Last year's total of £1,435,352 has been increased to £2,660,00 for 2004, representing an increase of 771/3 per cent.

Oxford's increase is 77 per cent and sees last year's funding of £51,980 go up to £92,132.

It is great news for Cowley, where prize money has been the biggest complaint over the years.

The BGRF will now also subsidise fees paid to both the stadium vet and paddock steward to the tune of £150 and £50 respectively.

In both cases, the payments will be restricted to three meetings a week.

But the practice of subsidising veterinary support at trials will be discontinued. Oxford Owners Association chairman and BGRF board member Stuart Locke-Hart said: "How nice it is to see more money coming into the sport.

"It's the bookmakers' money, and it's very pleasing to see it coming into the industry and making bigger contributions to the tracks.

"The owners will benefit, and it will also help the trainers as there is an unwritten law that trainers get a ten per cent cut of the prize money.

"Bookmakers, though, are sad that they are the only ones increasing the prize money. What about the promoters?"