How does an owner make money racing their horse? February 16th, 2010
I was curious with all the talk about horse racing, how does a horse owner make money specifically related to racing? Is it through racing fees, -that is to allow the horse to race which in turns attracts bettors etc?
Most owners actually don’t make money racing.
Only about 70% of all Thoroughbreds ever get to the races, and only about 55% of all Thoroughbreds ever win a race. It costs about $25,000, give or take a few thousand, to keep a horse in training for a year; more for the major racing centers like New York or Southern California, less for tracks away from the major population centers. roughly 10-15% of all Thoroughbreds earn enough money during the course of a year to cover their training expenses.
Some owners can recover the residual value of their horse at the end of its racing career by selling, but most racehorses– particular male racehorses– have residual value that is low or even zero at the end of their racing careers.
Basically, most people who are in racing are in it for the excitement, the fun, the competition; and the hope that maybe they’ll be the one to strike it rich with a horse like Mine That Bird– or one of his relatives. It’s the hope of getting that one special horse, plus the love of racing in general, that keeps people going.
Horses, birds, and ...fish!
February 16th, 2010 at 12:50 pm
Basically, all there is to it is that when a horse finishes 1st, 2nd, 3rd, or 4th in a race, it earns money from the race’s purse. About 10% of this goes to the jockey, and the rest is for the owner (who still has to pay the trainer, though).
References :
Karin C
February 16th, 2010 at 1:38 pm
Most owners actually don’t make money racing.
Only about 70% of all Thoroughbreds ever get to the races, and only about 55% of all Thoroughbreds ever win a race. It costs about $25,000, give or take a few thousand, to keep a horse in training for a year; more for the major racing centers like New York or Southern California, less for tracks away from the major population centers. roughly 10-15% of all Thoroughbreds earn enough money during the course of a year to cover their training expenses.
Some owners can recover the residual value of their horse at the end of its racing career by selling, but most racehorses– particular male racehorses– have residual value that is low or even zero at the end of their racing careers.
Basically, most people who are in racing are in it for the excitement, the fun, the competition; and the hope that maybe they’ll be the one to strike it rich with a horse like Mine That Bird– or one of his relatives. It’s the hope of getting that one special horse, plus the love of racing in general, that keeps people going.
References :