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Incentive Awards Fund

$ 0

Incentive Checks Awarded in November 2023

$ 0

Incentive Checks Awarded since 1979

Incentive Checks are in addition to:

Added money on NM Bred overnight races
Added money on NM Bred stakes races
20% Bonus to NM Breds In Open Races
10% Track Breeders Awards

Incentive Awards

$ 0

Total EXTRA money paid to NM Breds in 2023 - This is in ADDITION to purse money!

The Association distributes incentive award monies for the racing seasons ending at the conclusion of the New Mexico State Fair, in accordance with laws and regulation enacted by the New Mexico State Legislature and the New Mexico State Racing Commission. Awards are calculated based on the amount received throughout the year, and checks are sent out in late November.

Legislation passed in 2023 by the State of New Mexico that changed the Incentive Award Distribution percentages to the following:

45% – Breeders
35% – Owners
12% – Stallion Owners
8% – Administrative Fees

Owners

Awarded for 1st, 2nd or 3rd place finish

Breeders

Awarded for 1st, 2nd, 3rd place finish.

Prior to 6/14/2019, breeders are awarded for 1st place finish only

Stallion Owners

Awarded for 1st place finish

Previous Year Award Distributions 1999 - 1984

NM Stakes Fund (Breakage Fund)

Legislation passed in 1992 by the State of New Mexico provides that 50% of the breakage on pari-mutuels at New Mexico race tracks be allocated to enhance the race purses of established STAKES RACES that include only horses registered as New Mexico bred. Breakage is defined as the odd cents of all redistributions to the wagerer over the next lowest multiple of ten from the gross amount wagered through the pari-mutuel system. The Association receives breakage from race tracks and distributes the funds to enhance New Mexico Bred stakes race purses at the tracks from which the breakage was earned.

10% Track Breeders Awards

Each racetrack in the State of New Mexico is required to pay a 10% track breeders award to any New Mexico bred horse that wins a race. 10% of the winning purse provided by the racetrack is paid to the breeder of record. 10% of added monies by the race track in stakes races is paid by the track to the breeder of record. Any monies added to a purse by an organization other than the racetrack is not included in the 10% track breeder awards. The track breeder award sheets are sent to the New Mexico Horse Breeders offices for completion of addresses and social security numbers as well as verification of the New Mexico bred status of each winning horse.

Open Overnight Awards

This program will permit a New Mexico Bred horse entering an open overnight race and finishing 1st, 2nd or 3rd to receive a 20% increase of the original purse. Incentive money will be distributed as follows:

First Place

will get 63% of the incentive money and the original first place purse.

Second Place

will get 24% of the incentive money and the original second place purse.

Third Place

will get 13% of the incentive money plus the original third place purse.

Money will be wired on a bi-weekly basis and this schedule may be adjusted if necessary. All undistributed incentive money will be carried over to the next meet, if applicable.

This program will be monitored by the New Mexico Horse Breeders Association and track management to ensure that this is beneficial to the New Mexico Bred Program. Reports on this program will be given at the monthly Commission meetings and any changes to the program must be approved by the Racing Commission.

Unclaimed Ticket Fund

Legislation passed in April, 1993 by the State of New Mexico provides that 33.34% of the unclaimed pari-mutuel tickets from each race meeting will be used to enhance each track’s OVERNIGHT PURSES for races restricted to New Mexico bred horses. Funds are transmitted sixty days after the conclusion of each racing meet. THESE FUNDS GO BACK TO THE TRACK FROM WHICH THEY WERE RECEIVED.

Gaming Purse Fund

Rules were adopted by the New Mexico Racing Commission in February 1999 in accordance with the laws enacted by the New Mexico State Legislature to allow twenty percent of the net take from gaming at the racetracks to go to purses. Of that 20%, the New Mexico Horsemen’s Association distributes 80.7% of the fund to the existing purse structure. The remaining 19.3% is distributed to the NMHBA Gaming Purse Fund. The NMHBA gaming purse fund is divided evenly between the Incentive Award fund, NM Stakes Fund (breakage) and the Overnight purse fund (unclaimed tickets). The New Mexico Stakes Fund and Overnight purse fund is distributed back to the racetrack where the funds were generated.

Incentives