Sydney racing's autumn extravaganza, The Championships, will be more than a one-hit wonder with the NSW government confirming a $10 million commitment in 2015.

Premier Mike Baird made the pledge on Thursday and said while this year's inaugural staging of The Championships was successful, next year's event promised to raise the bar.

"This year over 50,000 people attended the two-day event and with greater brand awareness and more time to prepare, next year's event is only going to be bigger and better," he said.

Racing NSW hopes the industry will be able to fund The Championships in the future without a government handout.

Officials have been lobbying the Baird government to lower the NSW tax rate on wagering which is higher than any other state.

Racing NSW says a reduction in the wagering tax will allow the industry to finance the autumn racing carnival and secure the sport's future in NSW.

Baird said those negotiations were continuing.

"The NSW government is continuing to work with Racing NSW regarding state wagering tax harmonisation with Victoria and Queensland," he said.

"Any investment in The Championships would come from any proceeds of a potential harmonisation."

The government's $10 million investment will be put towards establishing a permanent quarantine facility in Sydney to cater for international horses.

The money will also contribute to a regional racing carnival which will culminate with a feature race for non-metropolitan horses during The Championships.

Racing NSW chairman John Messara said Thursday's announcement would give the industry certainty and security and enable 2014 prize money levels for The Championships to be maintained.

The carnival's biggest showpiece is the $4 million Queen Elizabeth Stakes, won this year by the Messara-owned It's A Dundeel.