The 149th annual Towong Cup has received a timely boost with the state government chipping in $20,000 ahead of the race day on Saturday.
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The track narrowly avoided being destroyed during the Upper Murray bushfires and the event hopes to bring some much-needed tourism to town.
Minister for Racing Martin Pakula announced the government was backing the Towong Turf Club to help to encourage people to attend and support local tourism operators and workers.
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"Towong Cup day provides a great outing for the family and I encourage visitors to consider making a trip to the Upper Murray," Mr Pakula said.
For turf club president Alex Mackinnon the government cash is an added bonus.
"Our Towong Cup meeting is shaping as a real winner and we're keen to welcome families and visitors to enjoy a great day out," he said.