The Irish Jockeys Association has reached an agreement with Horse Racing Ireland and the Association of Irish Racehorse Owners for an increase in riding fees up until the end of 2020, Racing Post report.
The current fees currently work out at €161.47 (£143) for flat races and €184.59 (£163) for jump races.
However, with the agreement in place, the fees will now rise to €175 (£155) for flat races and €200 (£177) for jump races, by January 2020.
The increase works out at around a 8.6% rise for jockeys, with the fees having to come into play by the beginning of 2020.
Andrew Coonan, executive secretary of the Irish Jockeys Association, was extremely pleased after reaching a deal and said:
The increases are designed to keep pace with the ongoing costs that jockeys face.
The Irish Jockeys Association have been in talks with Horse Racing Ireland chiefs for a long period of time, however, with a deal now reached, it looks like all parties are now happy and can get their focus back to racing.