Horse Racing Ireland announces budget for 2026

Prize money to increase by €4.2 million to €74.7m

Horse Racing Ireland approved its budget for 2026 at its Board meeting on Wednesday, December 17. Budget 2026 sets out a bold vision to strengthen Ireland’s position as a global leader in racing and breeding through targeted investment in key strategic initiatives and major capital projects.

These investments reflect HRI’s long-term strategy to deliver excellence on and off the track, ensuring Irish racing continues to thrive for generations to come.

Prize Money

The total prize money budget for 2026 is €74.7m, up €4.2m on the overall estimated prize fund for 2025.

The HRI Board has approved this record figure for next year and details of the prize money strategy will be announced early in the New Year, together with 2026 revised race values which will commence from March 1. At the heart of this strategy is the delivery of a sustainable race programme and a competitive prize money distribution model. The budgeted number of race meetings in 2026 is 390.

Equine Welfare

The 2026 budget provides for investment in equine welfare activities and welfare-related grant funding of €4.6m, an increase of €1m on forecast spend of €3.6m during 2025.

Horse Racing Ireland reaffirms its commitment to equine welfare with significant investment in key initiatives shaping the future of Irish racing, including the Equine Safety Racecourse Capital Development Project which is delivering transformative safety improvements at racecourses and the future redevelopment of the Irish Equine Centre.

HRI will continue to support the Irish Horse Welfare Trust, and Treo Eile which is driving awareness and opportunities for second careers for racehorses, ensuring their wellbeing beyond the track. Resources have also been allocated to elevating welfare communications, reinforcing HRI’s commitment to the care and wellbeing of horses and participants.

Integrity and Integrity Services

Integrity funding is set to increase to €17.8m, an increase of €0.5m on forecast spend of €17.3m during 2025.

This funding ensures Irish racing is focused on maintaining and strengthening the high standards of integrity for our industry.

People: Industry Welfare, Education and Training

HRI continues to invest in industry education and training, with €2.6m allocated in 2026, to support all sectors of the industry. This includes funding for phase 1 of the redevelopment of the National Equine Campus which will see enhanced training and educational facilities along with a high-performance unit and rehabilitation facilities for jockeys.

Point-to-Points

Funding for the Point-to-Point sector for 2026, covering the areas of integrity, prize money, grants and insurance support, is €2.7m and is consistent with the figure allocated in the budget this year.

Strategic Initiatives

The budget prioritises enhancing customer experience, with investment required to enhance terrestrial TV and streaming viewing numbers and to grow racecourse attendance figures. There will be a particular focus on driving engagement with Flat racing through marketing and customer-focused initiatives. Further funding will support the continued implementation of racecourse metrics measuring consumer experience to underpin future targeted investment in the improvement of public-facing facilities, ensuring racegoers enjoy the highest standards.

Recognising the importance of inclusivity, HRI’s 2026 budget commits to diversity and inclusion initiatives, fostering a flexible and progressive environment across the industry.

Major Capital Investment - Tipperary All Weather Track

With the recent Ministerial approval, the development of the Tipperary All Weather Track will commence early in 2026 with all-weather racing expected to commence in Q4 of 2027. This is a significant investment in the future of the racing industry.

There is provision in budget 2026 for grant aid for capital developments in racecourses under a new scheme launched during 2025. The expectation is that HRI will fund €20m-€24m by providing 40% grant aid over a 5-year period, underpinning total capital investment of €50m-€60m by racecourses on their public facing and industry facilities.

Digital Strategy & IT Transformation

HRI has assigned €3m to digital strategy and IT transformation projects for 2026 to continue the implementation of HRI’s and IHRB’s combined digital strategy delivering modern digital platforms providing an integrated and responsive IT environment. This investment will enable improvements in key business processes and provide the foundation for the implementation of a consumer-focused digital strategy.

Sustainability

HRI continues to drive sustainability best practices throughout its organisation and operations and is committed to supporting the wider industry by sharing its learnings. A sustainability scheme for all 26 racecourses, targeted at racecourse irrigation improvements, will be launched in Q1 2026.

Irish Breeders and Bloodstock Sales

The popular IRE Incentive Scheme, designed to stimulate trade at Irish sales and to fortify the Irish thoroughbred breeding and racing industry is producing a significant multiplier effect in terms of investment in Irish-bred horses. In 2026, HRI will provide for €1.5m in vouchers, up by €0.2m from this year, for qualifying winners that can be spent on Irish-bred horses at Irish auctions in 2026 and 2027.

Suzanne Eade, Chief Executive of Horse Racing Ireland, said: “Although HRI’s overall allocation from the Horse & Greyhound Fund remained static in 2026, the revised allocation with €2m more available for current expenditure has allowed us to progress many of the ambitious plans laid out in our Strategic Plan 2024-2028. This has been achieved by driving efficiencies within the industry’s operational expenditure, allowing us to respond to significant inflationary pressures.

“HRI has consulted with key stakeholders, owners, and racecourses in determining both prize money strategy and funding the changes for 2026. These increases in prize money are crucial to the attraction of inward investment into Irish racing, the widening of the ownership base, and the retention of both owners and horses.

“HRI welcomes the recent approval of the Tipperary All Weather Track Development by the Minister for Agriculture, Food, and the Marine, with the work due to commence early in 2026 for completion by the end of the following year.

“We have increased capital allocations, quite significantly, in the areas of equine welfare, in our people and their training, integrity, breeding and bloodstock sales and transformative digital and IT projects.

“These measures, we believe, will provide Irish racing with a renewed stimulus, and afford greater attention to the people employed in it and to the horses themselves. As already stated, our commitment to nurturing success and inspiring participation will continue well beyond 2026 but it is vital these next steps are taken ahead of what will be an important year for our industry.”