TOTAL prize money for Irish racing will rise by 6% in 2026 but the breakdown on how that €74.7 million will be distributed will not be published until the new year.

That was the headline item in Friday’s budget statement issued by Horse Racing Ireland [HRI] and the news was welcome by the representative bodies for both racehorse owners and trainers.

Announcing that there will be an additional €4.2 million in the prize money pot for next year, HRI said: “The HRI board has approved this record figure for next year and details of the prize money strategy will be announced early in the new year, together with 2026 revised race values, which will commence from March 1st. At the heart of this strategy is the delivery of a sustainable race programme and a competitive prize money distribution model. The budgeted number of race meetings in 2026 is 390.”

Feidhlim Cunningham, CEO of the Irish Racehorse Trainers Association, reacted to the news, saying: “The HRI budget announcement is warmly received by the IRTA, and we are very pleased to see the €4.2 million increase in prize money. It represents a significant step in the right direction for the sport.

“Both the IRTA and the Association of Irish Racehorse Owners [AIRO] have been open in the past about the challenges our members face due to inadequate prize money against a backdrop of inflation and ever-rising costs. This increase shows that those concerns have been heard and acted upon and we commend HRI for prioritising prize money in their 2026 budget. Today’s announcement is a very positive one and sends a strong message that Irish racing is moving in the right direction again.”

David Hyland, chairman of AIRO, added: “We welcome the news of the prize money strategy announced in the HRI budget. This is the first significant increase in prize money since 2008 and we are glad to see prize money as a priority now. We have been in negotiation with HRI since June of this year regarding prize money and look forward to hearing further details on the three-year plan for prize money in January.”

Racecourse investment

There is provision for grant aid for capital developments in racecourses under a new scheme launched during 2025. The expectation is that HRI will fund €20m-€24m by providing 40% grant aid over a five-year period for both public-facing and industry facilities.

HRI says it is prioritising “enhancing customer experience, with investment required to enhance terrestrial television and streaming viewing numbers and to grow racecourse attendance figures.” There will be a particular focus on driving engagement with flat racing through marketing and customer-focused initiatives.”

Equine welfare

HRI is also putting an extra €1 million into equine welfare activities and welfare-related grant funding of €4.6 million, an increase of €1 million on a forecast spend of €3.6 million during 2025.

Among the initiatives to be supported will be 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 and “resources have also been allocated to elevating welfare communications, reinforcing HRI’s commitment to the care and wellbeing of horses and participants.”

Integrity funding is set to increase to €17.8 million, an increase of €500,000.

National Equine Campus

A total of €2.6 million is being directed into industry education and training. “This includes funding for phase one of the redevelopment of the National Equine Campus [at RACE] which will see enhanced training and educational facilities along with a high-performance unit and rehabilitation facilities for jockeys.”

There is no increase in the funding for point-to-points, which stays at €2.7 million.

The IRE Incentive Scheme, designed to stimulate trade at Irish sales, will continue to enjoy HRI support. HRI will provide for €1.5 million in sales vouchers, up by €200,000 from this year, for qualifying winners that can be spent on Irish-bred horses at Irish auctions in 2026 and 2027.

HRI has also assigned €3 million to digital strategy and IT transformation projects for 2026.

Suzanne Eade, HRI chief executive, said: “Although HRI’s overall allocation from the Horse & Greyhound Fund remained static in 2026, the revised allocation - with €2 million more available for current expenditure - has allowed us to progress many of the ambitious plans laid out in our Strategic Plan 2024-2028. This has been achieved by driving efficiencies within the industry’s operational expenditure, allowing us to respond to significant inflationary pressures.

“HRI has consulted with key stakeholders, owners, and racecourses in determining both prize money strategy and funding the changes for 2026. These increases in prize money are crucial to the attraction of inward investment into Irish racing, the widening of the ownership base, and the retention of both owners and horses.”