Increased contributions by racecourses and owners boost British horseracing prize money to £188m

• Racecourses contribute over £100m to prize money in 2024
• Owners’ contribution to prize money rises to over £25m
• Total prize money fund exceeded £188m
• Horserace Betting Levy Board offer £61m to total prize money fund

Racecourses and owners have increased their investment in prize money which has helped contribute to the total across British horseracing exceeding £188m. 

The Racecourse Association (RCA) can confirm a total prize money fund of £188,032,620 in 2024 (an increase of 2% from 2023), with 54% of this figure derived from racecourse executive contributions (EC). The total EC was £100,673,329, the first time racecourses have exceeded the £100m mark. 2024 saw a total of 9,988 races run at 1,410 fixtures, a slight decrease from 2023 (10,015 races run at 1,425 fixtures).

The year-on-year analysis of EC represents an increase of 3.3% and demonstrates the commitment of racecourses to material growth in the levels of prize money for participants. Such an investment comes alongside the most significant strain on industry finances in recent memory, exacerbated by the continued economic recovery from the Covid-19 pandemic.

For racecourses, increases to National Insurance contributions and minimum wage are estimated to incur a £15m cost, whilst large-scale capital expenditure programmes continue to be scheduled; the upgrade of weighing rooms across racecourses is expected to exceed £40m in collective funding. 

The collective contribution of racehorse owners also increased to £25,925,621, whilst the Horserace Betting Levy Board (HBLB) contributed £61,406,760 to the total prize money fund.

David Armstrong, Chief Executive at the RCA, commented: “The RCA is pleased to share total prize money figures for 2024, and particularly the total of £188m and racecourse executive contribution of over £100m for the first time.

“It should not be taken for granted that the total prize money levels will increase year-on-year, particularly when considering the present socio-economic climate. As such, these figures represent a strong outcome for 2024. “

“All sectors within horseracing are feeling the burden of financial pressure. As highlighted in these figures, both racecourses and owners have increased their investment at a time of economic uncertainty, and it has been documented how trainers and yard staff have been adversely affected by the increase to National Insurance and minimum wage.

“We will continue to work with our colleagues at the Thoroughbred Group in good faith to develop commercial partnership agreements which should support growth in prize money.”