THE GREAT BRITISH BONUS SCHEME SURPASSES £10 MILLION IN BONUSES

The Great British Bonus (GBB) scheme is celebrating passing its £10 million milestone. Launched just three years ago, the scheme incentivises and rewards the breeding, buying and racing of British-bred fillies by awarding bonuses of up to £20,000 per race.

Marking the achievement, Operations Executive, Charlie Newton says: We are thrilled to have reached this record milestone! The scheme arrived at a time when it was desperately needed. Not only were we feeling the impact of Covid-19 and Brexit, but the breeding industry had been witnessing a sustained decline in numbers and profitability. In a little under three years, we have put £10 million back in the pockets of breeders, owners, trainers, jockeys, and stable staff.

Thats an amazing achievement in itself, but weve also seen an increase in the demand for and the value of British-bred fillies in the sales ring. Fillies and mares now have a lucrative career path, which will, in turn, see the strengthening of our broodmare bands.

The scheme has paid out bonuses to 549 fillies and mares in 722 races. GBB supports both Flat and National Hunt fillies and mares with 497 of bonuses, worth over £7.1million awarded to the former and 225 worth £2.9million to the latter. Some 85% of bonuses go to fillies by British-based stallions. This behaviour is encouraged by the schemes two levels of eligibility: 100% GBB fillies are by stallions based in Britain at the time of covering and can win the larger bonuses of £20,000; 50% GBB fillies are by stallions based outside Britain and they can win bonuses of up to £10,000.

Pitched as an incentive scheme for the entire industry, GBB means breeders benefit by being awarded up to 20% of bonuses won, and by an increased demand for fillies registered on the scheme.

One breeder and stallion master who has already tasted success is Ed Harper of Whitsbury Manor Stud: GBB has been the most supportive innovation for British breeders since I started in the industry and has been superb for studs like Whitsbury, he says. The demand for our fillies has never been better and we are now pleased if we have a glut of filly foals. For a stallion stud like ours, GBB has been a phenomenal support; its a fantastic product to be able to offer our clients and lets them see real returns on their investment. In turn, this additional support for our stallions will help us to invest with confidence in the future.

The TBAs Deputy Chairman, Philip Newton, says: We couldnt be more pleased and proud at how GBB has been performing. We knew it could be a success, but the results have surpassed expectations. The industry has really taken a hold of it and made it their own.

We recently commissioned PwC to carry out an Economic Impact Study to discover what impact GBB was having on the industry. Overall, in the three years since GBB launched, the price of British-bred fillies has increased by 16.6% that breaks down as a 30.7% uplift in the foal price, 14.8% of the yearling price, and a 16.5% increase for National Hunt stores. These are welcome advances for a breeding industry that remains under extreme economic pressure.

Fergal OBrien, whose bonus wins amount to over £250,000 says: Weve won 21 bonuses so far and its fantastic. LUTINEBELLA for example won a bumper at Warwick and then two novice hurdles her prize money for those wins was just under £11,000 total however, she also won £50,000 in bonuses on top of that so it makes a huge difference. We might be paying a bit more for these mares at the sales now, but its worth it to be a part of the scheme. GBB offers a real opportunity to provide returns for our owners and, of course, there is the added satisfaction of a small percentage going back into the yard. Well definitely keep buying and running them.

One of the aims of GBB is to ensure that track-tested fillies return to British-breeding sheds, thereby increasing the numbers and quality of the broodmare band. In the past 12 months, there certainly seems to be an uptick in the number of fillies leased to racing syndicates.

Sam Hoskins, of Hot to Trot Racing, has had a number of GBB winners and, with some exciting fillies on the books, looks set to pick up a few more. He says: GBB offers a unique opportunity to breeders and syndicators like myself. If a breeder wants to hang onto a filly for her bloodline, they can simply lease the filly to a racing syndicate so that she is kept and paid for by someone else. I get the benefit of a smart and potentially lucrative filly without the initial outlay in purchase costs.

Designed and run by the TBA, the scheme receives around 30% of its income via registration fees, but the bulk of its financial support comes from the Horserace Betting Levy Board (HBLB), a point Philip Newton was keen to press home. We owe a huge debt of gratitude to everyone who has supported us in making this milestone possible, he says. Not least, the HBLB, which generously funds GBB to the tune of £3.5 million a year.

Alan Delmonte, of the HBLB, says: Since GBB was launched in June 2020, HBLB is delighted to have provided it with funding of £7.6 million. It is particularly pleasing to see the 16% increase in the value of GBB-eligible fillies since the scheme started. Funding for GBB is among significant investments that HBLB has made in recent years to enhance British breeding and also to provide incentives for the racing of fillies and mares.