HAVE HORSE, WILL TRAVEL - FIRST QUARTER 2026
WORDS: LISSA OLIVER+ EARLY CLOSING AUCTION RACES
Closing 13th January are the Harry's Half Million By Goffs (Class 2) 1200m (6f) York, Thursday 20th August, the €114,271 (£100,000) Tattersalls Somerville Auction Stakes (Class 2) 1200m (6f) Newmarket, Saturday 22nd August, and the €171,400 (£150,000) Tattersalls October Auction Stakes (Class 2) 1400m (7f) Newmarket, Saturday 3rd October. Closing 4th February is the €250,000 (£218,777) Tattersalls Ireland Super Auction Sale Stakes 1200m (6f) Curragh, Sunday 13th September. Closing 24th February are the €285,700 (£250,000) Weatherbys Super Sprint Stakes (Class 2) 1000m (5f) Newbury, Saturday 18th July, and the €262,500 (£300,000) Weatherbys Scientific Two-Year-Old Stakes (Class 2) 1200m (6f) Doncaster, Thursday 10th September.
With changes to the conditions of Royal Ascot's Windsor Castle Stakes, Newbury's Weatherbys Super Sprint Stakes is becoming an increasingly popular target, limited to juveniles who cost no more than €74,062 (£65,000) at the sales.
Closing 4th March is the €75,000 (£65,600) EBF Median Auction 1200m (6f) at Naas 3rd August. And entries for the €75,000 (£65,600) Three-Year-Old Median Auction 1800m (9f) at Gowran Park close 11th March, the race itself run on Bank Holiday Monday 1st June.
+ EARLY CLOSING RACES - IRELAND
There are only four Flat races to be aware of up until April, closing 18th February the Irish Lincolnshire Premier Handicap 1600m (8f) four-year- olds up, Curragh 15th March. The 2000m (10f) Gp.1 Tattersalls Gold Cup four-year-olds up at the Curragh closes 18th March, run 24th May, and closing 25th March the 2000m (10f) Gp.3 Alleged Stakes four-year-olds up, and 1600m (8f) Gp.3 Park Express Stakes three-year-old up fillies and mares, both at the Curragh 19th April.
+EARLY CLOSING FLAT RACES - BRITAIN
Closing 20th January, William Hill Lincoln (Heritage Handicap) (Class 2) 1600m (8f) four-year-olds up, Doncaster Saturday 28th March. Closing 24th February, Gp.1 Betfred Derby 2400m (12f) three-year-olds, Epsom Saturday 6th June. Closing 3rd March, Gp.1 Betfred 2000 Guineas Stakes 1600m (8f) three-year-olds, Newmarket Saturday 2nd May. Closing 3rd March, Gp.1 Betfred 1000 Guineas Stakes 1600m (8f) three-year-olds, Newmarket Sunday 3rd May. Closing 24th March, Virgin Bet Queen's Cup (Class 2 Heritage Handicap) 2600m (1m5f) four-year-olds up, Musselburgh Thursday 21st May.
A busy day of entries at the end of March, when several May races close 31st March, notably York May meeting 13th to 16th May, Gp.2 1895 Duke Of York Clipper Stakes 1200m (6f) three-year-olds up; Gp.2 Al Basti Equiworld Dubai Dante Stakes 2000m (10f) three-year-olds; Gp.2 Al Basti Equiworld Dubai Middleton Fillies' Stakes 2000m (10f) four-year- olds up; Gp.2 Boodles Yorkshire Cup Stakes 2600m (13f) four-year-olds up. And at Newbury Saturday 16th May, Gp.1 Lockinge Stakes 1600m (8f) four-year-olds up.
Among the early closing Flat races is The Derby, which has received a significant boost in prize money for 2026. It is now worth €2.28m (£2m), alongside the King George VI & Queen Elizabeth Stakes, the joint-richest race in Britain. Prize money will now extend to the first 10 places and last year's trial of 72-hour declarations will become permanent.
The Coolmore-sponsored Coronation Cup has also been enhanced, moving to Derby Day on the Saturday and more than doubling its prize money to €1.14m (£1m). Epsom Downs General Manager, Jim Allen, says, "The 'Original Derby' [is] a race which is widely regarded as the most important two and a half minutes in the racing and breeding industry, shaping pedigrees, stallion careers and bloodstock markets for generations. Since the first running in 1780, The Betfred Derby has not only established itself as the definitive test of the thoroughbred, but as a race so prestigious that its name has been adopted worldwide."
Andrew Cooper, Head of Racing and Clerk of the Course at Epsom Downs, explains, "The Betfred Derby is the pinnacle of any Flat trainer or jockey's career. It is vital that we continue to do everything we can to maintain its status and prestige. We want to ensure that we are hosting competitive racing, not just in our feature races, but across the two-day festival. We had clear objectives in this regard, with our key aim to produce races that suit the wide demographic of horses currently in training. We are also hugely grateful to Michael Tabor, Derrick Smith and John Magnier from Coolmore for their support of the Coronation Cup. By more than doubling its prize money and giving it a prime place on the Saturday we are demonstrating our commitment to promoting it as one of the outstanding middle-distance races for older horses."
+ROYAL ASCOT
Looking further ahead and whilst not closing until the next quarter, the Gp.2 Norfolk Stakes will move from its traditional slot on the Thursday to the Saturday of the Royal meeting.
