This week Greyhound Racing Victoria increased Victorian greyhound racing prizemoney by $5.3m, to pay $63.5m in the year to 30 June 2022. Any increase is good, so well done. A step, though more are needed, is better than none.
Whatever else may be said this would not have occurred without your and our sustained action. We know this. You do too. GOTBA Vic’s preference, based on what you told us, was for an unplaced fee, in addition to increases at Level 2 and Level 1. An unplaced fee is of wider benefit. It ought come very soon in a high cost environment.
We need to make clear a few points about prizemoney going forward though.
In the year to 30 June 2021, GRV had record income and you had record work in races to attend and dogs to care for. You were never paid a lower % of GRV income, and had slipped to the bottom few States in per race prizemoney.
GRV had $20m in extra (unbudgeted) income actually earned last financial year. Of that, as of now just the $5.3m announced this week has been committed to you.
One might ask, still, where is the rest going, or where has it gone? Some answers will come from GRV’s Annual Report for 20/21, when it arrives. Watch that space. We will be.
At present, betting turnover (Australia wide), and industry income this year is still COVID affected: that is, very high. Records last year may well be bettered. Frankly, more increases in participant returns should be expected to occur this financial year.
What if, in the 2 years to 30 June 2022, GRV achieves income of $250m-$280m (this is possible), and returns just $115m (the figure currently projected) to you as prizemoney?
You have EVERY RIGHT to demand that a minimum share of annual GRV income is returned to you, who provide the product and take all manner of risk.
That share should be 50%. Minimum. Less will be unacceptable. It should be committed to. We are focused on that.
For now, on prizemoney, we watch and wait. We will not wait long.
PS – We will soon be re-engaged with GRV on matters of fairness and tracks, and will report on outcomes of that.
GOTBA Vic Committee