New Zealand harness racing is set for a $2.7 million injection into stakes but further boosts could partially rely on how popular the product is in Australia.
Harness Racing New Zealand announced the extra funding to clubs this week, allocating almost all of the extra $3.1 million HRNZ will receive from TAB NZ as its share of profits.
Any boost of nearly $3 million in stakes is a great result for the industry and even more so as HRNZ will enforce that 100 per cent of the funding must go into stakes so the money goes back to trainers, drivers and owners.
With huge changes in the structure of TAB NZ, betting information use charges (race fields) now being paid by overseas bookmakers and the New Zealand Government repealing some of the betting levy there is light at the end of the tunnel for New Zealand racing of all three code after a tough decade.
But how much money feeds back into the harness racing industry will be affected by how popular NZ harness racing is in Australia.
The three codes used to be paid an agreed percentage of Australian turnover on New Zealand racing but from now their shares of Australian turnover will be decided by their percentage of that turnover.
With thoroughbred racing by far the strongest code and turnover on NZ greyhound racing increasing, HRNZ bosses are keen to boost their profile and ultimately turnover in Australia.
HRNZ are also set to release its key racing dates for the remainder of 2021, which isn’t expected to see major changes but with far bigger changes next year as the date New Zealand standardbreds change age changing from August 1 to January 1 to bring it in line with Australia.