+CAGNES-SUR-MER - FRANCE
The season at the beachside Hippodrome Côte d'Azur runs from 1st December to 24th February with both National Hunt and Flat. The Flat highlight on turf is the 1500m (7f) Listed Prix de la Californie for three-year-olds on Sunday 22nd February, with an approximate value (tbc) of €46,000 (£40,000); while on the All Weather is the Listed Prix Saonois Finale Polytrack Challenge, 1600m (8f) for four-year-olds up, with a similar value.
The 2000m (10f) All-Weather Prix Ace Impact (Newcomers Race) for three-year-old colts and geldings usually attracts good debutants with a view to the Classic trials and last year was worth €23,000 (£20,000).
+GERMANY
Two important changes have been made in Germany for 2026, as Managing Director of Deutscher Galopp, Daniel Krüger, tells us. "Prize money for all Listed races has increased by at least 20%, to a minimum of €30,000 (£26,250) for every Listed race in Germany, with several racecourses voluntarily adding to the prize money. There will be one Listed race valued at €40,000 (£35,000) and several at €35,000 (£30,600)."
The Listed races include the 2400m (12f) Grand Prix Aufgalopp, Cologne, four-year-olds up Sunday 29th March, and on Sunday 19th April at the Hoppegarten, Berlin, the 2800m (14f) Altano- Rennen four-year-olds up, the 2000m (10f) Preis von Dahlwitz four-year-olds up, and the 1600m (8f) Hoppegartener Fillies Mile four-year-olds up fillies and mares. At Düsseldorf Saturday 25th April is the 1600m (8f) Henkel Stutenpreis for three-year-old fillies, with a further seven Listed races to look out for in May, and a total of 36 throughout the season.
A very positive change has also been made to the German entry system for all Group 3 races. Krüger explains, "We looked at how our colleagues elsewhere organised entries and our long-term plan for 2027 is to match France and Ireland. For our Group 3 races in 2026, with the two exceptions of our most prestigious two-year-old races the Preis des Winterfavoriten and the Preis der Winterkönigin for fillies, first entry stage will now be just five weeks before the race and second entry the week before, with only two entry stages instead of three.
Entry fee will still be 2% of prize money because that income is very important and is needed by the racecourses. The entry fee is a big part of the prize money, together with gate money from attendances, as sponsorship in Germany is very hard to obtain. But in shortening the entry date we are responding to feedback from owners and trainers and we hope our Group 3 races will be more attractive when planning entries. If it works well, we will extend this to 2027."
The popular winter season, attracting large fields, moves to the All Weather at Dortmund for six Sunday racedays up to 22nd February, with some feature handicaps worth €7,000 (£6,000). Dortmund Managing Director, Oliver Sauer, points out, "It shows that these winter racedays are of great importance." An interesting early season opportunity is the 1600m (8f) Gp.3 Grosser Preis der Wohnstatte Krefeld - Dr Busch-Memorial for three-year-olds at Krefeld Sunday 26th April, last year worth €50,000 (£45,000).
The showcase meeting is at Hamburg in July, when the Gp.1 €650,000 (£569,000) German Derby 2400m (12f) is run Sunday 5th July, entries for which closed 2nd December. However, there is free late entry offered to the four first placed horses in The Derby, Epsom, Prix du Jockey Club, Chantilly, Japanese Derby, Tokyo, The Oaks, Epsom, and Prix de Diane, Chantilly. Free late entry is also offered to the winners of the Dante Stakes, York, and King Edward VII Stakes, Royal Ascot. Late entry is possible until noon 29th June. On the supporting card are two €52,000 (£45,500) auction races for three-year-olds offered as yearlings at a public auction of BBAG or cooperation partners in the auction ring in 2024. The BBAG Meiler Auction Race 1600m (8f) and the BBAG Steher-Auktionsrennen 2200m (11f).
+ABU DHABI - UAE
The 2000m (10f) right-handed turf track has a 400m (2f) straight and has in the past mainly staged races for Purebred Arabians, but Saturday 7th February 2026 will see the inauguration of the nicely- placed €857,000 (£750,000) Listed Abu Dhabi Gold Cup 1600m (8f) for four-year-olds up. December's 1400m (7f) HH The President Cup serves as a stepping stone and Super Saturday at Meydan falls three weeks later. A partnership with Churchill Downs means that the winner of the 2026 Gr.1 Turf Classic Stakes on Kentucky Derby Day will receive an automatic invitation to the 2027 Abu Dhabi Gold Cup, which will no doubt enjoy enhanced status in the years to come.
+DUBAI - UAE
The Dubai Racing Carnival opened in November at Meydan, hosting 15 meetings throughout the season, which concludes 28th March with the 30th anniversary of the €28m (£24m) Dubai World Cup meeting. The Gp.1 highlights of the €10.2m (£8.93m) World Cup supporting card are the €1.4m (£1.2m) 1200m (6f) Al Quoz Sprint on turf, the €1.8m (£1.6m) 1200m (6f) Dubai Golden Shaheen on dirt, the €4.6m (£3.9m) 1800m (9f) Dubai Turf, and the €5.5m (£4.7m) 2410m (12f) Dubai Sheema Classic on turf. Prior to that, Super Saturday 28th February offers an evening of ideal prep races for the World Cup.
The Dubai Racing Club selection committee will only consider horses rated 105 and above for travel subsidies. Additionally, two- year-olds of 2025 and three-year-olds of 2026 will be entitled for shipping subsidies if they finish in the first three in any Meydan pattern races or if they achieve a rating of 95 and above at the end of the Carnival.
