Major Purse Hikes Set for Belmont, Saratoga

Stakes purses at the Belmont Park and Saratoga meets this year will increase roughly 27%, while overnight purses will jump about 42%, the New York Racing Association said Feb. 29.

The increases factor in revenue from the video lottery terminal casino that opened last fall at Aqueduct. Though win-per-machine hasn't quite met expectations, VLTs have generated millions of dollars for purses and capital improvements at NYRA tracks.

Stakes purses during the 56-day Belmont spring meet will increase $1.9 million, or 26.6%, to $9.05 million in 2012, while stakes purses during the 40-day Saratoga meet will increase $2.85 million, or 27%, to $13.35 million in 2012.

Purses for overnight races, including overnight stakes, will increase $8.7 million during the Belmont spring meet and $7.7 million during the Saratoga meet, NYRA officials said.

Average daily purses—overnights and stakes combined—will be $620,000, up from $430,000, at Belmont, and $930,000, up from $670,000, at Saratoga. The upstate New York racetrack will easily have the highest daily average purse distribution in North America.

“The purse increases for overnight and stakes races for the upcoming Belmont Park and Saratoga meets confirm NYRA’s leadership position in Thoroughbred racing,” NYRA vice president and director of racing P. J. Campo said in a statement. “The enhanced purses should result in larger field sizes, stimulate additional wagering activity, and increase profitability for NYRA.”

The purse for the Belmont Stakes (gr. I), the third leg of the Triple Crown, will remain at $1 million. The Metropolitan Mile Handicap (gr. I) will run for $750,000 this year, up from $500,000 in 2011.

The Saratoga meet again will be highlighted by the $1 million Travers Stakes (gr. I). Several stakes received purse hikes: the Ballerina Stakes (gr. I), from $250,000 to $500,000; the Foxwoods King’s Bishop and the Test Stakes (both gr. I), each from $250,000 to $500,000; the Personal Ensign Stakes (gr. I), from $300,000 to $600,000; and the Fourstardave (gr. IIT), from $150,000 to $500,000.