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| Sumita Pawar |
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The Everest, Australia's premier horse racing event, is set to become the second richest horse race worldwide with a prize pool of A$20 million.
The increased prize money is the long-held ambition of Peter V’landys, CEO of Racing NSW, who has been championing the cause for years.
The Everest has rapidly evolved into the most prestigious event in the country's horse racing calendar, attracting the best horses, jockeys, and trainers from around the world.
V’landys has been openly enthusiastic about his vision for the event, stating that “our aim has always been to make it A$20 million.” While many are praising the recent increases in prizemoney, there are now increasing concerns and debates within the industry questioning the sustainability of such an ambitious prize pool, raising doubts over the long-term viability of this high-stakes approach.
Giga Kick Favored To Win Big
Giga Kick, the champion of last year’s Everest race, is the favourite to secure another victory in 2023 amidst a substantial A$20 million prize pool. The heightened stakes would see slot holders elevating their investment to A$700,000, but this increased input is offset by a promising $5 million boost from the 2022 purse, ensuring even the last place will cover the slot fee in a new distribution scheme for the prizemoney.
While many are praising the recent increases in prizemoney, there are now increasing concerns and debates within the industry questioning the sustainability of such an ambitious prize pool, raising doubts over the long-term viability of this high-stakes approach.
The Sustainability Debate: The Everest Prize Pool
Despite the concerns, The Everest is poised to become a global phenomenon, attracting the best horses and jockeys from around the world. With a prize pool of A$20 million, it is set to become the second richest horse race worldwide, trailing only the Saudi Cup.
The Everest is a testament to the passion and dedication of Peter V’landys and his team, who have worked tirelessly to make this event a success. It is a shining example of what can be achieved when ambition and innovation are combined, and it is sure to be a highlight of the horse racing calendar for years to come.