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| Staff Writer |
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Thoroughbred Sales is launching an ambitious US$4 million bonus scheme targeting the grassroots level of Australian racing, with a revolutionary series set to commence at the start of the 2025 season.
The innovative programme, masterminded by managing director Jake Watkins, will distribute US$10,000 bonuses across 400 races, focusing primarily on maiden and benchmark events rather than premier racing.
The rapidly expanding digital marketplace, which processed nearly US$75 million in transactions last year, is implementing the scheme following extensive consultation with industry stakeholders.
Previous bonus schemes in Australian racing have typically focused on prestigious events like the Golden Slipper Series and The Everest, making this grassroots approach particularly noteworthy.
"The industry has enough of the big race days with the huge purses, so we decided that going down this avenue gives our clients the best chance in reaping the rewards," Watkins explained.
The series will kick off during next year's Magic Millions Sales, where yearlings offered through Thoroughbred Sales will become eligible for the bonuses. Initially targeting juvenile races, the programme will gradually expand to include older horses.
The funding structure sees 60 per cent coming from a one per cent levy on eligible sales, with Thoroughbred Sales contributing the remaining 40 per cent. This sustainable model ensures long-term viability through to 2028.
"At the lower maiden and benchmark level a bonus like this can be of great benefit which we hope will add confidence at that level and see reinvestment back into the industry," Watkins added.
Recent technological upgrades have streamlined the process, with the platform's automated systems facilitating seamless bonus distribution. Race selection will be strategically aligned with eligible runners' locations across different states.
"We want to be very targeted in taking the races to where our clients that are eligible are," Watkins said. "So, we'll be very purposeful in how we map that out because for us if this is to be successful we need as many of the bonuses going back into the pockets of trainers and owners as possible."
The initiative represents a significant shift in bonus distribution within Australian racing, focusing on sustainable growth at the sport's foundation level rather than its elite tier.