+HONG KONG
Champions Day is held at Sha Tin 26th April 2026, with three Gp.1 races, the €3.3m (£2.9m) QEII Cup 2000m (10f), the €2.6m (£2.3m) Champions Mile 1600m (8f) and the €2.6m (£2.3m) Chairman's Sprint Prize 1200m (6f). Connections of selected overseas horses for Hong Kong's seven feature Group 1 races, including those in April, will enjoy travel and accommodation packages provided by the Hong Kong Jockey Club. Flights will be provided for the owner plus one, trainer plus one, and the jockey, as well as two persons per horse (groom, exercise rider, etc) and five nights hotel accommodation for each of those listed. This also includes free transfers from the airport and transport between the official hotels and Sha Tin Racecourse for morning track work and race meetings, plus transport between the official hotels and the venues for official functions. The Club also offers shipping incentives to selected overseas horses, covering the costs of return transport by road from home stable to departure airport, and return air transport for each selected horse.
The Quarantine Stables are located at Sha Tin Racecourse, 45 minutes from Hong Kong International Airport. The Club strongly recommends shipping horses at least eight days before the date of the race to allow for the recovery from, and appropriate treatment of, any potential travel-related illness. During the 90 days prior to export to Hong Kong, but not within 14 days, a horse must be administered either a primary course of approved vaccinations against equine influenza comprising at least two doses with an interval of four to six weeks (or according to the terms of vaccine registration with the relevant government authority) or a booster vaccination given within 12 months of a primary course.
During the 14 days prior to export, specific disease testing is to be performed. No less than 10 days prior to a horse departing for Hong Kong, irrespective of the country in which the horse is located at the time, the trainer must submit the First Medication Declaration Form (MDF1) to the Club via the online Equine MediRecord system. Between six days (maximum) and three days (minimum) a pre-travel veterinary inspection must be performed by a Club-approved veterinary surgeon. At the time of this inspection, the inspecting veterinary surgeon must obtain from the horse's trainer a completed and signed copy of the Second Medications Declaration Form (MDF2), which records any additional medications administered to the horse since the submission of the First Medications Declaration Form (MDF1). It should be noted that nasal dilators and drop nosebands are not permitted to be used on horses in Hong Kong.
+AUSTRALIA
The Sydney Autumn Racing Carnival runs from Saturday 14th March to Saturday 18th April 2026, offering six racedays worth over €26.25m (£22.9m) at Royal Randwick and Rosehill Gardens. The feature Gp.1 races at Royal Randwick are the €428,312 (£374,245) Canterbury Stakes 1300m (6f) three- year-olds up, 7th March, the €2.85m (£2m) Doncaster Mile 1600m (8f) three-year-olds up, 4th April, the €2.85m (£2.5m) Queen Elizabeth Stakes 2000m (10f) three-year-olds up, 11th April, the €1.14m (£990,000) Sydney Cup 3200m (16f) three- year-olds up, 11th April, and the €857,100 (£748,857) All Aged Stakes 1400m (7f) two-year-olds up, 18th April. At Rosehill Gardens the feature Gp.1s are the €571,416 (£499,173) Coolmore Classic 1500m (7f) fillies and mares, 14th March, the €571,416 (£499,173) George Ryder Stakes 1500m (7f) three-year-olds up, 21st March, and the €857,100 (£748,857) H E Tancred Stakes 2400m (12f) three-year-olds up, 28th March.
+SAUDI ARABIA
In February the 41st Asian Racing Conference will be held at the Crowne Plaza Riyadh RDC Hotel and Convention Centre, Riyadh, for the first time, coinciding with the 2026 Saudi Cup meeting. With the theme "Honouring Tradition Shaping The Future", the Jockey Club of Saudi Arabia (JCSA) and the Asian Racing Federation will welcome delegates from all over the world between 9th and 14th February for the conference. The Saudi Cup race meeting, the JCSA's marquee event, takes place at King Abdulaziz Racecourse on 14th February and features the world's richest race.
Saudi Arabia has been granted a number of race upgrades at Riyadh, including the country's first top tier race on turf, with the Saudi Cup day €1.7m (£1.49m) Neom Howden Turf Cup, 2100m (10f), granted Group 1 status for 2026. This brings the tally of topflight contests on the day to three, with an undercard including three Group 2s, one Group 3 and the newly Listed Tuwaiq Cup.
In addition, the 1600m (8f) Gp.3 Saudi Derby on The Saudi Cup undercard has been added to 'The Road to The Kentucky Derby' and runners in The Saudi Derby will now be eligible to collect points for the Kentucky Derby. The €1.28m Saudi Derby will have a maximum of 30 points available to the winner to try and qualify for the Gp.1 Kentucky Derby at Churchill Downs on Saturday 2nd May.
The highlight remains the €17m (£14.9m) 1800m (9f) Saudi Cup, with prize money down to 10th place, run on the King Abdulaziz dirt track, the final event of Saturday's eight-race card. The 1351m (7f) Turf Sprint, the 1600m (8f) Saudi Derby, the 1200m (6f) Riyadh Dirt Sprint and the 3000m (15f) Red Sea Turf Handicap support the big race.
Adding international flavour to the Friday card is the 2100m (10f) €462,235 (£393,255) Saudi International Handicap confined to horses trained within the IFHA-registered Part II and III racing countries, which should be of interest to the relevant European countries. (Part II nations Bahrain, India, Italy, Korea, Malaysia, Panama, Puerto Rico, Saudi Arabia, Scandinavia, Singapore, Turkey, Uruguay, Venezuela, and Zimbabwe. Part III nations Belgium, Czech Republic, Dominican Republic, Ecuador, Hungary, Jamaica, Mauritius, Mexico, Morocco, Poland, Qatar, Slovakia, Spain, Switzerland, and Trinidad & Tobago.)
