Australia’s Victoria Cup sets new turnover record

The Victoria Cup horse race is estimated to have generated a record AU $9.1m (US$6.7m) in turnover, up 14.5 per cent when compared to the previous record set on the 2018 Inter Dominion Grand Final night.

Australia.- The Victoria Cup is expected to have set a new record in turnover, despite the race being moved from Melton to Bendigo due to Melbourne’s Covid-19 countermeasures. This event is expected to have generated AU $9.1m (US$6.7m), 14.5 per cent more than the record-setting 2018 Inter Dominion Grand Final night (ID18) at Melton.

Across the two evenings, turnover topped AU$15.9m, compared with AU$9.85m last year – an increment of over 61.4 per cent. 

Dayle Brown, Harness Racing Victoria CEO, told Race Net: “It’s a huge result. ID18 had stood alone for a long time for us, but this has smashed it.”

He added: “The figures are even more amazing when you consider we raced at Bendigo, not Melton. Historically, there’s always been higher turnover at Melton because it’s our major track, but we’ve done a lot to educate people about the great quality tracks we have at our regional centre.”

Brown said the Covid-19 pandemic has assumed a critical part in the turnover development, as it has turnover on all racing codes.

In April, Racing Victoria Limited, the governing body for thoroughbred horseracing in Victoria, also reported that wagers on the sport totalled more than AU$5m (US$3.9m) during the first half of its 2020/21 financial year. The number represents a 33 per cent increase compared to the previous period.