A couple of folks have commented on how difficult it is to make money racing horses – be it at this level or any level. Though I addressed it in the “comments” section of a previous post, it probably warrants greater exposure so I’m going to address it here.
There are a couple of things to keep in mind with the Club:
– though we try and make money, the focus of the Club is for it to be an educational endeavor;
– horses further up the class ladder tend to run less often – mostly because there are fewer of them – and are more expensive so we would only be able to run one horse and that makes it difficult to show all we’re able to this way with 2 horses;
I am going to post here a link to a blog from a friend of mine, Steve Zorn, who runs partnerships in New York and races mostly on the NYRA circuit (Belmont, Aqueduct and Saratoga). The thrust of the article is that it has gotten easier to break even in NY with the addition of the slot revenue from Aqueduct. While the costs are more, so are the purses, though not in proportion.
For example, while Steve shows that the costs of training runs about $90 a day and we are only $60 ( a 33% difference) he also shows that open Maiden Special Weight purses are north of $50,000 while we were at $27,000 (a 46% difference). And while purses here have increased wonderfully (Thank you Canterbury Park/Shakopee Mdewakanton Sioux Community partnership), he states that the average claiming purse in NY is about $35 – $40,000 which is a far cry from what our average claiming purse is – maybe $20,000. However you slice it, it’s VERY hard to make money as an owner in this business.
Here is the link: