News

BOBS Double-Up Puts $10million Into Horse Ownership

10th Jun 2010

Racing NSW - Thursday, 10 June 2010

Figures released today by Racing NSW show that since the BOBS Double-Up option was introduced in January 2006, $10million has been pumped directly into horse ownership.

“If ever we needed proof that our unique Double-Up offer is a runaway success, this is it,” said Racing NSW’s Chief Executive, Peter V’landys.

“That 10 million dollars in just over four years has stimulated thoroughbred breeding in NSW, made ownership more affordable, and placed more racehorses in trainers’ stables.

“So every section of the thoroughbred industry in this State has benefited enormously from BOBS Double-Up.”

The Double-Up option, where owners are able to forego the cash payout from a Breeder Owner Bonus Scheme win in favour of a voucher which doubles the money on the condition that it is used to buy another BOBS-eligible yearling, is proving to be increasingly popular.

In the first 10 months of the 2009-10 racing season 893 BOBS bonuses were won, and in 309 cases the owners preferred the Double-Up option to taking the cash. That represents more than one-third of all bonuses and is 57% higher than at the same time in the previous season.

Mr V’landys urged owners of horses which will be two-years-old on 1 August to make sure they nominate for BOBS and BOBS Extra before the closing date of 1 September 2010.

“When the Double-Up option is taken, Racing NSW pays out $36,000 in bonus money for winning a metropolitan Saturday race, $18,000 for a mid-week metropolitan race and $9000 for a country race,” he said.

“No-one can afford to miss out on a BOBS bonus.”