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GOTBA Vic's view on GRV's amended prizemoney proposal

16/10/2017 1:26 PM | Anonymous

GOTBA Vic advocates for its owner, trainer and breeder members.

Financially, Victorian greyhound racing is thriving.  Money pours into GRV from an ever-increasing race wagering market share and our members provide the means for this to occur.  After significant GRV focus in the past 3 years on other matters, it is well past time for greater regular financial return to all levels and categories of participant to become a major, continuing GRV priority if it wants to arrest any slide in participation.  

GRV’s original prizemoney and breeding package was obviously inadequate – see the GOTBA original proposal submission.  The amended version is better - but we think there is still room for improvement.

In short, our issues with and comments on the amended proposal:

1.      Of the two options, option 1 is preferred.  This option focusses comparatively more on Level 3/Tier3 increases, and we expect will benefit a wider proportion of participants than Option 2.


2.      The overall prizemoney increase needs to be at least the $2.83m originally proposed.  The revised proposal increases annual prizemoney by only $2.55m.  We appreciate that the breeder package has changed (but not necessarily increased, see below), but this is no reason to reduce the original prizemoney increase given the greater revenue flowing into GRV.


3.      Breeder package (VicBred) amounts must always be paid. Importantly, GRV’s amended breeder proposal is not really to pay $1.40m annually to VicBred owners and breeders.  The reason: VicBred dogs will not win all of the planned races, GRV will only pay half the scheduled amount if a VicBred greyhound runs 2nd or 3rd and none of the scheduled amount if no VicBred dog places.  On the GRV proposal, a significant part of the $1.4m annual amount will not be paid at all and will be retained by GRV.


In GOTBA Vic’s view, the entire $1.40m pool must be paid out, each year, to owners and breeders. That amount is less than was paid under the GOBIS annual breeding package payments before it ceased. There are several possible ways to do this:


(a)    Each quarter, as unpaid funds accrue, apply unpaid funds to several VICBRED ONLY events at provincial tracks in which moneys are then paid out (preferably past the 1st 3 placegetters); and/or


(b)   Pay 100% of the allocated bonus amount to the VicBred greyhound that finishes 2nd or 3rd an is the first VicBred dog (ie rather than 50%); and/or


(c)    Each quarter, redistribute unpaid amounts into the general prizemoney pool (not preferred).


4.       Starter fees.  It is appropriate to focus now on prizemoney and breeder payments, before any increase to current starter fees.  But future prizemoney increase models should continue to consider whether starter fee levels are appropriate at that time – those fees form part of a responsible revenue distribution model.


Conclusion and the next step for prizemoney


GOTBA Vic wants to see further prizemoney increases – this package must only be the first step.


We are also want to see prizemoney proportions for 1st, 2nd and 3rd come closer to 65% to the winner, 20% for 2nd and 15% for 3rd by increasing lower place prizemoney over the short to medium term. 


Participation in this sport is best enhanced through positive return and incentive to owners, breeders and trainers.  Costs are borne by each and those costs have increased.  Our regulator needs to realise this and take action accordingly.  We, and our members, will be watching and acting to ensure this occurs.


GOTBA Vic Committee

16 October 2017

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