Australian horse racing prizemoney bursts through the $1 billion barrier

Statistics released by national industry bodies have showcased the extraordinary stakes explosion over the past decade that has resulted in record returns to owners and participants.

Punters (top left) celebrate a win in The Big Dance at Randwick; Prizemoney levels have gone to new levels in Australia thanks to races like (clockwise from top right) the Melbourne Cup, The Everest and The Golden Eagle.

Australian racing is set to burst through the $1 billion prizemoney barrier for the first time this season.

Statistics released by national industry bodies, Racing Australia and Aushorse, showcases the extraordinary stakes explosion over the last decade that has resulted in record returns to owners and participants.

During the 2023-24 Australian racing season, an all-time high of $985,764,727 prizemoney was distributed by race clubs at an average of nearly $54,000 per race, according to Racing Australia’s Fact Book.

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Prizemoney has nearly doubled in a decade after $528,826,259 was paid out during the 2014-15 season.

One in every 43 horses had career earnings of more than $500,000 and one in every 132 horses won more than $1 million.

Although the racing industry has been forced to “tighten its belt” due to a wagering turnover downturn and cost of living pressures, there has been further stakes increases and new big-money races introduced in 2024-25 which will take total national prizemoney to more than $1 billion.

The inaugural The Supernova won by Here To Shock at Pakenham last Saturday was the 105th Australian race boasting prizemoney of at least $1 million this year.

Here To Shock hangs on in a thriller to win the inaugural The Supernova! ✨@LindsayParkRace dominate with the quinella 🔥@danielstack33pic.twitter.com/vcKdnJRapg

— Racing.com (@Racing) December 21, 2024

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This compares to 69 races worth $1 million or more in the United States and 29 across Great Britain and Europe.

Newgate Farm supremo Henry Field maintains there has never been a better time to invest in Australian racing.

“The fundamentals of Australian racing are strong and prizemoney is obviously high,’’ he said.

Field said “optimism has replaced pessimism” ahead of the Magic Millions Yearling Sale on the Gold Coast next month.

“I must admit I was slightly pessimistic about the market three months ago due to the economy and cost of living here.

“But now I feel there is a real optimism around the Magic Millions with the quality of yearlings and the potential investors coming to the Gold Coast. I think it will be quite a buoyant sale.’’

Leading the world.

With 105 races worth $1 million or more in 2025, more of the highest rated Group One races than any other jurisdiction; and more than 140,000 registered racehorse owners, Australian Racing is unlike anything else around the globe.

Read more here:… pic.twitter.com/T5Bfnrxgdt

— Aushorse (@Aushorse_TBA) December 15, 2024

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Leading owner James Harron agreed the “foundations of Australian racing are strong” which promoted investment in the sport.

“Prizemoney is a very important aspect for all the obvious reasons but confidence in the future direction of the industry and how it is being managed is also a very big deal,’’ Harron said.

“What we have seen in the last decade is people treating their racehorse ownership investments as a serious asset rather than just a fun hobby.

“Also, the cut-through racing has in mainstream society and the media here is like nowhere else in the world.

“No matter where you travel around Australia, people either own a racehorse, have a family member involved in a racehorse or know someone who has a racehorse, which gives you an idea of how broad the ownership base is in this country.’’

Join the crowd.

Australia embraces racing like no other country. More than 140,000 owners!

Read the 2025 Investor's Guide: https://t.co/E5MYgABNvTpic.twitter.com/Y4TSpNWDGe

— Aushorse (@Aushorse_TBA) December 17, 2024

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Racehorse syndications makes the sport more affordable with Aushorse statistics revealing one in 191 Australians own a share in a thoroughbred.

This compares to one in 1108 people in Ireland who have a share in a racehorse, one in 4948 in the UK and one in 10,653 in France.

Australian racing also hosts more of the world’s top 100 Group 1 races than any other country with 24 majors ahead of USA and Great Britain with 17 each.

The “iron lady’’ of Australian racing, Bella Nipotina, had 14 starts during 2024, contesting 10 Group 1 races and winning three majors – The Everest, Doomben 10,000 and Tatt’s Tiara – earning more than $14 million in race prizemoney and bonuses for the year.

Bella Nipotina keeps the dream alive for all racehorse owners as the mare cost only $80,000 as a yearling and has now collected career earnings of more than $22.5 million with more to come next year.

Originally published as Australian horse racing prizemoney bursts through the $1 billion barrier