The world’s richest greyhound event is coming to New South Wales, with regional trainers and retiring racers the major winners.

The Million Dollar Chase will be held at Wentworth Park on October 20 but regional towns including Bathurst, Lismore and Grafton will host the qualifying finals.

Greyhound Racing NSW has teamed up with Ladbrokes Australia to create the event, with $1 million going to the top dog.

But the landmark event is keeping the focus on what happens to the dogs when their career is over.

Entry fees from every race will include a donation to the Greyhounds as Pets program and those entering must also commit to re-homing their dog when it retires.

Greyhound Racing NSW CEO Tony Mestrov tells Ray Hadley the inaugural event “is focusing on the re-homing” of greyhounds.

“That’s the most important thing. If you don’t re-home your dog at the end of its racing career and you win… the $1 million has to be refunded.”

NSW Racing Minister Paul Toole says the event will create “a lot of excitement” for regional centres and the industry as a whole.

“It goes to show how greyhound racing is making some changes here in this state to ensure that it’s sustainable and it’s viable.”

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Ray is issuing a strong warning to any cowboys in the industry who plan on continuing bad behaviour.

“Anyone out there listening, that thinks the old practices can be reintroduced, you’ll have a fight on your hands from me and everyone else involved.

“Let the good people get on with their business and let the crooks be kicked out.”