Racing Minister Bryan Green said today congratulated Tasmania's racing industry which has seen an increase in wagering growth across all three codes.

"The efforts to grow national and international interest in Tasmania's racing product are paying off," Mr Green said.

"The industry has had an excellent year with all codes achieving growth well in excess of CPI.

Mr Green said the total national wagering turnover was up by a combined 8.4 per cent compared to the previous financial year.

"This increase comprises a 6.7 per cent increase for thoroughbreds, 5.4 per cent for the harness code and 12 per cent for greyhounds.

"In dollar terms, turnover on thoroughbreds reached $146.8 million, the harness code turned over $64 million and the greyhounds reached $129.9 million.

"The turnover increases take on even greater significance when you consider they were achieved within a volatile national wagering market.

"Continued promotion of Tasmania's racing industry is vital to provide greater exposure, more people wagering on our racing and increased turnover.

"This will help grow our racing product and put it on a more professional and sustainable footing for the future," Mr Green said.