Stabling, quarantine and training facilities are provided at all of the racecourses, subject to availability, and invited connections at King Abdulaziz Racecourse are provided with complimentary access to the Howden Owners & Trainers Lounge, and dining in the Al Thuraya Trackside Restaurant.
The Jockey Club of Saudi Arabia can arrange transport for delegates and guests between venues, with international airports close by. Riyadh Airport Marriott Hotel is a 5-star hotel five minutes from King Khalid International Airport and ten minutes from the racecourse. The Radisson Hotel Riyadh Airport is close to the airport and 15 minutes from the racecourse. The Equine Hospital in Riyadh provides advanced care in diagnostic procedures, treatment, emergency care and hospitalisation for equine patients, open around-the-clock every day of the year for emergency and critical care cases.
+AMERICAN TRIPLE CROWN
The North American Triple Crown is proving to be attainable and each leg is attracting foreign attention. The 2000m (10f) Kentucky Derby kickstarts the dream Saturday 2nd May at Churchill Downs and two weeks later 16th May the 1800m (9f) Preakness Stakes run this year at Laurel Park in Baltimore will either keep it alive or end it. Three weeks later, 6th June, the 2000m (10f) Belmont Stakes brings it to a close, run this year at Saratoga in upstate New York.
The €4.26m (£3.74m) Gr.1 Kentucky Derby has a tiered point system in select races to determine which 20 horses qualify to run. The Road to the Kentucky Derby is a series of designated races in which points are awarded to the top five finishers. Points increase with the quality of each race.
The 20 horses with the most points will earn a spot in the starting gate. The series includes the Japan Road to the Kentucky Derby and the European-Middle East Road to the Kentucky Derby. In Europe, the Beresford Stakes, Royal Lodge Stakes, Prix Jean- Luc Lagardere and Futurity Stakes provided points last year, and the three-year-old races outside of America include the UAE 2000 Guineas 25th January, Saudi Derby 14th February, Dubai Road to the Kentucky Derby Stakes 20th February, Road to the Kentucky Derby Condition Stakes at Kempton Park 25th February, The Patton at Dundalk 6th March, and the UAE Derby 28th March. Horses must be nominated for the Triple Crown series by the deadline in late January of their three-year-old year, but may still be entered by paying a larger supplemental fee.
Have horse will travel - this quarter we focus on opportunities in Dubai, Saudi Arabia, Qatar and Hong Kong
Article by Lissa Oliver
Hong Kong
While the celebrated Champions Day and Longines International races attract plenty of attention globally, all 31 Group races run in Hong Kong are open to overseas entries and include x12 established Group 1 contests, x7 Group 2 and x12 Group 3 races.
Prize money for Group 1 races ranges from HK$13 million (€1.5m/£1.3m) to HK$40 million (€4.6m/£3.84m), while Group 2 races are worth HK$5.35 million (€622,000/£530,000), and Group 3 races offer HK$4.2 million (€493,000/£420,000). The Group 1 contests include prize money down to sixth place and all are open to three-year-olds and up and run on Turf at Sha Tin.
The Triple Crown includes a bonus of €1.1m/£1m to be paid to the owner of the horse that wins all three legs of the Triple Crown. The opportunity opens with the 1600m (8f) Stewards Cup worth €1.48m/£1.2m, Sunday 19th January 2025. Free entries for international runners close 25th December and supplementary entries close 16th January 2025.
The second leg of the Triple Crown is the Hong Kong Gold Cup on Sunday 23rd February 2025 over 2000m (10f), worth €1.48m/£1.2m. Free entries close 27th January 2025 and supplementary entries close 11th February 2025.
The final leg of the Triple Crown is on Sunday 25th May 2025, the 2400m (12f) Champions & Chater Cup, with a purse of €1.48m/£1.2m. Free entries close 27th April 2025 and supplementary entries close 11th May 2025.
Another bonus available is for the winning horse of all three legs of the Hong Kong Speed Series. Sunday 19th January 2025 sees the 1200m (6f) Centenary Sprint Cup, the first leg of the Hong Kong Speed Series, worth €1.48m/£1.2m, with free entries closing 30th December 2024 and supplementary entries closing 13th January 2025. A bonus of €580,000/£500,000 will be paid to the owner of the horse that wins all three legs of the Hong Kong Speed Series.
Sunday 23rd February 2025 is the 1400m (7f) Queen’s Silver Jubilee Cup, the second leg of the Hong Kong Speed Series, carrying prize money of €1.48m/£1.2m. Free entries close 30th January 2025 and supplementary entries close 16th February 2025.
The 1200m (6f) Chairman’s Sprint Prize is the final leg of the Hong Kong Speed Series, worth €2.5m/£2.2m, run on Sunday 27th April 2025, free entries closing 16th March 2025 and supplementary entries closing 6th April 2025.
The Hong Kong feature event is the Longines Hong Kong International Races on Sunday 8th December, billed as the epitome of elegance and speed, featuring elite jockeys and the world’s best horses. As well as four Group One races on the day, racegoers can enjoy a variety show, live music, exquisite cuisine and a vibrant party atmosphere. Free entries for the major races on the day close 21st October and supplementary entry closes 18th November at €27,804/£23,690.
