Racing NSW announced on Tuesday major prizemoney increases to country racing carnivals right across NSW.

The Albury Gold Cup has received a $20,000 increase and will be worth $200,000.

Prizemoney for several support races over the two-day carnival have also been boosted.

The Flat Knacker and City Handicap will both be worth $75,000, up from $50,000.

The Albury Mile will be worth $50,000 an increase of $10,000.

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Racing NSW also announced a new initiative, the Country Magic.

The new race is for country trainers only and will be worth $50,000.

The 3YO Albury Guineas will remain at $80,000.

The $100,000 boost from Racing NSW will ensure six of the 16 races over the two-day carnival are worth $50,000 or more.

"It's an exciting announcement and Racing NSW should be commended for its commitment to country racing," club chief Steve Hetherton said.

"It strengthens the Albury Gold Cup carnival brand.

"It also ensures we continue to grow the economic benefits for the region."

Hetherton said the increase in prizemoney to the Border's premier race would be enticing to metropolitan trainers with a standard city race worth $125,000.

"The prizemoney increases will no doubt grab the attention of both Melbourne and Sydney trainers," he said.

"Prizemoney is generally the main attraction for trainers to ensure owners see a return on their investment."

Hetherton also praised the introduction of the Country Magic will gives local trainers a guaranteed chance at the increased prizemoney.

"I applaud any initiative that focuses on giving country trainers an exclusive shot at the bigger prizemoney," he said.

"I'm sure the local trainers will be preparing some horses with that race in mind."

Prizemoney for next year's carnival will be $770,000.

Hetherton was also proud to announce that Commercial Club Albury will be the major sponsor of the Albury Gold Cup carnival next year.

"We are very fortunate to be able to extend our association with the Commercial Club for a 13th year," he said.

"Commercial Club Albury is an integral part of the continued success of Albury's biggest social event."