Bonuses for Victorian bred thoroughbreds

MELBOURNE, Nov 16 AAP - Next season's Victorian-bred two-year-olds will be the first to compete in a new multi-million dollar program designed to boost prize money and bonuses in the state.

VOBIS Gold, which will be offered in addition to Victoria's Super VOBIS scheme, will provide owners of horses bred in Victoria with the opportunity to significantly increase their earning potential.

The new incentive will offer $20,000 bonuses at up to 350 races conducted across all ages, classes and tracks, plus an annual $1 million restricted race series for VOBIS Gold qualified horses.

A total of $18 million in VOBIS bonuses will be on offer in Victoria each year with entry into the VOBIS Gold program conditional on a one-off $1000 fee for qualified yearlings.

The state government has committed almost $6.8 million over four years to establish the scheme.

Racing minister Denis Napthine was joined by Racing Victoria chief executive, Rob Hines, for Wednesday's announcement at Nagambie's Swettenham Stud in central Victoria.

Under the scheme, the owner of a qualified horse winning a standard $12,000 Victorian country race with a VOBIS Gold and Super VOBIS bonus attached will collect $25,235 compared to $6,825 for an unqualified horse.

Similarly the owner of a qualified horse which wins a Saturday metropolitan race will collect $72,800 compared to $42,700 for an unqualified horse.

The one-off yearling entry fee will be due on June 1 each year with the nomination form and details for the initial crop to be distributed in early next year.