Racing Prize Money Beats Inflation
Now that spring has arrived it really is great to be going racing again after this very long, cold winter.
Congratulations to William Hill and Historic Newspapers of Harpenden who put together a history of major horse racing events from 1904 using archive copies of the Daily Mirror in a presentation book for guests at the Cheltenham Festival. It’s all in there – the Grand National, Royal Ascot and the Derby.
One race card that features in the book is the Coronation Cup run at Epsom. Prize money for this particular race has done very well over the years.
By entering the yearly prize money into the Bank of England calculator we can see that the money to the winner has done well to keep up with all those years of inflation.
The prize money to the winner in 1981 falls short of inflation by £3,118 and from 1985 prize money is £5,677 more than inflation, not bad when you consider a £100 in 1985 now requires £236 to buy the same goods!