The Westspeed Incentive Scheme

Westspeed in 2012/13

Aim

The primary objective of the Westspeed Incentive Scheme is to foster and promote the growth of Western Australian racing by providing owners and breeders with the incentive to continue, and possibly extend, their level of investment in the local industry.

Mutual Benefit

The scheme is designed be a “balanced equation” between breeders and owners, with the participation of each generating a benefit for the other.

Owners

The benefit to owners is purely a financial one, in that if they have the option to nominate their horse and they choose to exercise it, its earning potential and overall viability becomes significantly higher than a non Westspeed alternative, thanks to the generous Westspeed Owner’s Bonuses on offer. This is evidenced by the fact that since the scheme’s inception at the beginning of the 1999/2000 Racing Season, participating owners have received bonus returns in excess of $16.6 million from nomination fees totalling $6.8 million.

The “catch” for owners however is that only horses which have been breeder nominated for Westspeed can be owner nominated, so prospective owners need to factor that into their yearling deliberations.

Breeders

The potential benefits accruing to breeders from Westspeed participation are twofold.

1.   The viability advantage of a Westspeed breeder nominated yearling is highlighted in the sale ring and provides a positive point of difference in a competitive selling environment. This should translate into increased demand from local buyers and ultimately prices and whilst outcomes in this regard are difficult to quantify, many trainers have confirmed that it is a significant factor when choosing between otherwise like yearlings, for local buyers.

2.   The scheme also provides bonus payments to breeders thus giving them a small return on the racetrack achievements of their stock, often years after they’ve been sold. Direct bonus payments to breeders since the scheme’s inception amount to $5.8 million.

Bonus Payments to Trainers and Riders

Commencing in the 2012/13 Racing Season, the trainer and rider of  a Westspeed winner will also receive a bonus. The quantum of the bonus is based on RWWA’s annual contribution to the scheme and in 12/13 it will amount to 6% and 3% respectively, of the total bonus won by the breeder and owner of each Westspeed winner. Payments to trainers and riders, which are expected to total around $300k in 12/13, will be funded entirely by RWWA from a pool independent of that to which breeders and owners contribute and from which their bonuses are derived.

Which Yearlings are Eligible?

One or more of the following criteria must be satisfied for a yearling to be eligible for nomination to the Westspeed Incentive Scheme.

•       It must be a product of a sire standing in WA at the time the dam is served, or

•       It can be the product of any sire provided the dam:

(i)     was owned or part owned by a West Australian breeder at the time the yearling was conceived, or

(ii)    was carrying that foal, or had that foal at foot,  at the time she was purchased by a W.A. breeder, or

(iii)   was served by a WA based stallion in the season immediately following that in which the yearling in question was conceived.

As such the mare does not necessarily need to reside in WA and the foal does not necessarily need to be born here.

How Does It Work?

The Breeder begins the process during a horse’s yearling (one year old) season by lodging a Westspeed Breeder Nomination ($550) for any eligible yearling for which they are the registered breeder as per the Australian Stud Book.

The Owner of a breeder nominated yearling subsequently has the choice of two levels at which they can participate.

1.   Westspeed Standard, for which the Nomination Fee is $1,100 (inc. $100 GST)

2.   Westspeed Extra, for which the Nomination Fee is $2,200 (inc. $200 GST)

The bonus levels applicable to each of the above levels are detailed in the tables below.

If the owner of a breeder nominated horse elects not to participate in the scheme, that horse remains a “Breeder Only” nomination and only the breeder’s component (as per the following table) of the bonus is paid out for any eligible wins that horse may record

The owners of yearlings which have not been breeder nominated do not have the option of Westspeed participation at any level.

Westspeed runners which are competing for bonuses will be denoted via one of the following logos next to their name in the race book.

                                                                                                     

 

When Are Bonuses Paid and How Much Are They?

The bonuses in the table below will be paid to the connections of Westspeed gallopers (relevant to the horse’s level of participation) for the following wins:

•     all wins recorded at two years of age;
•     all wins recorded at three years of age; and
•     all wins recorded at four years of age in races conducted over a distance of 1800 metres or more,

provided the race in question is conducted in WA, is TAB covered and has a total advertised stake of less than $100,000.

Westspeed Bonus Schedule 2012/13

Bonus Level

Advertised Race Stake

Breeder’s Bonus

(B)

Standard Owner’s Bonus
(S)

Extra Owner’s Bonus
(X)

Tier 1

$40,000 – $99,999

$5,000

$15,000

$22,500

Tier 2

$17,000 – $39,999

$2,500

$7,500

$7,500

Tier 3

  $7,500 – $16,999

$1,250

$3,750

$3,750

Tier 4

  < $7,500

$625

$1,875

$1,875

Half Bonuses

Under the “First Win Initiative” which was introduced on 1/08/2009, the connections of Westspeed participating gallopers will receive a bonus of half the amount detailed in the above table, if they record their first career win at four years of age in an event of less than 1800 metres, provided that the event is conducted in W.A, is TAB covered and has a total advertised stake of less than $100,000

The Big Winners So Far

Westspeed All Time Top 10 (As at 12/02/2013)

Rank

Horse

Wins

Breeder

Owner

Total

Foaled

1

Hawkeye Mort

8

$40,000

$120,000

$160,000

2005

2

Star Encounter

8

$36,250

$108,750

$145,000

2004

3

Detection

5

$25,000

$112,500

$137,500

2009

4

For Your Eyes Only

8

$30,000

$100,000

$130,000

2006

5

Chester Road

7

$30,625

$91,875

$122,500

2007

6

Revolition

6

$30,000

$90,000

$120,000

2005

7

The Rising

4

$20,000

$90,000

$110,000

2009

8

Dark Target

6

$27,000

$81,000

$108,000

2004

9

Nollamara

6

$26,250

$78,750

$105,000

2005

10

Passion Cantata

4

$20,000

$82,500

$102,500

2009

2011 Foals

Nominations are currently being accepted for eligible 2011 foals. Further information and forms are available on the RWWA Website or can be obtained by contacting myself at RWWA on 9445 5280.

 

John Doherty
Westspeed Officer
RWWA