The four Group 1 races are the €2.78m/£2.31m Hong Kong Vase over 2400m (12f); the €3.01m/£2.51m 1200m (6f) Hong Kong Sprint; the €4.17m/£3.48m 1600m (8f) Hong Kong Mile; and the €4.63m/£3.86m 2000m (10f) Hong Kong Cup.
Sunday 27th April 2025 sees FWD Champions Day, one of Hong Kong’s most popular sports events. Featuring three prestigious Group 1 races on the day, free entries closing 16th March 2025 and supplementary entries closing 6th April 2025, it provides local racing fans with the chance to see how the city’s top horses shape up against their overseas counterparts.
The 1600m (8f) Champions Mile is worth €2.76m/£2.3m; the 2000m (10f) QEII Cup is worth €3.2m/£2.7m; and the aforementioned 1200m (6f) Chairman’s Sprint Prize is the final leg of the Hong Kong Speed Series.
The Hong Kong Jockey Club offers shipping incentives to selected overseas horses for the seven feature Group 1 races (Longines Hong Kong Cup, Longines Hong Kong Mile, Longines Hong Kong Sprint, Longines Hong Kong Vase, FWD QEII Cup, FWD Champions Mile and Chairman’s Sprint Prize). The Quarantine Stables are located at Sha Tin Racecourse, 45 minutes from Hong Kong International Airport.
The stable blocks are temperature controlled, with rubber flooring throughout and monitored by closed circuit television. Each stable is equipped with a feed manger and tie up ring.
The isolation stables compound includes rubberised horse walkers, sand rolls, weighing scales, wash bays, ice machines, freezers and an all-weather arena. Paper strips and shavings are available for bedding.
The Club imports feed from Australia, China, New Zealand, South Africa, the UK and the USA, and large selections of proprietary feeds are also available. The Club has excellent stocks of Timothy Hay, Lucerne Hay and Chaffs. Importation of feed and water, subject to examination, is permitted, however the import of plant material such as hay and chaff is subject to a valid Phytosanitary Certificate issued by the exporting country.
Connections of selected overseas horses for Hong Kong’s seven feature Group 1 races will enjoy travel and accommodation packages provided by the Hong Kong Jockey Club, two tickets each for the owner and trainer and one ticket for the jockey. Four nights hotel accommodation (room only) will be provided for a maximum of two persons per category at the Club’s selected hotel. All airport and racecourse transfers are also included.
For staff, a maximum of two persons per horse will also be provided with accommodation (one room each) at the Club’s selected hotel in Sha Tin for the normal duration of the trip. A predetermined daily allowance to cover in-house expenses such as food and beverages, transport, telephone and internet, as well as laundry, will also be provided. All airport, stabling facilities and racecourse transfers are also included.
For those visiting, the five-star Hyatt Regency at Sha Tin provides an urban resort with a luxury spa, adjacent to the University MTR Station in Sha Tin, with lush greenery only steps away from busy urban areas.
Dubai
The Dubai Racing Carnival, now in its 20th year and given a new look for last year’s season, opens in November at Meydan Racecourse. Alongside top-class racing, Meydan boasts five-star dining and live entertainment and is 15 minutes from Dubai’s central hub. The racecourse offers tailored hospitality packages at the restaurants, lounges and private suites, all with elevated views of the racing. The climate is also described as “pleasant” during the winter season.
Home of the €28.1m (£24m) Dubai World Cup meeting, Meydan is the world’s largest integrated racing facility and hosts 15 meetings throughout the season, concluding in early April with the Dubai World Cup, the highlight of Dubai’s sporting and social calendar.
There are a number of valuable opportunities all season, beginning in November with the €125,600 (£106,912) Listed Dubai Creek Mile on dirt for three-year-olds up. January is busy, with 11 black type races from 1000m (5f) up to 2810m (14f) and ranging from €125,600 (£106,912) for Listed up to €213,489 (£181,719) for Group 2s and €924,282 (£786,662) for the Group 1 Al Maktoum Challenge, 1900m (9f) on dirt. On turf, the Group 1 Jebel Hatta, 1800m (9f) carries a purse of €464,658 (£395,469).
The 2025 Carnival sees the introduction of The Dubai World Cup bonus scheme, which offers a total prize pool of €3.5m (£2.9m) across 10 races. Winners of these races will get automatic entry to Dubai World Cup night.
An additional 10% bonus is awarded to horses that win both the qualifying race, and the corresponding race on Dubai World Cup night.
The scheme has been created to encourage more owners and trainers to prepare their horses in Dubai ahead of the Dubai World Cup.
Fifteen black type races from Listed up to Group 2 are run at Meydan during February and March, again from 1000m (5f) to 2810m (14f) and with similar valuable prizes, all of which lead through to the end-of-season highlight of Dubai World Cup night.
The Group 1 Dubai World Cup itself will be run a week later than normal next year on April 5th and the feature race will be worth €10.7m (£8.9m)
The highlights of the supporting card’s Group 1s are the 1200m (6f) Al Quoz Sprint on turf worth €1.4m (£1.2m), the 1200m (6f) Dubai Golden Shaheen on dirt worth €1.8m (£1.6m), the 1800m (9f) Dubai Turf worth €4.6m (£3.9m), and the 2410m (12f) Dubai Sheema Classic on turf worth €5.5m (£4.7m).
In 2025 the UAE Derby, worth €900k (£745k), will form the final leg of the revised Euro/Mideast Road to the Kentucky Derby. The winner of the race will get an automatic spot in the starting gate at Churchill Downs on the first Saturday in May - subject to the horse being nominated to the U.S Triple Crown series.
