2023 Ratecard Plus
Following the resumption of racing in June 2020 through to December 2021 a basic Ratecard model was used to distribute prize money grants. It offered a simplified method of funding involving a fixed payment being made to each race depending on the race class, type and minimum race value.
In 2022 a new mechanism, Ratecard Plus, was introduced. As well as receiving payments based on the minimum value of a race, racecourses were able to unlock additional funding from HBLB provided their own contribution (known as Executive Contribution (EC)) was above a minimum specified amount.
The 2023 Ratecard Plus mechanism is essentially a continuation from 2022, with minor changes made to some funding percentages by race type.
The ratecard mechanism offers greater transparency of funding and provides incentives to racecourses to invest beyond minimum values, as what a racecourse receives from HBLB for each race is linked directly to the racecourse’s contribution to that race. It allocates funds between race types in a structured way so that a more strategic and consistent approach can be applied to how HBLB prize money funding is utilised across the programme of c.10,000 races staged every year.
Three payment bands have been introduced for each race class and type. The Flat 2yo programme is shown below, with an equivalent Ratecard existing for each part of the programme:
For illustrative purposes, three alternative funding scenarios are shown below for a 2yo Class 4 handicap:
Ratecards for all parts of the race programme are available here.
The total amount available for Ratecard Plus funding in 2023 is currently budgeted at £56.8m. The allocation to prize money is intended to split funding c.60% to Flat racing and c.40% to Jump in accordance with the turnover generated by each code in recent pre-Covid years.