Dennis Chin-You (left), a director of Champion Betting Limited, hands over the $2 million sponsorship cheque to Raphael Gordon, deputy chairman of Caymanas Track Limited, at yesterday's launch of the Champion Betting Claiming Series. The series begins on July 29. - Ian Allen/Staff Photographer

Champion Betting Limited has stepped up to the plate with lucrative sponsorship of the popular Claiming Series for horses in the $220,000-$190,000 spread commencing on Wednesday, July 29, over 1200m at Caymanas Park.

Details were announced by representatives of Champion Betting and Caymanas Track Limited (CTL) at yesterday's launch in the Trainers' Room at Caymanas Park.

Among those speaking were Dennis Chin-You, a director of Champion Betting; CTL director Chris Armond and the company's racing secretary, Denzil Miller Jr. The series, formerly known as the CTL Claiming Series, will be sponsored by Champion Betting Limited from July 2009 to June 2010, thanks to a whopping contribution of $2 million from the bookmaking company.

It will embrace six races in the 2009 series (one each month) and another six in the first half of 2010. Each race offers a substantial increase in prize money, the purse moving from $385,000 to $500,000, inclusive of $83,500 from the sponsor.

Bonus incentives

At the end of each six-month period, bonus incentives totalling $500,000 will be awarded to the top two owners, trainers, jockeys and grooms.

This is based on points accumulated in each of the races during the six months. The winning owner will receive $125,000, second $75,000, the winning trainer $75,000, second $50,000, the winning jockey $62,500, second $37,500 and the winning groom $50,000, second $25,000.

Points are awarded on the same basis as the recently concluded CTL Claiming Series - 20 for first, 15 for second, 10 for third, seven for fourth, four for fifth, two for sixth and one for seventh place or lower finish.

The second race in the series will be run on Saturday, August 29, over 1400 metres.

In addition, the bookmaking company will donate a further $50,000 each month for the Champion Lucky Losers competition, a promotion which requires punters with losing vouchers of $200 or more, bought at Champion, to write their names and addresses on the back of these and place them in a box at the betting shops to be drawn on the day of each race.

Prizes

The lucky winner will receive $40,000, while $10,000 will be shared by the staff at the Champion betting outlet from which the bet was purchased. If there is no winner, the $40,000 will be carried over to the next race in the series.

Speaking at the launch, Dennis Chin-You said: "This is a series that will benefit all stakeholders - owners, trainers, jockeys and grooms .... We are pleased to be associated with it."

Among those present were United Bookmakers Association chairman Xavier Chin and his daughter Arnella, operations manager of Track Price Plus Limited.