Country Racing Victoria opted to top up 16 support races at the three-day carnival, raising the minimum prizemoney to $20,000 a race, $5000 more than last year.

The lift in prizemoney is significant for the carnival, with support races worth more than an average country race and closer to the $30,000 minimum offered for mid-week city races.

It also ensures support jumps races will be more lucrative.

Warrnambool Racing Club chairman Marg Lucas was delighted with CRV's decision.

"It is wonderful news, good news for supporters of country racing and supporters of jumps races," Lucas said.

"It has been creeping up slowly over the years but this is recognition of the carnival and its ability to generate the sort of turnover to justify that.

"It is very, very significant. It will obviously attract or capture the trainers' attention and hopefully we will finish up with the quality that sort of prizemoney should attract.

"The quality of Warrnambool has always been very good. The locals set their horses and win their fair share of races so I think this (announcement) is a win/win."

She said the extra money would benefit country racing participants.

"This extra prizemoney will be welcomed by everyone really, it is a great filip."

While the support races will carry extra incentives, the feature races, including the Grand Annual Steeplechase ($141,500) and the listed Warrnambool Cup ($131,500) will retain last year's prizemoney levels.

While the 1200-metre Wangoom Handicap will be run as a listed race for the first time, it will be worth $101,000, the same as 2009.

CRV chief executive officer Scott Whiteman said the decision to increase prizemoney was based on the success of last year's carnival. "Many people continue to make the three-day racing carnival an annual getaway with friends and family to enjoy thoroughbred racing at its best," Whiteman said.

"Now with even more prizemoney on offer, trainers, jockeys and owners target races across the three days and the result is highly competitive racing.

"Warrnambool is one of Australia's very best racing carnivals and will continue to prosper into the future," he said.