Racing Queensland has announced an immediate 17 per cent prize money increase for the greyhound and harness codes.

It follows a similar boost to prize money for thoroughbreds which was announced two weeks ago and is already in operation.

The thoroughbred increase followed a strike by trainers, jockeys, owners and breeders on October 27.

Prize money will increase collectively by $5.5 million per annum co-funded by the government and RQ, to be distributed according to each code's revenue market share.

Greyhounds will receive an increase of $3.5 million with $2 million for harness.

Want more racing news? Cups Betting delivers you the latest horse racing news from all the major thoroughbred cups and feature races.