract to run the yearling sale in conjunction with Tasracing goes some way to doing that.
“We think with significant support from the local breeders, we can continue to grow this sale,” he said.
“We want to see more people racing horses here in Tasmania and buying horses here from the Tasmanian sale.
“On top of that, we want this to have quality yearlings that the mainland buyers and traders want to come to Tasmania for each and every year and purchase.”
The much-needed boost to the local thoroughbred sector through the initiatives announced on Tuesday threatens to be overshadowed by a crisis engulfing the Tasmanian racing industry in which two stewards have been stood down pending an investigation for allegedly placing bets on races.
The ABC reported on Tuesday that up to five stewards allegedly bet on races including chief thoroughbred steward Michael Castillo, who denied the accusations to the media outlet and claimed he would be cleared of wrongdoing.
The dark cloud hanging over Tasmania’s racing integrity department comes just weeks after returned Liberal Premier Jeremy Rockliff said his government would defund the state’s greyhound racing industry from 2029.
Tasracing chief executive Andrew Jenkins, Bowditch, MyRacehorse’s Ben Willis and Whishaw, who hosted the press conference at his family’s Armidale Stud at Carrick, fronted the media with journalists questioning the principal racing authority boss about the betting scandal.
Jenkins told the media he could not comment on the status of individuals’ employment when specifically asked about the ongoing integrity matter.
Meanwhile, Bowditch also confirmed to The Straight that Magic Millions had agreed to move its sales-restricted Magic Millions races from Mowbray to Elwick to coincide with Tasmanian Derby day on Friday, February 6.
The race day also coincides with a Carbine Club event in Hobart, which Bowditch hopes Magic Millions and the Tasmanian racing industry can capitalise on by showcasing what the sport has to offer to the state’s business and community leaders.
Bren O’Brien
“We thought by moving our races to Hobart and engaging with the capital city in this state and trying to create a really strong vibe on Tasmanian Derby day for Magic Millions, it was something that may grow our brand and also show what racing in Tasmania is about from a Magic Millions perspective,” he said.
“We're looking forward to giving Hobart a go and we think it's a good step forward and we're looking forward to engaging with key stakeholders in the state and making sure everyone's there on Tasmanian Derby.”
Denise Martin’s Star Thoroughbreds and Joe O’Neill’s Prime Thoroughbreds have been long-time supporters of the Tasmanian industry and Bowditch believes the addition of MyRacehorse strengthens the syndication model in the state.
“It's not only about boosting the (yearling sale) market, but I think MyRacehorse does a great job and their significance to the grassroots of our game through microshare ownership is very important,” he said.
“They do such a great job of integrating the (ownership) journey of purchasing a horse through to the racetrack, so engaging with MyRacehorse from Tasracing's perspective is a very good step forward.”
MyRacehorse Australia managing director Ben Willis believes microsyndication is an important way of engaging and attracting new people to the industry.
“Tasracing has built the right foundations for a strong and sustainable racing industry, with high-quality racing experiences, industry integrity and animal welfare at the heart of everything they do,” Willis said.
“Additionally, Magic Millions are great partners of MyRacehorse and we look forward to continuing our relationship through the 2026 Magic Millions Tasmanian Yearling Sale.”
