Prize money levels in Ireland: 'We can't keep relying on government handouts'

Horse Racing Ireland has explicitly acknowledged problems with prize money and funding sustainability. In a pre-budget submission to the Government, HRI warned that it was falling behind competitors such as Britain and that shortfalls in funding were “no longer sustainable.”

It noted that prize money levels lag significantly behind British equivalents (e.g., far fewer valuable Group and Listed races in Ireland), that industry sentiment about “unacceptable” prize money has been publicly voiced, and that stagnant funding from the Horse & Greyhound Racing Fund means HRI is eating into its reserves just to maintain current expenditure.

HRI stated that without increased funding, it cannot deliver on its strategic objectives and may need to cut race meetings and other services, and it has endorsed a strategy for raising prize money between 2026 and 2028.

Speaking on irishracing.com’s Irish Angle Johnny Ward shares his view "We’re really reliant on government subvention, which is ethically questionable, or at least questionable from the perspective of other sports.

"Bookmakers are losing interest in horse racing. Trainers will complain about prize money, but they’ll also acknowledge it’s not their pay grade and they don’t know how to fix it.

"I don’t see the situation improving. This was a staggering acknowledgement from HRI of the problems we’re facing."

Falling behind?

Prize money in Irish horse racing is relatively modest compared with many other major racing nations, despite Ireland’s global reputation for quality horses and breeding.

Ireland’s total annual prize-money pot (around €70—75 million) is lower than Britain’s and far behind jurisdictions such as Australia, Japan and Hong Kong, where betting-driven funding models generate much higher returns.

While Ireland guarantees a broad spread of prize money and a €10,000 minimum per race, the absolute amounts, particularly at lower and mid-tier levels, are often considered insufficient when set against rising costs for trainers and owners.

In contrast, countries like Australia and Hong Kong offer far higher purses at ordinary meetings, while Britain generally provides better prize money at elite and middle levels, leaving Ireland competitive in prestige but under pressure financially.

Emma Nagle added: "Ireland is still more agriculturally based than the UK, which helps racing culturally. There’s less opposition to racing here, but we can’t keep relying on government handouts.

"It has to become self-sustainable at some stage and find the money itself for prize-money increases. It’ll be interesting to see where this goes."

Employment

Horse racing is a major source of employment in Ireland, particularly in rural areas, where it supports tens of thousands of jobs across training yards, breeding farms, racecourses and related services.

The industry provides direct employment for trainers, jockeys, stable staff, grooms, racecourse workers and administrators, while also sustaining a wide network of ancillary roles such as veterinarians, farriers, transport operators, feed suppliers and bloodstock agents.

Because racing activity is spread throughout the country rather than concentrated in cities, it plays a crucial role in local economies, helping to sustain villages and small towns and providing year-round employment in areas with limited alternative industries.

Paddy Flood gave his thoughts on the funding model: ‘Horse racing employs a lot of people, which is positive. But if prize money stays down, wages in racing will stay down.

"Trainers won’t be able to keep up with inflation. Shavings are going up, feed bills are going up, electricity, water - everything is going up - but prize money is staying the same, if not going down.

"Stable staff are working incredibly hard. Working in a racing yard is one of the hardest jobs in the world. It’s rewarding, but physically and mentally it’s tough. It’s day in, day out perfection, horses have to be sound, shod, trained, everything right.

"It’s hard to make a good wage in Ireland if prize money stays where it is. I don’t know how to fix it - that’s above my pay grade, but with how volatile the political system is, racing should have a long-term plan."

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