''We are pleased that the Premier has been able to see what we are in The Championships - a racing event or NSW and Sydney,'' Messara said. ''More important the Premier has made a commitment to give tax relief, which would mean we would have not to go through this process again.''

At the moment the NSW government banks $1.94 more than Victoria from every $100 bet by punters on the TAB.

Premier Mike Baird said the $10 million investment would be used for a quarantine centre in NSW, a new race during The Championships for country horses, and to promote The Championships around the world.

''The Championships will become racing's premier event in NSW and the NSW Government is proud to be supporting its continuation,'' Baird said. ''This year over 50,000 people attended the two-day event and, with greater brand awareness and more time to prepare, next year's event is only going to be bigger and better.

''The NSW government is continuing to work with Racing NSW regarding state wagering tax harmonisation with Victoria and Queensland.

''Any investment in The Championships would come from any proceeds of a potential harmonisation.''

If tax is harmonisation it could deliver up to $70 million more to racing in NSW. It would also deliver benefits to the harness racing and greyhound racing industry, which have not received a cent from the state government in extra funding.

Racing Minister Troy Grant alluded to the other codes in the release, which was leaked to Twitter first.

''All three racing codes are significant contributors to the cultural and economic fabric of our community, particularly in regional NSW,'' Grant said.

''The Championships is a signature event, but I am keen to keep working with the industry to achieve long-term sustainability in racing.''