Finishers receive a percentage of the purse, with 60% going to the winner, 20% to the runner-up, 10% to third place, 5% to fourth, 3% to fifth, and 2% to sixth. So, the owner of a winning horse in a race with a $20,000 purse would make $12,000.
Over $800 million in prizemoney is distributed annually throughout Australia, with stakes levels increasing by 84% in the past decade. Additionally, Australia's prizemoney is considerably enhanced by 'bonus schemes' in each state.
Prize Money
The percentages a jockey receives for a Thoroughbred race range from 5% for a second- or third-place finish to 10% for first place.
As a hobby owner, all prize money is tax free. You will also be pleased to know hobby owners are free from capital gains tax on the sale of your horse.
The Everest Horse Race is the richest horse race in the Australia. It takes place each October at the renowned Royal Randwick Racecourse in Sydney, Australia. The race is for horses aged three years and older, and the purse for the event is an incredible $15 million.
The Golden Slipper Stakes is easily the richest horse race in the world for 2-year-olds. Since 1957, the race has been one of the most followed races in all Australia and has produced some of the greatest champions in horse racing. This year's event kicks off on April 7, 2012 and has a prize pool of $3.5 million.
Saudi Cup horse racing events will see a total prize pool of $35.5m, making the two-day event the richest horse race in the world.
Jockeys are entitled to 5% of the prize money earned and will usually also receive a small amount for booking the ride.
What percentage of winnings do horse owners get? Typically, race winnings are distributed with approximately 60% going to the winner, 20% to second place, and 10% to third place. The remainder is divided among other top finishers. Owners often pay a percentage to the trainer and jockey.
It cost approximately $50,000 per year to maintain a horse. If you own a 5% share, the following may apply: $50,000 / 52 weeks = Approximately $960 per week. $960 / 20 shares = An average of $48 per week per 5% share.
Jockey salaries typically range between $35,000 and $77,000 yearly. The average hourly rate for jockeys is $25.31 per hour. Jockey salary is impacted by location, education, and experience. Jockeys earn the highest average salary in Alaska, Utah, North Dakota, California, and Nevada.
Jockeys are usually paid a mount fee which is a sum of money for each horse they race and a percentage of the prize money if they place first, second or third.
What horse bet pays the most? The horse bets that pay the most are the accumulators. However, with an accumulator bet, all your horse racing selections need to win (or place if each-way) so there is less chance of you winning. But as the odds are higher this gives you the highest-paying returns.
The winnings you would receive from a bet is calculated by multiplying your stake by the odds. So a stake of £1 would pay £4 profit, plus your stake back, which is a total return of £5.
The Australian Derby (2400m) boasts a total prize pool of $2,000,000 and is at set weight conditions for three year old horses.
Typically, the lion's share goes to the owner of the winning horse, usually around 80% of the total purse. The trainer, who prepares the horse for the race, gets about 10%. The jockey, the brave rider steering the horse to victory, also gets about 10%.
You can generally expect to pay anywhere in the range of $1,500 to $60,000 or more to buy a horse. The price is highly dependent on the age of the horse, level of training and skills required by the rider.
The researchers found that an average adult light riding horse could comfortably carry about 20 percent of their ideal bodyweight. This result agrees with the value recommended by the Certified Horsemanship Association and the U.S. Cavalry Manuals of Horse Management published in 1920.
Jockey Prize Money Melbourne Cup
The Melbourne Cup prize money for the winning jockey is $220,000 which totals 5% of the Melbourne Cup payout for 1st place. They also receive a replica miniature cup valued at $10,000.
1. Yutaka Take. Taking the top spot is Japan's Yutaka Take, who has earned an estimated $925m throughout his extensive career, picking up over 4,400 wins in the process. With a record like that, Take is certainly the hottest ticket in town.
Winnings. Thoroughbred trainers typically get 10% of the purse when their horses win races or come as second or third. For instance, the trainer will get $3,000 when a purse is $30,000. Some successful trainers can earn approximately $10,000 per month that way.
Finishers receive a percentage of the purse, with 60% going to the winner, 20% to the runner-up, 10% to third place, 5% to fourth, 3% to fifth, and 2% to sixth.
World's most expensive racehorse Fusaichi Pegasus dies aged 26 after shattering records. The most expensive racehorse ever, Fusaichi Pegasus, who was bought to go to stud for $70million, has died of old age in the United States. As a yearling he fetched $4m when he was bought by Japanese businessman Fusao Sekiguchi.