Related Expenses To Consider
Owning a racing American Quarter Horse can be a rewarding experience. After acquiring your athlete and following his progress through training and morning workouts, the goal is to join your friends for the magical moment in the winner’s circle.
Like any sport, there are certain fixed expenses associated with getting your horse to the winner’s circle. And like any business investment, you should take some time to acquaint yourself with these costs.
Licensing
Every state requires an owner to be licensed before conducting business in that state. The owner’s license is issued by the state racing commission and can be renewed annually or might be good for as long as three years. On the average, the owner’s license will cost $50 to $75 annually.
Insurance
Before any work begins to prepare your athlete for his racing career, or after you claim a horse and continue his racing campaign, you might want to consider purchasing insurance on the horse. These policies, called mortality insurance, reimburse you for the value of the horse should it die as a result of an accident, sickness or disease. The cost of this insurance runs approximately 5 1/2 percent to 7 1/2 percent of the horse’s value. This percentage remains fairly constant regardless of the state in which you are racing.
Daily Training Costs
Your next step is to find a trainer for your racehorse. Trainers charge “day money” to cover the costs of training and caring for your horse. In the Southwest, the daily cost of training can run between $25 and $35. On the West Coast, trainers charge between $35 and $45 per day. While these costs vary considerably, they are directly related to the trainer’s cost of doing business (i.e., cost of feed, hay, bedding, etc).
Veterinary/Farrier Costs
Like any athlete, racehorses require special care. While your horse is in training, you can expect veterinary bills to run between $200 and $300 a month for routine care.
You can learn more about veterinary care or locate a vet in your area by contacting AQHA Corporate Partner Bayer Animal Health at (800) GET-A-DVM or by visiting getadvm.com.
Footwear has become highly specialized for all sports. These days, you can buy walking, running, hiking and climbing shoes. Your horse will need special racing shoes to be competitive. A farrier can charge anywhere from $50 to $70 to fit these shoes, which generally are changed once a month.
Lay-ups/Turn Outs
After a long, hard campaign, or if your horse is injured, he will need to take a break from racing to freshen up or recuperate from his injury. If you don’t have a facility to accommodate him, he will be “turned out” at a ranch or farm. The costs for turn outs range between $10 to $15 a day depending on where the facility is located.
Jockey Fees
As an owner, you will receive all of the money that your horse earns after paying 10 percent of the earnings to your trainer. The jockey who rides your horse also gets a “mount fee,” and also might be entitled to 5 percent to 10 percent of the purse money depending on the size of the purse, the type of race and where the horse finished.
Many horse enthusiasts enter into partnerships with other racing fans to offset the costs of owning a horse. But whether you’re a single owner or a partner, plan on spending some time at the racetrack to learn the game.
Unlike many other sports, American Quarter Horse racing gives you the opportunity to recoup your investment through the purse money your horse earns at the racetrack. Like the costs associated with racing your horse, purse money varies at different tracks.
As an investor in the game of racing, it is important that you become familiar with the costs of racing an American Quarter Horse. A good racehorse handled by a good trainer can bring years of enjoyment and hopefully produce some profits.
When all the elements come together, you can bank on having a rewarding experience owning “Everyone’s All-American!”
Members of AQHA enjoy advantages offered through various Corporate Partners. Products, barns, fences to sports medicine products, and trucks and trailers. We encourage you to check out our list of Corporate Partners at aqha.com or by reading The American Quarter Horse Racing Journal.