De Groot, who raced goats as a child, will donate $2000 to the goat racing extravaganza at this weekend's Tree of Knowledge Festival in Barcaldine in rural Queensland, making it the richest goat race in the country and the highlight of the festival.

"No kidding, these are going to be very serious races," said de Groot.

"Competitors come from all over the state and country with all goats trained and driven by experienced drivers."

According to de Groot, goat racing was an integral part of Australia's history, especially during the time of the first settlers, and he is hoping this year's event will help rejuvenate the sport and transform Barcaldine into the goat racing capital of Australia.

"The humble goat was vital to the early settlers. They are among some of the hardest working animals and their hardy efforts are part of what helped Australia become a successful nation," he said.

"We hope the prize money will help revive the century-old sport and encourage more people to take it up."

Last year, de Groot published Memoirs of a Goat Racer and More in an attempt to raise awareness about goat racing.