New data has revealed more than $67 million was wagered on the carnival, 6.9 per cent more than the previous record of $62.12 million set in 2021.

Warrnambool Racing Club chief executive officer Tom O'Connor said the betting figures included both on-course and off-course wagering.

He said the club, free of COVID-19 restrictions, had attracted record crowds for the three-day event with 29,048 patrons filing through the turnstiles.

That number was more than 2500 above last year's 26,549.

"The May Racing Carnival is a iconic event for the Victorian thoroughbred racing industry and an important one for south-west Victoria, injecting $15 million into the local economy, " Mr O'Connor said.

He said prizemoney increases of more than $400,000 had helped increase interest in the carnival.

"The injection of the increased prizemoney, strong field sizes, quality jockeys and trainers has resulted in a record wagering result for the WRC," Mr O'Connor said.

"With challenging weather conditions, the track raced well for the three days, and it is a credit to the entire track team.

"The goal is always to prepare a safe and fair surface for all and to instil confidence in punters to wager on the three days. The track team achieved this and the data from the wagering growth backs this up.

"The wagering result, carnival attendance and the club membership numbers confirm the Warrnambool May Carnival is Victoria's premier country racing carnival , if not Australia's."

"The community support and civic pride for the carnival was on full display across the city and throughout the district.

"The leadership from the volunteer committee, full-time staff, casual workforce and contractors was outstanding to deliver the carnival."

The club's membership grew to 2251, up from 2000 in 2021.