RWWA INTRODUCES CREDIT SCHEME FOR WA THOROUGHBRED BREEDING INDUSTRY

20
Jul

Racing and Wagering Western Australia (RWWA) is supporting race winning mares in Western Australia through Westspeed EPONA, a credit scheme designed to enhance the local thoroughbred breeding industry in WA.

Through the scheme, 10% of prizemoney will be accumulated as a line of breeding credit, by any filly or mare who wins a WA race, excluding community meetings, to a maximum of $10,000.

Westspeed EPONA forms part of RWWA’s $6.8 million in additional Westspeed funding, to boost the thoroughbred breeding industry from FY21 to FY23.

RWWA has brought the initiative forward to support the breeding environment following COVID-19, with fillies and mares accumulating credits from 1 August 2019 available to be redeemed from the 2020 breeding season, to use towards Westspeed Platinum Stallion service fees for their first two seasons at a stud or three years – whichever is the lesser.

“The EPONA credit scheme is designed to assist breeders with covering the costs of Westspeed Platinum Stallion service fees as well as encourage more mares to go to stud in, and race, in WA,” said RWWA Manager Commercial Racing and Planning David Hunter.

“Through the scheme encouraging investment in the WA breeding and racing industry, as well as rewarding owners and breeders who invest in locally bred horses, it will also raise the value of locally owned and raced mares.”

“Providing added bonuses to those who breed and race locally bred horses at all levels of racing, not only distributes additional income to more owners, but provides them with further incentive for re-investment in the industry.”

The 10% breeding bonus is provided in addition to prizemoney won by WA mares and fillies, and can only be redeemed through the payment of Westspeed Platinum Stallion services fees.

Payment of breeding credits can be redeemed from 1 August 2020.

For more information on Westspeed EPONA, click here.