The Jockey Club, which runs 15 race courses in Britain, said it would provide almost half of the total thanks to growth in its business operations.
The contribution from British bookmakers has fallen since 2009 after more of them moved their online sports betting offshore and beyond the reach of an industry levy.
Bookmakers and the industry have been locked in a long debate about how to reform funding to ensure there are enough races that are attractive to gamblers, while also providing a decent return for those who work or invest in the sport.
"Prize money is the lifeblood of British racing, providing a return for racehorse owners and supporting trainers, jockeys and stable staff," said Simon Bazalgette, Jockey Club chief executive.
"It is an important measure of the health of our sport," he added in a statement.
The Jockey Club is the largest racecourse group in Britain and reinvests all of its profits back into racing.
($1 = 0.6157 British pounds)
(Writing by Keith Weir, editing by Justin Palmer)
