HRI boosts prize-money for 2026 - what has changed and how will it be funded?

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Horse Racing Ireland (HRI) has announced a boost to prize-money for 2026 as part of a three-year strategy, and below we look at why the investment has been made.

Which race types have had prize-money increases?

HRI is increasing prize-money by €4.3 million to €74.7m for 2026. The increase will see a near-equal split across Flat and jump racing, with minimum values lifted from top-level Pattern races down to starter races.

Group 1s will be worth no less than €400,000, an uplift of €100,000, while Group 2 and Group 3 races will both increase by €10,000 to €130,000 and €70,000 respectively. Listed races will go up by €5,000 to €50,000.

While Flat Group 1 values are going up by a minimum of 33 per cent, open Grade 1 jump races are increasing by 50 per cent to €120,000. Open Grade 2s will be €70,000 and Grade 3s will be €55,000, with Graded novice contests over hurdles and fences, as well as juvenile races, also getting boosts.

There will also be increases to novice/maiden hurdles, novice/beginners' chases and bumpers, so that no race is run for less than €13,000 (previously €10,000).

Small rises are expected for all but the lowest band of handicaps on the Flat and over hurdles, which will remain at €10,000 and not result in increased costs for owners, while Irish EBF two-year-old maidens will be worth €22,000 from €18,000 and Irish EBF Auction and Median Sires Series races rise to €25,000.

All figures are minimums, with many races expected to exceed these amounts. The changes will take effect from March 1.

Why has HRI taken this step and how will it be financed?

HRI says the increases are part of a three-year prize-money strategy to retain Ireland’s competitiveness globally. With racing jurisdictions worldwide raising purses, HRI's aim is to retain owners, encourage investment in bloodstock and maintain its international standing. 

Last summer, HRI approved the upward adjustment of targeted prize-money levels in the current strategic plan, increasing the ambition from €80m in 2028 to €85m.

Given that there was no increased government funding announced in the most recent budget, the funds will come solely from within the industry. For the first year of the strategy, HRI will contribute an additional €2m, supported by a ten per cent rise in entry fees across most categories, increased contributions from racecourses and a record €3.2m sponsorship from the Irish EBF.

It means owners' contribution to prize-money will rise to 24.9 per cent in 2026, from 23.9 per cent last year, before dropping back to 23.7 per cent in 2028.

What have HRI and stakeholders had to say?

Suzanne Eade, HRI chief executive
The increases to race values announced for 2026 will go some way to addressing the competitiveness, but it is the first year of a three-year plan, and I am greatly encouraged by the manner of the engagement with industry stakeholders since summer 2025.

David Hyland, chairman of the Association of Irish Racehorse Owners
While owners’ contributions will rise in the short term, the ambition to grow prize-money to €85m by 2028 represents a positive step, and we look forward to continuing to play an active role in prize-money discussions into the future.

Paul Hensey, chief executive of the Association of Irish Racecourses
There are challenges for many racecourses and that will continue in 2026, but there was a strong sense among the membership of AIR that racecourses play a role in an industry-wide prize-money strategy.

Feidhlim Cunningham, Irish Racehorse Trainers Association CEO
We have been open about the financial pressures facing our members amid rising costs and the importance of maintaining our position on the international stage. We commend the HRI board for prioritising prize-money in their 2026 budget and beyond.

Read more here

Prize-money increases, details of Tipperary investment and more funding for equine welfare - HRI's budget for 2026 explained 

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