Elsewhere in the UAE, the Abu Dhabi Equestrian Club hosts the Listed 1600m (8f) Sheikh Zayed bin Sultan Al Nahyan National Day Cup in December, and the Listed 1400m (7f) HH The President Cup, both on turf with a prize of €95,443 (£81,242) each. Jebel Ali Racecourse hosts the Listed Jebel Ali Sprint, the third leg of the Emirates Sprint Series, 1000m (5f) on dirt for a prize of €125,600 (£106,912), and the Group 3 Jebel Ali Mile on dirt, €175,840 (£149,677).
Saudi Arabia
Since its inaugural running in 2020, The Saudi Cup has rapidly become a major international race and in 2025 Saudi Cup Weekend at King Abdulaziz Racecourse in Riyadh will have total prize money of over €34.68m (£29.5m) on offer, including the 1800m (9f) Group 1 Saudi Cup itself worth €18.5m (£15.73m). The meeting, at the end of February, is also Riyadh’s social event of the year, offering visiting racegoers a taste of the finest style, culture and hospitality of Saudi Arabia.
The two days of top-quality racing include an International Jockeys Challenge, two Group 1 Purebred Arabian races, the €462,235 Al Tuwaiq Cup for locally-trained horses and dirt and turf races culminating in the Group 1 Saudi Cup, the world’s richest race, run on the King Abdulaziz dirt track, the final event on Saturday’s eight-race card.
Adding international flavour to the Friday card is the 2100m (10f) €462,235 (£393,255) Saudi International Handicap confined to horses trained within the IFHA-registered Part II and III racing countries, which should be of interest to the relevant European countries. (Part II nations Bahrain, India, Italy, Korea, Malaysia, Panama, Puerto Rico, Saudi Arabia, Scandinavia, Singapore, Turkey, Uruguay, Venezuela, and Zimbabwe. Part III nations Belgium, Czech Republic, Dominican Republic, Ecuador, Hungary, Jamaica, Mauritius, Mexico, Morocco, Poland, Qatar, Slovakia, Spain, Switzerland, and Trinidad & Tobago.)
With prize money down to 10th place, The Saudi Cup serves to raise the profile of racing to local communities, as well as foreign fans and professionals. The Jockey Club of Saudi Arabia was formed in 1965, but the founding of The Saudi Cup and the 1800m turf track at King Abdulaziz Racecourse has seen Saudi Arabia upgraded from Part III to Part II by the IFHA and is likely to achieve Part I status in the near future.
2022 saw the first international Pattern races held as part of The Saudi Cup weekend. The 2100m (10f) Neom Turf Cup, the 1351m (7f) Turf Sprint, the 1600m (8f) Saudi Derby, the 1200m (6f) Riyadh Dirt Sprint and the 3000m (15f) Red Sea Turf Handicap were all promoted to Group 3, while the Saudi Cup became Group 1.
With more than 70 international horses, The Saudi Cup hosts more international runners than any other race meeting. Stabling, quarantine and training facilities are provided at all of the racecourses, subject to availability, and invited connections at King Abdulaziz Racecourse are provided with complimentary access to the Howden Owners & Trainers Lounge, and dining in the Al Thuraya Trackside Restaurant.
The Jockey Club of Saudi Arabia can arrange transport for delegates and guests between venues, and the racecourses have plentiful free parking with international airports close by. Riyadh Airport Marriott Hotel is a 5-star hotel five minutes from King Khalid International Airport and ten minutes from the racecourse, with a restaurant, gym and outdoor pool. The Radisson Hotel Riyadh Airport is close to the airport and 15 minutes from the racecourse, with spacious rooms, duplexes and villas, as well as restaurants and leisure facilities.
The Equine Hospital in Riyadh provides advanced care in diagnostic procedures, treatment, emergency care and hospitalisation for equine patients, open around-the-clock every day of the year for emergency and critical care cases.
Qatar
The 2023/24 racing season, running from mid-October through to the end of April, saw a rise in prize money and international runners, reflecting the commitment of the Qatar Racing and Equestrian Club (QREC) and the high standards of Al Rayyan and Al Uqda racecourses. Work will continue to ensure that the 2024/25 season will meet expectations and continue to raise standards. Al Rayyan at Doha is the premier racecourse and home to the state-of-the-art training centre. The turf track is 1800m (9f) and the sand track 1400m (7f).
Abdulla Al Kubaisi, QREC Racing Manager, says, “We organised 67 race days during the last season, including 45 on both turf and sand at Al Rayyan and the rest on both turf and sand at Al Uqda. We base the season on weather conditions and take into account the ratings of Arabians and thoroughbreds to ensure the largest possible number of horses have the opportunity to run in races, which suit their ages and abilities.
“The 2023-2024 season saw the prize money reach an unprecedented figure in QREC’s history, €22.2m (£18.9m), of which €19.8m (£16.8m) was offered by the races held at Al Rayyan and the remainder at Al Uqda. This contributed to raising the standard, enhancing the stature of the Festival in the region and attracting several runners from European and Asian countries. For the first time, the minimum prize money for a feature race was €30,442 (£25,900).”
Mid-February sees the highlight of the season, the Group 3 HH The Amir Trophy for four-year-olds and up, over 2400m (12f) at Al Rayyan, Doha, carrying a total purse of €2.3m (£2m) and worth €1.3m (£1.1m) to the winner.
