While owning a racehorse seems like an excellent experience, it should be one that you know you can 100 percent financially handle. One thing is certain and that is that you and your check book will be addressing each other by your first name after the first year’s end – because the average racehorse owner spends around $60,000 annually with boarding, training, and all the other expenses on the list.
So, if you’re thinking about investing in a racehorse and are unsure of the costs, this is a layout of what you might be spending (rough estimate):
– The Day Rate will pay for training, housing, and feed while your horse is at the tract which can go anywhere from $40 a day to $120 – per horse.
– Shoe costs go anywhere from $100 to $400.
– If your horse suffers an injury, an anabolic steroid injection can be as much as $60.
– If you are paying a jockey, then they usually make around $35 to $100 per race.
– Plus there is the cost of insurance, taxes, licenses etc.
However, if you invest in a racehorse partnership you can cut all those fees in half and watch the winnings roll in. Need to know how much money you can potentially make?
Seattle Slew, a racehorse purchased in 1975 for $17,500 won its owners $1,208,726 in his career – which includes 14 first place trophies. So, it could be worth the investment if you are passionate enough about horses, but why wouldn’t you be? They are well-crafted machines made of pure muscle.