Several good questions have arisen in the comments to the previous post and I will address them here.
The life of a racehorse owner always seems to involve bills. When May comes to a conclusion we will receive one from Tammy for the day rate ($50 per) as well as any feed supplements and also a charge for 10% of the purse for the win. There will also be a vet bill for race day medications and any supplements that must be administered by the vet.
More about those that work with the horses on a daily basis: most grooms are paid a weekly flat rate by the trainer. The trainer also pays those who gallop and exercise the horses in the morning. The second level of the barns on Canterbury’s backside contain dorm rooms where grooms and hotwalkers live. Canterbury does not charge for those living quarters either.
Canterbury owns the stalls and allots them to trainers at no charge. We do not have a full stable area so anyone that wanted stalls was given what they asked for. But at some tracks where the demand is high or there are fewer stalls, the racing secretary looks through the horses and assigns stalls. It is not rare for a trainer to ask for 15 stalls at a track and only be granted 10.
The feed, hay and bedding are also paid for by the trainer. You can see where much of that day rate goes. The trainer is also responsible for carrying workers comp insurance. So having horses ready to run well, and receiving that 10% cut of owners’ share of the purse is where a trainer really gets paid.