How Does the Regulatory Environment for Pool Betting Impact on the Financial Health of Horseracing Around the World?
Simon Bazalgette, the founding Chair of specialist management consultancy GVS EQ, and Martin Purbrick, a founding GVS EQ associate, take a canter around the world to see how betting regulation, and particularly pool betting, has a vital impact on the relative level of prize money, and therefore the financial health of the sport.
For the last century and beyond, Horseracing has had a symbiotic relationship with betting, and this remains the case in most countries – to a greater or lesser extent. As a result, the financial strength of each national horseracing industry depends on the way that betting is regulated and owned in that country. An understanding of a national regulatory structure for betting is vital for any understanding the wide variation of prize money in different countries.
Pool betting, also known as ‘Tote betting’ or ‘pari-mutuel betting’, has long been associated with horse racing. Tote betting was established in the 19th century and involves all the amounts bet combined in a pool, from which the operator takes a cut, then the odds are calculated based on the proportions wagered on each outcome. Totalisator odds are different to fixed odds in that they are not set until the race begins, no more bets are accepted and the total amount in the pool is finalised.
Tote operators were created to harness wagering to support the sustainability of racing, the welfare of horses, as well as employment for the large numbers of people involved in the sport around the world. Horse racing is a high cost and capital intensive sport to organise and operate, and requires considerable sustainable funding to survive.
In markets with strong totes such as Japan, Hong Kong and France, racing generally does relatively well. In countries where other forms of betting have been licensed, racing can still do well if there is a fair balance of funding provided back to the sport from all types of betting. Australia would be a good example of this. In the US the position is rapidly changing from a pure racing tote market with the introduction of sports betting.
In the UK, the introduction of off course fixed odds betting in the early 1960s, with a relatively loose link to horseracing, has meant that British horseracing has lost pace with its fellow racing jurisdictions around the world when it comes to prize money and investment in the sport from the betting industry.
In South Africa and Australia there remains a mixed economy of fixed odds and pool betting. Australian racing has strong statutory support to ensure a meaningful percentage of betting revenues goes to horseracing ensures that prize money levels remain internationally competitive.
For many years there has been a steady but less than speedy process of the official totes connecting with each other to combine pools on racing – commonly known as commingling. There are several reasons for the slow progress, primarily the different bet types and conditions attached to similar bet types, but also the commingling technology (ITSP) which has been in place for more than 20 years but is still embedded in many heritage platforms. The most important development in commingling has been the World Pool, which is hosted by the Hong Kong Jockey Club.
In addition to the main national or state totes, there are a number of private pool operators who offer access to the pools particularly for large international players who offer significant liquidity to the market.
Some countries, particularly the Gulf States, do not have licensed betting of any sort, and the sport relies mainly on the financial support of the state, the royal families and rich owners.
To a large degree, the level of funding available for horseracing is dependent on the level of support that national or state regulations provide, particularly with regard to funding from betting, and therefore any attempt to assume that success in one country can be used as a template for another should be treated with great caution.
Let’s take a high level look at what this means for the major racing jurisdictions.
France
The French pool betting market is around €9 billion annually, the profits from which are reinvested back into the sport. It is notable for its wide retail distribution through the vast network of over 20,000 tabacs (tobacco and convenience stores) in the country.
Pool betting in France is primarily controlled and run by the PMU despite attempts to open up the market over the last decade or so. The PMU returns all its benefits to the 66 French horse racing companies organising gallop and trotting races (France Galop and Le Trot), sustaining more than 60,000 direct and indirect jobs throughout France.
In 2023, the PMU paid a total contribution of 835 million euros to France Galop and Le Trot. This financial contribution supported the operation of 233 racetracks and 26,000 horses in training.
Other types of betting operator have been licensed in France since 2010 but they remain heavily restricted and take only a very small share of the French horserace betting market.
Japan
The Japan Racing Association (JRA) is the custodian of horse racing and also tote betting at the national level. Pool betting on racing in Japan generated a betting turnover of over 2.5 trillion Yen (Euro 15 billion). The JRA is required to provide 10% of its gross betting turnover to the national treasury, as well as 50% of any surplus profits remaining at the end of the fiscal year. Three-quarters of the contribution must be used for improvement of livestock breeding and the JRA also contributes additional funds to horse breeding as well as the promotion of equestrian culture.
It is no coincidence that Japanese racing offers the largest pool of prize money in the world, given the JRA’s control of horserace betting in Japan under its vertically integrated sole licensed operator. Betting on other sports is also limited to only a small number of local sports such as bicycle, boat and motor racing.
The Japanese pool is restricted from commingling with other international pool operators, with only limited pilot trials having taken place to date. Typically this is driven by the presence of Japanese runners in overseas races, to allow Japanese punters to bet on these horses. When this does take place, it generally has a major impact because the level of Japanese betting will be significantly larger than the home pool.
Hong Kong
Hong Kong has vertically integrated racing and pool betting, operated by the Hong Kong Jockey Club (HKJC). It generates around HK$130 billion (€15 billion) in annual betting turnover, with the HKJC being the largest corporate taxpayer in Hong Kong, and operating one of the world’s largest and most active charitable trusts. All surplus funds after operating expenses are either reinvested in racing or passed to the HKJC Charities Trust.
Most recently, the HKJC has become the host of the most successful international pool betting initiative, the World Pool and involves a collaboration of over 25 racing jurisdictions allowing customers to bet into a single pool involving enormous liquidity. This enlarged liquidity ensures that there are less odds (price) variations in smaller betting markets and better value for all betting customers. In the 2023/24 racing season, there are 45 World Pool fixtures at racecourses around the world, and the number is likely to continue to grow.
