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Bobs Double-Up Puts $10m Into Horse Ownership
Racing NSW announced that, since the BOBS Double-Up option was introduced in January 2006, $10 million "has been pumped directly into horse ownership". Racing NSW chief executive Peter V'landys declared: "If ever we needed proof that our unique Double-Up offer is a runaway success, this is it. That $10 million in just over 4 years has stimulated thoroughbred breeding in NSW, made ownership more affordable & placed more racehorses in trainers' stables. So every section of the thoroughbred industry in this state has benefited enormously from BOBS Double-Up." Under the Double-Up option, owners are able to forego the cash payout from a Breeder Owner Bonus Scheme win in favour of a voucher which doubles the money on the condition it is used to buy another BOBS-eligible yearling. In the initial 10 months of the 2009-10 racing season, 893 BOBS bonuses were won & in 309 cases owners preferred the Double-Up option to taking the cash.