Owning
a share in a race horse will not only bring great excitement
and exhilaration, but can also return a dividend
in the form of prize money. In Australia,
the prize money on offer for a race is as good as anywhere
in the world. The prize money for winning a Saturday metropolitan
race would normally cover the training and up-keep of your
horse for approximately one year.
In
normal circumstances, first place prize money
equates to 66% of the overall stakes for any particular race.
Owners are also encouraged by the fact that some prize money
is generally paid to the first four or five place-getters
which helps with your overall racing costs.
Before
any prize money is distributed to the owners by the race clubs,
a standard deduction of 10% for the trainer
and 5% for the jockey will be taken from
all prize money. Also some trainers may additionally charge
on wins only which is seen as a bonus percentage
rewarding their efforts for producing your horse to
win at the races. This additional charge by a trainer
is usually between 2.5% and 5% of the winning prize money
and would be outlined by the trainer for the owner(s).
Here
is an example of the standard Saturday Metropolitan Prize
Money on offer extracted from the Racing NSW website:
Owner
Information
