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RACING AND THE RECESSION
as a leading racing nation then prize money has to improve. Mark Johnston believes the sort of money offered in the UK is akin to racing nations such as Austria. “You just have to look at the tables and see where we stand – it is pathetic. Prize money compared to running costs is hideous. If we are to be a leading nation in the world then we have to come out of the Forties.” It seems outside influences are a determining factor in racing’s fortunes. Norway is a small racing nation with only one racecourse, Ovrevoll, but their finances are buoyant. All prize money in Norway comes from the Norsk Rikstoto, Norway’s betting company which operates in a similar way to France’s PMU. Norsk Rikstoto has 1,300 betting shops around the country and last year turnover was up by 18 percent. Hans Petter Erickson from the Norwegian Jockey Club said, “Prize money has not been affected by the recession in Norway. It has
“No one could see the downturn coming and the banks going bust. In the last five years prize money has been on the up, it’s not as bad as everyone thinks” Eamonn Cullen
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