Purse Increases For Hong Kong

Purses for Hong Kong's 2015/16 racing season will rise to an all-time high, and will be up 7.5% from last season. Class 1 races will be worth HK$2.4 million (US$309,556), an increase of 9.1%, while Class 2 races see the greatest rise; they will be up 10% to HK$1.65 million (US$212,819). Class 3 races will be up 9.9%, while Class 4 and 5 races will rise by 5.3% and 4.3%, respectively. 

While there will be no change to the purses for Hong Kong's International raceday, four local Group 1 contests will receive a boost: the Hong Kong Classic Mile and Hong Kong Classic Cup will each be worth HK$10 million (US$1.3 million), while in the speed series, the Centenary Sprint Cup and Chairman's Sprint Prize will both be worth HK$8 million (US$1 million). The Sprint Cup has also seen a change in distance, up to 1200 meters from 1000 meters.

Hong Kong's international and local Group 2 races will rise by 3.2% in value to HK$4 million (US$515,926); and local Group 3s will be worth HK$3 million (US$386,944), up 9.1%.

The Hong Kong Jockey Club last year implemented the High Achievement Bonus to incentivize owners to import high-quality horses, and that scheme–which has thus far paid bonuses for 28 horses–will continue next season. The HAB pays out bonuses up to HK$1 million (US$128,981) for horses reaching certain levels before the age of five.

“The overall increase in prize money and incentive awards for next season upholds the Club's objective to maintain and improve the quality of Hong Kong racing,” said Bill Nader, the Hong Kong Jockey Club's Executive Director of Racing. “We appreciate the increasing financial pressures that our loyal owners are experiencing when purchasing high-class horses, and continued efforts to increase prize money over the past seasons demonstrates our ongoing commitment to strike the right balance.”