Organisers cited the recent outbreaks of COVID-19 across NSW as the main reason for the cancellation.

"There have been a few outbreaks around the state, borders have been closed, and there was a fair bit of uncertainty about how things were going to look when we'd be hosting the event," Scott Dixon, president of the Carrathool Jockey Club said.

"We're disappointed as a committee that we can't keep it going, but in lieu of everything there's too many unknowns."

Mr Dixon said there were concerns regarding attracting numbers, and on how to implement a cash-less payment system in an area with little to no phone reception.

The races were meant to be taking place on February 6.

The cancellation has come at a frustrating time for the event, which had been gaining popularity in recent years.

"Our recipe for the event has changed over the past few years," Mr Dixon said. "We gone for a lot of marquees, we've got entertainment with a few live bands playing, and that's helped us leap from 800 people three years ago, to 1800 last year."

He said it was a shame to not keep the momentum going, but organisers would rather play it safe than hold a watered down version of the event.

There has been no talk of postponing the races to a later date, but Mr Dixon said the event would be back next year, if conditions allow.

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