By allowing international horseracing fans the ability to bet into one pool on the major group races around the world, it has created a significant additional betting revenue stream in other territories whereby, for example, racedays such as the Epsom Derby, Caulfield Cup and the Dubai World Cup benefit from the significant level of betting that can be generated.
United States
In the US, betting is regulated at the state level and historically was limited to pari mutuel betting on horseracing.
Alongside this there were some examples of licensed casinos or slots which would usually be allowed only on racecourses or designated casino sites. Where a racecourse had such additional betting, it would significantly increase the level of prize money that racecourse could offer compared to other US racecourses.
The first Off Track Betting (OTB) service for horseracing was licensed in New York State in the 1970s, and rolled out in a number of states thereafter. These have been superseded by account deposit wagering services (ADWs). Horseracing remained the prime beneficiary of the OTBs and ADWs until in 2018 a Supreme Court ruling opened up the potential for states to licence fixed odds sports betting and almost 40 states have now done so to some extent.
US horserace pool betting is dominated by the two major racetrack groups - Churchill Downs (through its Twin Spires service) and the Stronach group (through their 1/ST and Xpressbet services). The two groups also own two of the major tote tech companies, United Tote (CD) and Amtote (1/ST). Churchill recently announced that NYRA (the racing operator in NY State) had completed its purchase of a 49% stake in United Tote.
Licensed betting on horseracing remains around $10 billion pa but betting on other sports has grown to over $90 billion pa.
United Kingdom
The UK has arguably the most competitive licensing environment for betting in the world. The UK Tote was created by Winston Churchill (a Jockey Club member) in 1926 as an independent body run for the good of racing; but unlike other countries, its betting monopoly was ended in the early 1960s with the creation of licensed fixed odds betting shops. Also unlike elsewhere, British horseracing was given no control over the off-course market, but instead a statutory levy was created to ensure that a small proportion of the profits from betting on horseracing was passed through to contribute to the financing of the sport.
Since that time, pool betting has had a declining share of the betting market and currently represents around 10%. The UK is dominated by fixed odds operators, and while British punters have the widest choice of competitive bets in the world, they also benefit from the highest return on bets in the world. This means that pool betting, with its higher take-out rates, struggles to match the pricing for fixed odds for simple bets, but is more competitive in so-called exotic bets, particularly the Place Pot.
The Levy is currently set at 10% of gross margin on betting on domestic horseracing, which, due to the highly competitive market and the low margins, is the equivalent of around 0.7% of betting turnover, amongst the lowest return from betting to horseracing in the world.
There have been various attempts to bring the Tote closer to racing, either through transferring its ownership to the sport, or through a preferential sale to racing, but these attempts have all failed. In 2011, the Tote was nationalised and then sold to the bookmaker group, Betfred, who sold it on to its current owners (which includes several large owners and breeders) in 2018. The UK Tote has had a commercial arrangement with the British racecourses (via their shared on-course betting company, Britbet) which is due for renewal in 2025.
Horserace betting remains at a significant level in the UK, c£5bn pa, second in Europe to France, but due to the difference to the regulatory structures, the amount transferred to the sport is significantly lower than in France.
Australia
Australia is arguably the best example of a mixed economy of pool and fixed odds betting, all of which provides significant funding back into horseracing.
Each state and territory has its own regulatory authority for betting and racing. Betting is owned and run separately from the sport, and generates around €15 billion pa, which is pretty evenly split between pool betting and fixed odds.
Tabcorp Holdings, a public company, is the largest operator of pari-mutuel betting, running TAB-branded services across multiple states, and each state tends to have its own pool operator as well.
As in the UK betting operators are required to pay a proportion of their revenues to the sport, under what is known as Racing Fields regulations. The level required in Australia is significantly higher than the UK levy – typically between 1.5% and 3% of betting turnover - and allows Australian racing to offer prize money at the top end of international levels.
Ireland
The betting market in Ireland has many similarities to the UK. Betting on horseracing is around €1.1bn to €1.3bn each year, with Tote Ireland representing a small proportion (6%-7%). Betting operators pay a government levy which is paid over to the horseracing industry via Horse Racing Ireland (HRI), usually between €80m - €100m pa. This funding supports the development and promotion of the industry, racecourse maintenance and annual prize money of around €65m pa.
South Africa
South Africa is a market with a mixed economy between the original pool operator (the SA Tote, owned by Phumelela, the largest racecourse group) and fixed odds operators. Phumelela has arrangements in place with the National Horseracing Authority of South Africa to support prize money and the promotion of SA racing in the country.
Pool betting on horseracing is around €400m pa and represents around two thirds of the market, with fixed odds operators growing fast.
Conclusion
The financial contributions to racing from totes are a critical part of the sustainability of racing, supporting a huge number of jobs in the sport. However, the regulatory and tax structure for pool betting varies considerably around the world.
Most countries will have started from a similar position of the tote being the only form of licensed betting as explained by Sir Winston Churchill: “I have always believed that it was a good thing for the State to organise the totalisator and take control of this form of betting in order to eliminate illegal practices and to ensure that a proper proportion of the proceeds went to public purposes.”
The position in each country has diverged significantly over the last 100 years, and this means the impact on the funding for the sport is very different in each country. While there are areas of similarity, building greater collaboration between tote operators is a long road but one that can only benefit racing in the long term.
