Victorian stake money set to rise again

12:36 PM 28 Feb 2014 NZDT
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Harness Racing Victoria

Harness Racing Victoria (HRV) is pleased to announce that with effect from the Shepparton meeting this Saturday night March 1, stakes will rise for the second time this year.

In September last year the minimum stake for a Career Penalty race increased from $5,000 to $5,500. From Saturday that stake increases to $6,000. This represents a 20% increase in the minimum stake for Career Penalty races since the start of the 2013/14 financial year.

Furthermore, from Saturday, Metropolitan Penalty stake money will rise again with M0 races increasing to $16,000 and M1 or better class races increasing to a minimum of $17,000.

Coinciding with these increases HRV will introduce a payment of $50 from 6th to last. The driver's fee, which has always been paid by HRV, will be added on top. Therefore all runners placed 6th to last in Metropolitan and Career Penalty races, or in the case of a Graduation Penalty race 5th to last, will receive $115.

The owner will receive the $50 and there will be no trainer's percentage or driver's percentage deducted from this component of the stake money.

The traditional standard of stake money being a 'rounded figure' will cease. For a detailed summary of how the stake splits will operate from March 1, 2014 click here.

Earlier in the year the VICBRED first win bonus for 2YOs increased from $5,000 to $7,000. With this second increase in the minimum stake money, from March 1 a VICBRED eligible 2YO will land connections almost $11,000 for its first win, so there's no better time to invest in a VICBRED yearling at one of the upcoming yearling sales.

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[Harness Racing Victoria]

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