General Prize Fund

HBLB allocates prize money via racecourses which is then paid in accordance with the BHA Rules of Racing.

The total number of fixtures scheduled in 2017 has increased to 1,496 (from 1,481 in 2016). Of these, HBLB will be providing Prize Money for 1,342 (2015: 1,322).

Racecourse Fixtures
For 1,158 of the 1,219 fixtures known as “Racecourse Fixtures”, the prize money allocation is distributed according to a formula related to a racecourse's own committed contribution to prize money in the coming year (known as "Merit") and the amount of off-course horserace betting turnover generated by the racecourse's fixtures in previous years.

The total amount allocated to each racecourse under this system is known as its General Prize Fund (GPF) grant from HBLB. About 65% per cent of HBLB's total annual prize money budget is made as GPF grants. The GPF grant for the year must be fully expended by the racecourse on prize money in the course of the coming calendar year. It may not be transferred from one code (ie Flat or Jump) to another, but may be transferred between days of the same code.

Once a racecourse’s total GPF for the year is allocated by HBLB, how much of that sum the racecourse receives for each fixture depends on the total prize fund (TPF) on the day and the designation of that fixture.

In 2017, the HBLB Fixture Criteria distinguishes between prize money and Raceday Services grants, which can be seen at Fixture Criteria. Enterprise fixtures, Leasehold fixtures, self-funded fixtures and non-criteria Saturday, Sunday and Bank Holiday fixtures are not eligible for prize money grants. Non-criteria fixtures are those which do not meet the HBLB criteria for full funding but which racecourses wish to stage to provide customer-friendly racing.

HBLB sets the Fixture Criteria according to the number of horseracing fixtures regarded as an ideal for optimising off-course betting turnover (and therefore levy income). In 2017 it is, for afternoon racing, three afternoon fixtures on Monday to Friday (with the programming by BHA of a third fixture on Mondays and Tuesdays in June, July and August subject to horse population considerations ; four afternoon fixtures on Saturdays; five afternoon fixtures on Bank Holidays; two afternoon fixtures on Sundays; and, for evening racing, two per evening from Monday to Saturday.

Blanket Fixtures
The other 61 Racecourse Fixtures that make up the difference between the 1,158 and 1,219 referred to above are known as “Blanket Fixtures”, which are the first 61 afternoon AWT Racecourse Fixtures staged in the calendar year. In 2017 (excluding Easter) these fixtures receive a set prize money grant of £26,000, the same as in 2016.

Leasehold and BHA Fixtures
Leasehold and BHA fixtures are fixtures which are offered on variable term leases for which racecourses bid competitively. In 2017 there were 119 originally programmed leasehold fixtures and 116 BHA twilight fixtures. Leasehold fixtures receive Raceday Services grants from HBLB but no prize money. In 2017 twilight fixtures will receive Raceday Services grants and a set prize money grant of £12,200 (2016: £14,000).

Enterprise and Self-Funded Fixtures
In 2017, there are 39 Enterprise and self funded fixtures programmed which receive no HBLB funding. Generally, these are fixtures which the racecourse wishes to stage in order to secure racegoing revenue but which are not in slots conducive to generating significant levy.

Principal Day Fixtures
The BHA's Principal Day initiative has now ended, however the two pre-approved Principal Day Fixtures in 2017 are New Year’s Day and Saturday 3rd June, both at Musselburgh.

Fixture Type and Funding in 2017*
Fixture Type Sub Type Merit/Betting counts towards GPF calculations Prize Money
Racecourse Criteria Yes 100% or 50% GPF
Racecourse Non Criteria 5th Saturday Yes 0% GPF
Racecourse Non Criteria 3rd Sunday Yes 0% GPF
Racecourse Non Criteria Bank Holiday Yes 0% GPF
Racecourse Blanket No Fixed prize money grant (2017: £26,000)
Racecourse British Champions Day No One off contribution (2017: £382,000)
BHA Twilight No Fixed prize money grant (2017: £12,200)
Principal Day   Yes 100% GPF
Leasehold Future Champions Day Yes Fixed prize money grant (2017: up to £215,000)
Leasehold   Merit only None
Leasehold Good Friday at Lingfield No Fixed prize money grant (2017: £120,000)
Leasehold Good Friday at Musselburgh Yes 100% GPF
Leasehold Three additional Friday Evenings Merit only Fixed prize money grant (2017: £10,000)
Self-Funded   No None
Enterprise   No None
Additional (late notice fixture)   No Usually yes, depending on the circumstances

*This table reflects what a full year expenditure programme would look like, however, the Board has only fixed its commitments until 31st March 2017 and expenditure after this date is subject to review. 
 

Last Updated: 09 January 2017