The horse and greyhound racing industries receive financial support from the State through the Horse and Greyhound Racing Fund, under Section 12 of the Horse and Greyhound Racing Act, 2001. Payments are made from the Fund to Horse Racing Ireland (HRI) and to Rásaíocht Con Éireann (RCÉ).
The decision on the proposed amount to be allocated to the Fund in any year is made in the context of the annual budgetary estimates process. The Estimates for my Department, following approval by the Joint Oireachtas Committee on Agriculture and Food and passed by both Houses as part of Budget 2026, include an allocation of €99.1 million for the Horse and Greyhound Racing Fund. This will be distributed in accordance with Section 12(6) of the Horse and Greyhound Racing Act, 2001, with 80% or €79.3 million going to HRI, and 20%, equating to €19.8 million to RCÉ.
Following Oireachtas approval of the Fund, my Department issues a "parameters letter" to RCÉ advising the body of the allocation from the Fund and the split between current and capital expenditure. The letter also advises RCÉ that it must comply with certain conditions in relation to this funding which include that 10% of the Fund allocation is ringfenced for welfare matters, including integrity, and the remainder of the Total Fund is to be applied in the following manner; not more than 60% on prize money, not more that 3% on operational grants to private tracks and not more than 27% on Regulatory and administrative costs and other statutory functions of RCÉ.
A certificate of assurance, (signed by the CEO and CFO or equivalent executives) certifying that the funding provided was used in accordance with the conditions under which it was granted, must be provided to my Department after all the money provided for 2026 has been expended.