THE changes are coming thick and fast by the new promoter of horse racing, Supreme Ventures Racing and Entertainment Limited (SVREL), with the latest being the introduction of two new race categories.

The new races are both in the claiming category; one for the claiming bracket of $100,000 – $120,000, with the other spanning the $750,000 -$850,000 range.

The two additional race categories form part of the $100-million increase in purses recently announced by SVREL and which came into effect on Saturday last (April 1).

SVREL’s director of racing, Chris Armond, commenting on the introduction of the new additions, made it clear that the decision to add the two new race categories came after consultation, especially with the trainers.

“We had a meeting with the stakeholders and we listened and tried to put in place some of their more immediate concerns.

“Our final decision might not please everyone, but for sure it represents and reflects the calling of the majority,” Armond stated. He further gave the reasons why it was necessary to have these new races.

“Let us take the $750,000 – $850,000 claiming race. When a horse goes through the classes — that is, maiden, non-winners of two, non-winners of three and non-winners of three other than — that horse now qualifies for Overnight Allowance.

If that horse is unable to meet the demands of Overnight Allowance, before now, the usual and logical place for that horse to run is in a $500,000 to $550,000 claiming race.

“Let’s now assess the value of that horse in question. It is pretty safe to deduce that after winning four races and reaching Overnight status, the value of that horse is around $1 million.

“If that horse cannot make it at the Overnight level, in the old system that horserunning at $500,000 – $550,000, loses approximately 50 per cent of its approximate value.

“The $750,000 – $850,000 race therefore provides the owner an option not to lose 50 per cent of its estimated value.

We have eight such races planned over the next 12 months and we will not be running this race on the same day when an Overnight Allowance is being offered,” Armond said.

As to a lowering of the claiming amount to accommodate horses at the lowest level, Armond said: “We have to deal with the facts at our disposal. There are many horses at the racetrack now that are injured in varying degrees.

In fact, there are a lot of them, so we thought that it would better to offer the connections of these horses shorter distances like 400 metres and 600 metres straight. These races should attract good entries and hopefully generate good betting in the tote.”