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

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Horse Racing Ireland released details of its budget for 2026 on Friday, including improved prize-money, more investment in equine welfare, and confirmation of how much the state body will pump into the new all-weather track being built at Tipperary. 

There was no increase in funding from the Irish government towards horseracing in its latest budget, with the figure remaining at €79.3 million, the same as for 2025. 

So, where is the money from HRI going next year? 

Prize-money up, but by how much? 

Despite no extra help from the government next year, prize-money will increase by six per cent to €74.7m next year, an extra €4.2m on the 2025 fund. 

Feidhlim Cunningham, chief executive of the Irish Racehorse Trainers Association, said recently that the "number-one priority for the industry remains prize-money" – and HRI has listened. 

Prize-money increased by only €1m for 2025, despite the government upping its investment by more than €3m, so news of an additional €4.2m being pumped into purses next year will be a welcome surprise for owners and trainers. 

The figure of €74.7m represents the biggest prize-money fund Irish racing has ever seen. Details of the prize-money strategy will be announced early in the new year, together with revised race values for 2026, which will commence on March 1.

How much is going to the new all-weather track?

Work on a second all-weather course in Ireland is due to start early next year, and HRI is set to spend in the region of €20m-€24m on the project at Tipperary, which is expected to host fixtures in its new guise in the final quarter of 2027. 

There is provision in the 2026 budget for grant aid for capital developments at racecourses under a new scheme launched this year, and the expectation is that HRI will fund that €20m-€24m by providing 40 per cent grant aid over a five-year period, underpinning total capital investment of €50m-€60m by racecourses on their public-facing and industry facilities.

What's the story with equine welfare? 

An extra €1m will be invested in welfare activities, bringing the figure to €4.6m for 2026. 

Funds will be directed towards the equine safety racecourse capital development project and the future redevelopment of the Irish Equine Centre. 

HRI will continue to support the Irish Horse Welfare Trust and Treo Eile. 

Any extra investment in integrity?

Integrity funding is set to increase to €17.8m, an increase of €0.5m on the forecast spend of €17.3m this year.

And how about education and training?

A figure of €2.6m will be allocated to education and training in 2026, which will support all sectors of the industry. This includes funding for the first phase of the redevelopment of the National Equine Campus, which will result in enhanced training and educational facilities along with a high-performance unit and rehabilitation facilities for jockeys. 

Will point-to-points get any extra cash?

No. The investment of €2.7m is consistent with the figure allocated in the budget for 2025. 

How did breeders fare?

HRI will provide for €1.5m in vouchers in 2026, up by €0.2m from this year, for qualifying winners that can be spent on Irish-bred horses at Irish auctions in 2026 and 2027.

Anything else of note?

HRI has assigned €3m to digital strategy and IT transformation projects for 2026. This is to continue the implementation of HRI’s and IHRB’s combined digital strategy, delivering modern digital platforms and providing an integrated and responsive IT environment. This investment will enable improvements in key business processes and provide the foundation for the implementation of a consumer-focused digital strategy. 

The budget prioritises enhancing customer experience, and also suggests investment is required to enhance terrestrial TV and streaming viewer numbers, and to grow racecourse attendances. We're also told there will be a particular focus on driving engagement with Flat racing through marketing and customer-focused initiatives.

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