SEVERAL of the region's most popular horse racing carnivals are set to receive a major boost in prizemoney thanks to Racing NSW.
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Announced on Tuesday, the total amount of prizemoney available for country racing in NSW will rise to a total of $81 million, a spike of more than $45 million since 2012.
The rise will mean that eight country Cup races across the state, including Tamworth, will now be worth $200,000 for the winner.
Other Cup race meetings to benefit include Grafton, Scone and Port Macquarie.
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Racing NSW Chairman, Russell Balding, fronted the media in Sydney to announce the landmark day for racing in the state.
"With this announcement today [Tuesday], total annual prize money for NSW country racing will now be some $81 million," Balding said.
"It's a significant increase of more than $48 million on the $33 million figure that was set back in 2012.
"It's the highest increase of any sector in racing in NSW."
Tamworth Jockey Club president Mitchell Shaw said the announcement was "a huge step for the club".
"This added prizemoney means that we will be able to attract some of the best horses and trainers from around the state to our club," Shaw told the Leader.
"As well as that, it gives our local trainers, who have been performing really well lately, added incentive to win their home race.
"We saw it this year with Tamworth trainer Cody Morgan winning his hometown Cup and it would be great to see that happen again with this added prizemoney."
Adding to the boost for the eight existing Cups, Racing NSW also announced the introduction of Country Magic races for each of the clubs.
Balding said the races would benefit country horse and trainers.
"The Country Magic races will offer $50,000 prize money and will be restricted to country-trained horses," he said.
Shaw said the introduction of the Country Magic races would "reward the hard work of country trainers".
"There are so many trainers helping country racing come along in leaps and bounds, so it is nice to see them get a little bit more incentive," he said.
"I think the added prizemoney will help us attract exceptionally strong fields in the future.
"With strong fields on the track it should bring in even more spectators to our events and in turn help us positively the impact the local economy."
As well as the Country Magic race, Tamworth's other showcase races such as the Mornington Handicap will also now offer $50,000 in prizemoney.
The new prizes come into effect on August 1.