I want to Buy a Race Horse..How much will it cost per month to keep up?

Question

A goal of mine has to buy a Race Horse and watch it run.. How much does this usually cost per month including food,trainer,stable fees? A Ball park number

Answer 1

Twenty-five years ago it cost about $1,000 a month.  That's with a little known trainer and me doing some of the daily chores.  Trainers will charge a daily rate (i.e. $100 a day) and that usually includes the stall, food, training, ferrier, exercise rider, sometimes jockey fees but not vet fees.  The daily rate is generally based on how good the trainer is, the better the trainer the higher the rate.  The assumption here is that the better trainer gets the better jockeys, the better exercise riders, ferrier, etc, etc.  So you should figure $3,000 to $5,000 a month to own a race horse.  

In three years of racing we broke about even.  So yes, it more a hobby than a business venture.  There are limited partnerships that one can get into but I've looked into those and though it may be cheaper than owning your own and you can be part of a better quality horse, the chance to make money seems about the same.

It's fun and a rush everytime your horse races,  it's expensive, but it can be done by the average middle class person or persons.

Answer 2

unless you have lots of $$$, most race horses are owned by more than 1 person... the odds of you actually turning a profit after all the expenses are extremly low at best. its more of a hobby for someone making a very nice income. i would think fees & expenses & other info can be found online.

Answer 3

Too much! LOL

Answer 4

Its all depending on where you want to run the horse. I owned a few horses on the So. California circuit. My trainer was $90 a day which included training, feed, groom, hotwalker, stable, and exercise rider. The price did not include vet work, shoeing, race day medications,&  jockey fees. Depending on how sound the horse is it can run up to $5000.00 per horse per month. I know it sounds expensive but there is no feeling in the world like getting your picture taken after a win.

  If you have any other questions please feel free to e-mail me at anytime.

Good luck.

Answer 5

A lot depends on what level of racing you want to try.  The cost is going to be a lot higher for a horse in the barn of a nationally-ranked trainer at a track like Santa Anita or Belmont Park than for a horse racing for a relatively unknown trainer at a track like Couer d' Alane in Idaho.

If you are really interested in getting into racing as an owner, I would recommend that you attend one of the Thoroughbred Owners and Breeders Association (TOBA) New Owners Seminars.  This website gives information on dates and locations:  http://www.toba.org/programs/seminars-an...

The TOBA also has information on costs associated with ownership of a race horse:  http://www.toba.org/owner-education/  (If you look on the left side of the page, there is a menu that includes items like "Planning Ahead" and "Costs of Ownership").

If you don't want to foot the full bill for a horse, you could join a partnership.  There are several organizations, like Dogwood Stables, West Point Thoroughbreds, and Country Life Farm that put together partnerships.  Typically, you participate as part-owner of a horse or horses that are managed by the people who put the partnership together.  In some partnerships, you pay for your share and there are no additional costs;  in other partnerships, you pay for a share, and then are billed periodically for costs of keeping the horse.  In most partnerships, the horse is sold at a pre-determined time and the profits from the sale (if any) are split among the partners.

I strongly believe that it is imperative for anyone contemplating Thoroughbred ownership to be educated about the way things work.  It is unfortunately true that racing, like any kind of big-money business, includes people who are not scrupulous or honest.  Even successful businessmen who got into the horse business at the top end of the market have been fleeced-- witness the lawsuits Jess Jackson and Satish Sanan, among others, have filed against so-called bloodstock "advisors" who were supposed to be acting on their behalf.

Contact the TOBA and even if you can't get to one of their seminars, they can send you information that will be helpful.  Good luck to you.

Answer 6

Well I do not know where you live but I can gurantee you not less the a $1000 a month.  Thats training fees and feed minus vet costs and misc.   If your horse ends up being really good and becomes stakesworth then you will have entry fees on races.

Answer 7

Oh, wow. Boarding a horse alone in my area costs over $300 a month. That is just a stall, feed, and bedding. You will have vet and farrier bills, too. The jockey and the trainer and the exercise rider and the groom will all want money and their fees vary depending on how much experience and how well known they are. You will have to buy tack - halters, saddles, bridles, etc. Then, of course it costs money to trailer the horse to various tracks, rent a stall at whatever track you are at, and there are entry fees for each race your horse enters. I hope you have deep pockets because that costs several thousand dollars a month. It isn't called the "sport of kings" for nothing!