Daytona Beach, FL (My Sportsbook) - NASCAR is reducing the race winnings in all three of its national touring series -- Sprint Cup, Nationwide and Camping World Truck -- by 10 percent for the upcoming season.

Due to current economic conditions, NASCAR made the decision to cut the prize money for events as a cost-cutting measure for the race tracks. Most track operators have been forced to lower ticket prices due to a decline in attendance.

"Last year, we launched an industry-wide effort to help the sport manage budgets in this economy," NASCAR spokesperson Ramsey Poston said. "NASCAR did the right thing to work with the tracks to reduce their costs in order to manage the economic realities.

"In return, the tracks have done a great job reducing ticket prices and enhancing the fan experience. Likewise, we worked with the teams to contain costs, such as elimination of testing and other steps. This is consistent with how virtually every sport and business has adjusted to the economy over the past year."

NASCAR begins its 2010 season next week at Daytona International Speedway.