Supreme Ventures Racing & Entertainment Limited (SVREL) is hoping to increase the minimum payout to $52.50 on a $50 investment starting this Saturday, pending approval from the Betting, Gaming and Lotteries Commission (BGLC), chairman Solomon Sharpe has stated.

“It is acknowledged that horse racing is for the people, so we have been listening to the punters and, coming this weekend for this Super Day, any horse you wager on, the minimum payout will be $52.50,” Sharpe told the gathering at the recent launch of the Lasco Distributors Limited-sponsored Superstakes weekend festival.

“Wayne DaCosta and his 1-9 horses will be guaranteed $52.50,” he reiterated.

He continued: “This is just magnificent, so, we are making some strides at SVREL, probably not as fast as some people would like, but in addition to this on Superstakes weekend, depending on the approval from the BGLC, I cannot see any reason why it [increased minimum payout] should not happen.”

Lasco Distributors Limited, a locally developed international company, recently joined SVREL, local promoters of horse racing, to raise the ante on the overall profile of the sport by staging a lavish Superstakes Carnival Weekend of racing.

The 41st running of the iCool Juice Drink Superstakes event over 10 furlongs (2,000m) as well as the Lyrix Soft Drink Invitational Mile will be run on Sunday, October 5, while the Lasco Food Drink Caribbean Sprint and the Konka Energy Drink Juvenile Sprint will be run on the Saturday.

Lasco will provide $5.9 million towards the overall purse package of $27.4 million for both days.

The promoters and the sponsors have designated six races to be run over both days in a Lasco Championship Series with a bonus of $100,000, $75,000 and $50,000 going to the winning trainer, jockey and groom, respectively, to amass the most points in the series.

Points will be awarded as follows: 10 for first, seven for second, five for third, three for fourth, two for fifth, and one point for sixth place.

Lasco Distributors Limited will add $100,000 to each purse in the six races.