News
The Great British Bonus (GBB) initiative is now three years on from its launch on 1st June 2020. The scheme has been embraced by the entire racing industry almost from the first day and has proved its worth and purpose encouraging the breeding, buying and racing of British-bred fillies and mares. It has reinvigorated interest in fillies and mares in the sales ring, attracted new owners and syndicates to race fillies and now these horses are returning to the British breeding shed to create a virtuous circle.
The recently-published PWC Economic Impact Study provided clear evidence of the difficulties the thoroughbred industry continues to face and a key recommendation to stimulate activity in the bloodstock arena is the opportunity that intervention and incentive schemes offer. GBB is a working and delivering example of this: breeders being rewarded with sale returns increasing by 16.3% across the board in three years, owners receiving 65% of the GBB fund, making owning and racing fillies and mares a compelling proposition, trainers and their teams benefiting by significant GBB wins. Its truly a scheme for all seasons.
In three short years GBB has paid out over £10m in bonus payments to Flat and NH owners and breeders, a considerable sum funded mainly by generous support from the HBLB of £3.5m per year and supported by registration payments from breeders and owners raising a further £1m. GBB registrations exceed 82% of the annual filly foal crop, with the remainder either being sold for export or selected to race in other domains. Registrations have therefore exceeded all original forecasts and consequently more GBB fillies and mares are winning more races.
GBBs introduction in 2020 was a completely new and different initiative and it was always recognised that a full review would be required when sufficient hard data was generated and with three years of evidence now available this has taken place.
Consequently, there are two immediate changes necessary to ensure GBB can continue to provide the success and support it has delivered to date.
The first of these changes provides for an increase in registration fees to support a shortfall to the fiscal requirements of bonus payments.
The new fees are as follows:
Stage 1 - £450 (£200 discount to TBA members) - £50 increase
Stage 2 - £250 - £50 increase
Stage 3 - £450 - £100 increase
The second change to GBB conditions will introduce a limit on the value of bonuses that can be won. This will be £100,000 for 100% GBB fillies and £50,000 for 50% GBB fillies.
This limitation will be in effect on and from 1 July, 2023. These two changes have been made after careful consideration to ensure the continuance and success of the Great British Bonus.
Thank you for your support and encouragement.