Ascot announces record prize money for 2018

Prize money at Royal Ascot, the annual showcase event held at the course, has increased more than 10 percent to 7.3 million pounds with the winner of each race guaranteed at least 90,000 pounds.

(Reuters)

The reward for Group One winners at Royal Ascot will start at 500,000 pounds.

"In order to continue to attract the best horses to run at Ascot... it is important that we offer as competitive prize money as we can, particularly at the high end," Ascot Racecourse CEO Guy Henderson said on Monday.

The King George VI & Queen Elizabeth Stakes will be worth over 1.25 million pounds.

Royal Ascot, founded by Queen Anne in 1711, will be held from June 19-23.

(Reporting by Aditi Prakash in Bengaluru, editing by Ed Osmond)