Racing NSW have announced an increase of $20 million in prizemoney annually across the state.

This announcement includes a new $100,000 midway race to be added to metropolitan Saturday race meetings.

The midway race will be exclusively for small to mid-sized stables to run at metropolitan meets, taking effect from 1 July 2021.

There will also be another 20 meetings added to the country showcase series, with minimum prizemoney set at $30,000.

$91 million will now be paid in prizemoney annually in country racing, which is a 176% increase since 2012, representing an increase of $58 million.

The Spring Racing Carnival will also benefit from the increased prizemoney, with the Epsom Handicap increasing by $500,000 to $1.5 million, and the Villiers Stakes increasing by $500,000 to $750,000, among others.

A $1 million bonus has also been included, for any horse who is able to win both the Craven Plate and Rosehill Gold Cup in the same year.

Minister for racing, Kevin Anderson, said he is pleased to see the broad increase of prizemoney in NSW.

“We are pleased to be able to announce this significant increase in prizemoney which will benefit country races as well as the Saturday metropolitan race meeting each week,” Anderson said.

“We also want to make sure that our traditional Spring Feature races continue to attract quality fields and maintain their prizemoney relativity,” he said.