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Wagering turnover increase on Tasmanian racing

Sarah Courtney, Minister for Racing

The Hodgman Liberal Government is delivering on our plan for a strong and vibrant racing industry in Tasmania.

In 2017/18 national wagering on Tasmanian racing grew by more than 12 per cent to $576 million, building on growth of nearly 9 per cent achieved during the previous financial year.

All three codes performed well during 2017/18 – thoroughbred turnover was up 6.7 per cent, harness increased by 16.4 per cent, and greyhound turnover was up by 17.1 per cent.

This impressive turnover increase is a result of Tasracing’s strong commercial focus and quality, consistent racing.

These factors, combined with a revised Race Field Fee pricing structure, enabled Tasracing to increase code funding on two occasions in 2017/18.

The second round of increases meant the code allocation amount for the financial year was higher than the 2014/15 figure.

It is expected that the code allocation for 2018/19 would be above the 2014/15 figure in real terms.

The Hodgman Liberal Government has created an environment that promotes the sustainable growth of the industry into the future.