BHB Announces Record Prize Money in Britain for 2015

The British Horseracing Authority (BHA) has announced that the projected total prize money in Great Britain in 2015 will exceed £130 million, posting a new record for the second year running. Approximately £4 million of this total is formed by the Additional Voluntary Contribution (AVC) made by four contributing bookmakers (William Hill, Ladbrokes, Coral and Betfred). This money is being used to stimulate more competitive racing. 

BHA Chief Executive Paul Bittar, who will leave his position at the end of the week and be replaced by Nick Rust, commented in a statement, “It is pleasing that 2015 will see record levels of prize money being distributed, off the back of what was a previously unmatched figure in 2014. Increases in prize money help stimulate ownership and investment, bringing benefits to all participants and as such it is crucial to the health and wellbeing of the sport. 

Bittar continued, “An important contributory factor to the totals in 2014 and 2015 are the Prize Money Agreements with the Horsemen’s Group and BHA that have been signed by the vast majority of racecourses. They have provided a framework for increased contributions. In addition, the 2015 figures showcase the sport’s capability of attracting substantial investment from both domestic and international sponsors. However, despite progress in recent years, there are still challenges to be faced and the levels of prize money in Britain do not reflect a level that British Racing’s international standing warrants. We are also conscious of longer-term forecasts, which show that there is work to be done unless a change in Levy legislation is realized. To this end, a consultation from Government regarding Racing’s central funding model is imminent and of vital importance to the future health of the sport.”