Besides initial cost of horse, roughly how much should I expect to spend on a harness racing horse?

Question

Besides initial cost of horse, roughly how much should I expect to spend on a harness racing horse?

Answer 1

The above answer covers a lot of the costs, but don't forget that the best trainers cost a lot and if you want a stakes horse...........well good horses need to be staked starting from birth.  We spent over 20,000 dollars staking my three yo filly.

Answer 2

It probably depends on how experienced the horse is but I don't really know how much the real amount would cost.

Answer 3

Don't know specific dollar amounts but here are some things to consider as an owner: If you're starting from scratch, all the harnesses, sulky ,bridle & bits are rather expensive. Try to get a trainer that will let you use his/her equipment.  You will have farrier costs, more so  during racing season.Regular  veterinary care; and hopefully the horse stays healthy. Depending upon the facility; stall fees, racing license fees, possibly insurance. Almost forgot, the horse needs food, and not just any old food if it's an athlete. Hopefully the horse will be "in the money" (usually the top five places) most of the time, so you can pick up a check. You will have to pay a "prep" person in the paddock, for work done before and after the race (and a nice extra tip if the horse wins). Maybe your trainer will do all the prep and post race work to save you a

$few. Of course the trainer and driver get a predetermined

percentage of your winnings. Hopefully, there are winnings!

Transportation costs if your horse races at a different track.

Of course you'll probably want to bet on your horse too. Careful, this could burn up all the profits.

If your horse consistently comes in the top three or so, you have a good chance of breaking even, or making a profit.

You might want to consider going into a partnership with someone knowledgeable about the ins and outs of the sport.

The "up" side: It is fun and exciting! Especially having your picture taken in the Winner's circle.

You can always "claim" a horse that you like and can afford.

Generally, Standardbreds are less expensive than throughobreds, of equal quality.

Be careful, it's a relatively serious investment, and there are some unscrupulous horse people out there; sad ,but true.

Talk to a horseperson at your local track for details.

Answer 4

Depending on the track you should pay around $600 a mo. out the door.

Answer 5

I could write volumes on this subject!  First, and most important, is to find a local trainer in your area who is HONEST.  As in any business, there are all kinds of people involved.  The actual costs of owning a harness horse, trotter or pacer depends on the area where you will be training/racing your horse, and the level of horse.  

Sometime "cheaper" horses end up costing more due to the maintenance issues, i.e., vet work, etc...stakes caliber horses, while the cost more initially, also cost more to "keep staked" to the various races.

For someone wanting to get involved in the racing business, it would CERTAINLY be best to find a partner who knows the business.  People that try to do it themselves, often learn the hard way, losing a lot of money and getting taken advantage of...(myself included!).  Even as an attorney, when I got involved it was difficult...that was 17 years and about 50 horses ago!

That said, its the most fun that I have ever had in any endeavor, and also, at times the most disappointing.  Like when my trotter was 3 lengths in the lead in the Breeder's Crown ($800,000.00 purse!) and broke in the stretch, finishing last!

To go back to answering your initial question...in the metropolitan New York/New Jersey area it averages  in the vicinity of $3,500. - $4,500.00 per month to keep a horse training and racing.  Remember, this can vary widely!

I have brought several people into the business...and I tell everyone the same thing...you will have a wonderful, exciting time...but be sure to only use money that you can afford to lose.  Its just like going to the racetrack and gambling...if you can't afford to lose, you shouldn't be there!  I currently own a stallion, 2 broodmares and three trotters that are in training/racing.

Its a fantastic and fun adventure...but the path is full of potential potholes if you don't watch out...be careful!