SPORTS BETTING

Hong Kong – Hong Kong domestic prize money surges by eight per cent

By Phil - 24 April 2023

Hong Kong’s domestic racing prize money will rise by eight per cent for the 2023/24 season, featuring increases across every class of competition – from Griffins to Class 1 and the Four-Year-Old Classic Series – with an additional HK$94m (approx. £9.6m) on offer.

Including bonuses, Hong Kong’s domestic prize money will grow next season to HK$1.38bn (approx. £141m) – a figure which does not include prize money for Hong Kong’s Group 1 races, including the seven elite contests featured at LONGINES Hong Kong International Races and FWD Champions Day, and Group 2 and Group 3 races.

Details of the final 2023/24 prize money structure, including Group racing, will be announced by The Hong Kong Jockey Club in the coming days.

Adding to the Club’s decision to boost PP (Privately Purchased) Bonuses for both Class 2 and Class 3 horses from HK$1m to HK$1.5m (approx. £150,000) for next season, prize money for Griffins rises eight per cent to HK$950,000 (approx. £97,000) a race, while Class 1 races at 1600m or further will be worth HK$4.075m (approx. £417,000), a gain of 7.2 per cent.

The BMW Hong Kong Derby (2000m) will be worth HK$26 million (approx. £2.7m), an increase of HK$2m, while the two other legs of the Four-Year-Old Classic Series – the Hong Kong Classic Mile (1600m) and Hong Kong Classic Cup (1800m) – will each carry HK$13m (approx. £1.3m), an extra HK$1m per race.

Winfried Engelbrecht-Bresges, Chief Executive Officer of The Hong Kong Jockey Club, said: “The BMW Hong Kong Derby is revered in Hong Kong as the race every Owner wants to win and considerable financial resources are often outlaid to secure high-quality horses to try and run in and win the Classic.

“The BMW Hong Kong Derby and Four-Year-Old Classic Series prize money increases are part of our continuing commitment to providing an attractive prize money and bonus structure to Owners who invest in top quality Derby contenders, many of which go on to develop as Hong Kong’s best performers.

“More broadly, with the enhanced prize money at every level of Hong Kong racing – from Griffins to Class 1 – next season, we are continuing to deliver on our commitment to support our Owners who are the bedrock of Hong Kong’s world-class racing.

“We recognise that our Owners face strong competition in traditional markets for the supply of horses to Hong Kong and believe that these enhancements for next season will provide our Owners substantial support proportionate with their investments.”

The prize money schedule for next season means Hong Kong’s prize money pool has grown by nearly 100 per cent over the past 10 years. 

Featuring among the many highlights of the 2023/24 prize money structure, races at 1600m and further at Class 1 to Class 3 next season will again carry a 10 per cent premium in prize money than contests over shorter distances, while the DBS x Manulife Million Challenge series rises by HK$500,000 to HK$1.5m with HK$1m for the winning horse, HK$350,000 for second place and HK$150,000 for third.

Andrew Harding, Executive Director, Racing at The Hong Kong Jockey Club, said: “Before the 2022/23 season, we had a complete review of our prize money and incentive structure and decided then to make continuous investments in the future which has resulted once more in the significant increases in prize money and additional incentives in the bonus system announced this week.

“These increases complement our capital investment in the state-of-the-art training facilities at Conghua Racecourse, the soon-to be-commenced major refurbishment of the training facilities at Sha Tin and our ongoing investment in the on-course racing experience.  We have one goal, which is to provide Hong Kong’s Owners with a value proposition for racehorse ownership that is unequalled anywhere in the world.”

As a result of this substantial prize money boost for 2023/24, the Club has also approved an extension of the closing date for the 2023 Horse Ballot from 5pm Thursday, 27 April by two weeks to 5pm Thursday, 11 May.