Racing stakes are set for a $12 million annual boost with the promise of much more to come. The New Zealand Racing Board (NZRB) shocked the chiefs of all three racing codes last night by informing them $24 million more dollars will be returned to the industry over the next two years to be used exclusively for stakes. He signals a new fixed odds betting platform, improved performance of the channels through which people can bet - particularly the internet - and an optimized racing calendar as ways New Zealand racing will profit. Wednesday's dramatic boost comes on top of the $4.77 million announced in January to support stakes, infrastructure and youth development. Exactly how the three racing codes will choose to allocate their extra earnings to stakes will be a major talking point.

Source: Otago Daily Times April 19, 2017 22:30 UTC