Prize money at Market Rasen Racecourse is set to rise to a record amount of nearly £1.5 million for 2018.
The new total of £1,484,600 represents an increase of 11 per cent over the prize fund offered during 2017 of £1,321,500, and will be spread over 22 fixtures.
The average prize fund for each racing day is £67,000, while the racecourse will host its most valuable ever winter fixture next Wednesday (January 17) when more than £80,000 is on offer.
The annual Prelude Chase, traditionally held at the end of September, is being switched to October, helping to create two £100,000 meetings this autumn.
On Boxing Day, prize money for the annual Clugston Lincolnshire National has been raised to £20,000.
Market Rasen Racecourse is part of The Jockey Club, which has announced a record contribution from its own resources to prize money this year.
The UK’s leading racecourse group is increasing its contribution across all of its 15 racecourses by £4.2 million to £27.1 million next year.
This means total race values will be £53 million – a rise of £8 million on 2017.
Nadia Powell, Market Rasen Racecourse general manager, said: “This is fantastic for Market Rasen Racecourse, as it is for all racecourses within The Jockey Club, as we endeavour to attract the highest quality horses that we can to Lincolnshire for our spectators to watch.
“We pride ourselves in supporting all levels of racing and this increase in prize money will benefit everyone.”
Since 2010, The Jockey Club will have more than doubled its annual contribution to British racing’s prize money from its own resources.
Governed by Royal Charter, The Jockey Club’s mission is to act for the long-term good of British racing, which includes reinvesting all of its profits back into the sport.
Paul Fisher, Chief Executive of Jockey Club Racecourses, said: “I’m very proud of our people who have worked hard to achieve the commercial results we need to be able to offer this.
“Because we already put all of our money back into the sport, we can only increase our prize money contribution if we create the commercial returns to do so.
“Some people might think that our prize money is all about the highest race classes or at one or two racecourses, but these figures demonstrate another step forward in our commitment to supporting British racing at all levels.”