Standardbred Canada and Woodbine transitioning to EFT only purse payments

Standardbred Canada and Woodbine transitioning to EFT only purse payments

TORONTO, October 13, 2023 – Woodbine Entertainment and Standardbred Canada have announced that purse payments for all Ontario racetracks will be distributed exclusively to Canadian residents through Electronic Fund Transfer (direct deposit), as of April 1, 2024.

EFT, commonly referred to as direct deposit, is the globally accepted best practice for payroll, and other forms of payment worldwide, including in security conscious industries such as banking and insurance. The EFT option for purse payments was launched in late 2022.

All owners, trainers and drivers that have yet to register for EFT payments through Standardbred Canada will be required to sign-up in advance of April 1, 2024. All completed applications must be received by March 1, 2024.

For horses owned or leased by more than one person or more than one stable, the first owner of record will receive the EFT payment, but all owners must complete the EFT submission form.

Sign-up can be done through Standardbred Canada’s Member Services.

For more information on the transition to the EFT process, please contact Standardbred Canada Member Services at 905-858-3060 x254 or email EFT@standardbredcanada.ca.

Woodbine and Standardbred Canada encourage all participants to register as soon as possible.

Grace Martin
Grace Martin Communications Specialist, Woodbine Entertainment
Media Advisory
About Woodbine Entertainment

Woodbine Entertainment is the largest horse racing operator in Canada, with Thoroughbred horse racing at Woodbine Racetrack in Toronto, and Standardbred horse racing at Woodbine Mohawk Park in Milton. Woodbine Entertaiment also owns and operates HPIbet, Canada’s only betting platform dedicated to horse racing. Woodbine and Mohawk Park are host to several world-class racing events including The King’s Plate, three Breeders’ Cup Challenge Series races, and the Pepsi North America Cup. Run without share capital, Woodbine Entertainment has a mandate to financially invest all profit back into the horse racing industry and the 25,000 jobs it supports across Ontario.   

Woodbine Entertainment
555 Rexdale Blvd. Toronto, Ontario.