Arena Racing Company grows prize money pot to over £35m

Arena Racing Company grows prize money pot to over £35m

Tuesday, April 10, 2018 Posted by Craig Davies
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Increase to spread across its 15 strong racecourse portfolio

It is hoped an increase in prize money will sow a plethora of benefits, after the Arena Racing Company (ARC) announced its levels will breach the £35m barrier across its portfolio of 15 racecourses.

In addition to increasing its own executive contribution, which has risen from £11.3m in 2015 to £17.5m this year, ARC also details that it has worked closely with stakeholders to extend the levy to remote betting, by committing to the Authorised Betting Partner initiative, which it states should see a yield increase of around £20m-£30m per year.

Susannah Gill, director of external affairs at ARC, has been speaking to about the significance the increased prize money has: “The added investment by ARC of £2.5 million is considerable in itself, but also ensures industry funding is ‘unlocked,’ which means races that were worth £3,500 will now be worth £6,000, which is by far the biggest uplift the sport has seen in recent years.

“The central aim of this is to ensure we can encourage more owners into the sport, which means more horses running and in turn bigger field sizes and more competitive racing. This should boost betting and help secure racing’s long-term income which is crucial to the sport’s success.”

ARC has also stressed key strategic work in the expanse of its media rights model through The Racing Partnership, delivering many mutual benefits designed to safeguard and increase the value of British racing.

Gill added: “Via The Racing Partnership we are developing a more efficient media rights model, which ensures betting operators and rights holders (the racecourses) can work more closely together on developing the racing product, and strike more efficient deals which benefit all parties.

“The depth and quality of British Racing makes it a popular betting product in the UK and around the world, and via The Racing Partnership we have the opportunity to further develop this, and ensure it remains at the heart of the portfolio of products betting operators offer to their customers.”

Totally Gaming says: Each development detailed is designed to enhance the horseracing product to a global audience, which could bring a variety of benefits to many parties with an active interest in the sport. It is essential that figures committed continue to progress in the same way as detailed here.

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