Ontario Racing’s Board of Directors is pleased to announce that it will distribute $596,950 in Market Restricted Funds to 11 Standardbred racetracks throughout the province.
Accumulated as a result of the assignment of certain home market areas for telephone account wagering to Woodbine at the time of the cancellation of the Slots At Racetracks Program (SARP), the Market Restricted Funds are comprised of teletheatre net revenues and commissions, as well as the original 50 per cent share of gaming revenue commissions for purse payments.
The funds, a calculation that represents an increase of 2.11 per cent to the current overall purse structure, are to be utilized to fund purses for Ontario Sired and/or Ontario Bred races.
Disbursement of the funds, as decided by Ontario Racing’s Board of Directors, will be distributed as added purse monies as follows:
Clinton - $10,760
Hanover - $10,760
Dresden - $7,890
Leamington - $9,320
Hiawatha - $15,060
Kawartha - $15,060
Grand River - $60,790
Georgian - $50,660
Western Fair - $158,300
Flamboro - $167,170
Rideau - $91,180
TOTAL - $596,950
The distribution reflects the same formula that was used to distribute the Stranded Purse Funds in 2019. The Market Restricted Funds distribution will take place for the upcoming racing season, beginning April 1, 2020 and ending on March 31, 2021.
While the purse structure at Signature and Grassroots racetracks is consistent, the experience in the actual classes filled at each track, somewhat seasonally driven, can be different. This will lead to slightly different per race average overnight purses, and these variances are assumed in the distribution model.
(Ontario Racing)