Tasracing has announced a $1 million boost and several initiatives to invigorate Tasmania’s thoroughbred racing industry, including increasing the TasBred scheme’s prize pool to $2.15 million and expanding $20,000 bonus prizes to more races and removing age restrictions on eligible horses. Trainers can now convert their $1,000 TasBred bonuses into credits for yearling sales or stallion services, similar to schemes in Victoria and NSW. The state government has committed $300,000 to support these efforts, while Magic Millions has extended its Tasmanian Yearling Sale partnership until 2030 and will move key races to Hobart’s Elwick racecourse to coincide with Tasmanian Derby day, aiming to boost local investment and industry sustainability.

Despite these positive developments, the Tasmanian racing industry faces challenges, including a scandal involving stewards allegedly betting on races, which threatens the sport’s integrity. Tasracing’s leadership has remained tight-lipped on the investigation, while industry figures emphasize the importance of initiatives like MyRacehorse’s microsyndication to attract new participants and sustain growth. The combined efforts of Tasracing, Magic Millions, and local breeders aim to revitalize Tasmania’s thoroughbred sector by fostering reinvestment, improving market confidence, and enhancing the racing experience for owners, trainers, and the broader community.