Race wagering, horse ownership and prize money declines as Qld government launches review

Racing clubs that are being hit hard by a decline in trackside gambling and racehorse ownership are supporting an urgent Queensland Government review into the industry.

Racing Minister Tim Mander at Eagle Farm racecourse where he announced an independent review into the Queensland racing industry. Picture: Liam Kidston

Racing clubs are dealing with punters betting less at the track and industry insiders fear this is having an impact on club revenue, worsening the difficulties brought about by a jockey shortage and prize money discrepancy.

Racing industry members welcome the independent racing industry review lasting six months which will be headed by former Australian Turf Club president and Cronulla Sharks director Matthew McGrath.

Racing Minister Tim Mander expects to receive the final report at the end of September, which will make recommendations into thoroughbred, harness and greyhound racing, following consultation with race clubs, trainers, and horse owners.

Industry sources were concerned about an eight per cent decline in wagering in the last year, which they claim was linked to less disposable income due to increased cost in living, which had then impacted country racing clubs that budgeted for growth during the pandemic.

They also feared of a sharp decline in racehorse ownership which was linked to prize money being unable to meet the associated costs such as flying in jockeys to the regions, which had a shortage of riders.

Minister for Racing Tim Mander reads through a discussion paper outlining consultation details with the racing review. Picture: Liam Kidston

Cairns Jockey Club president and property developer Tom Hedley owned more than 100 racehorses but said he recently scaled back to about 70.

“And I’m sort of competing against myself a lot, which isn’t really good,” Mr Hedley said.

Mr Hedley was satisfied with prize money amounts but said it risked being returned to Brisbane when race days were cancelled due to wet weather.

He said regional race meetings would not exist without south east jockeys being flown in

“We probably bring up six to eight jockeys every week from the south, probably even more.

“Townsville it’s the same, the whole north, Mackay is the same, Rockhampton is the same.

“It’s getting expensive for them with the air flights.”

Townsville’s Cluden Park race club president Geoff Weeks backed the need for a review and said he would seek a prize money restructure for regional clubs.

“Trainers find it hard to get investors, owners into their horses, if the prize money is not there,” he said.

Mr Weeks said clubs relied on funding which came from wagering, and its decrease was noticeable at the local bookie stand.

“People are punting, but where they might have been putting 10 each way, they’re putting five each way,” he said.

“People still enjoy the sport and the excitement of the races, but you know, it’s their back pocket.”

On Saturday at Eagle Farm racecourse Mr Mander observed racing had its own portfolio because of its economic significance, which was worth $2.4bn and 16,000 jobs to the Queensland economy.

“The issues that have come to light for me over the last four years of shadow minister are things like governance, things like funding structures, how do we have fit for purpose infrastructure, animal welfare … and how do we make sure that country racing survives?” Mr Mander said.

“I don’t want to look at individual clubs solely, I want to look at the more systematic issues to help us have funding sources that are reliable and that organisers … can bank on.”

Originally published as Race wagering, horse ownership and prize money declines as Qld government launches review