How Much Does It Cost to Own a Racehorse? A Detailed Breakdown for Aspiring Owners

Last updated: July 9, 2025

By: Miles HenryFact Checked

Thinking about buying your first racehorse? If you’re like most people, your very first question is, “How much does it cost to own a racehorse?” As someone who’s spent over 25 years in the game, I can tell you firsthand: the expenses can hit hard. My own journey began when I bought My Fuzz at the Louisiana Breeders Sale, and that initial excitement quickly faded when I realized the purchase was just the starting line.

Over the years, I’ve owned many horses — from My Fuzz to Corked, a son of Vino Rosso I claimed off the track, to my most recent purchase, a promising Goldencents colt from the Fasig-Tipton auction. This guide, based on those experiences and data from trusted sources like The Jockey Club, breaks down every expense — buying, training, racing, and retirement.

Quick Cost Overview: What to Expect

Want a fast snapshot of racehorse ownership costs in 2025? Here’s the breakdown:

• Purchase Price:
  • Private Sales/Claiming Races: $5,000 – $20,000 (common entry point)
  • Public Auctions (Yearlings, 2-Year-Olds): $10,000 – $1,000,000+ (Average Thoroughbred yearling: $25,000 – $250,000)
• Annual Training & Maintenance: $10,000 – $120,000
• Racing Expenses: $500 – $120,000 per race
• Hidden Costs: $2,000 – $10,000 per year (insurance, emergency vet care)
• Retirement Care: $1,500 – $5,000 per year

Costs vary depending on the horse’s quality, racing level, and location. Let’s dive into the details.

Buying Your Racehorse: What You Need to Know

Buying a horse is your first step, and prices depend on where you shop. At auctions like Keeneland, Fasig-Tipton, or Tattersalls, a young Thoroughbred (yearling) can cost anywhere from $10,000 to $1,000,000. I bought Mickey’s Mularkey for $30,000 at the Breeders Sales of Louisiana, a bargain price considering his bloodline. Elite horses, like Fusaichi Pegasus, have sold for $70 million after major wins.

The Jockey Club reports 2024 averages:

• Yearlings: $54,208
• Weanlings: $40,708
• Two-Year-Olds: $58,112

Private sales or claiming races can offer more affordable options, typically ranging from $5,000 to $20,000. Final costs depend on:

✅ Family History: Horses from top bloodlines command higher prices.
✅ Track Record: Proven racehorses, like Seeking a Soldier, increase in value.
✅ Buying Method: Auctions often carry higher price tags than private sales or claims.

Hire a qualified bloodstock agent (usually a 5% fee) to assess health and potential—especially at auctions or private sales. I didn’t use one when I bought Little Millie, and I learned how easily hidden issues can slip by.

When claiming a horse off the track, like I did with Corked, a son of Vino Rosso, you don’t get a pre-purchase exam, so factor that risk into your decision. Unexpected vet bills can follow, as I quickly discovered.

Lessons from the Track: My Ownership Journey

Owning racehorses has been one of the most exciting — and expensive — chapters of my life. From buying My Fuzz 25 years ago to claiming Corked and purchasing a Goldencents colt at Fasig-Tipton, each horse has taught me something new.

One of my hardest lessons came with Mickey’s Mularkey, a Louisiana-bred I bought for $30,000 — a hefty price for a local-bred horse at the time. I sent him to top trainer Mike Stidham, whose day rate and expenses ran me around $5,000 a month. Things were going well for about six months — until Mickey colicked and required emergency surgery, costing me another $7,500.

Mickey eventually went on to earn over $180,000, but by the time I lost him in a claiming race — when he’d only made about $50,000 — I was still well in the red. It was a harsh reminder that even a talented, successful horse doesn’t guarantee a profit in this business.

Biggest lesson? You need to budget beyond the purchase price. Vet emergencies, training costs, and the unpredictability of claiming races can quickly erase your margins — even when your horse eventually performs well.

Keeping Your Horse Race-Ready: Training and Maintenance Costs

Training and daily care are the largest ongoing expenses in racehorse ownership. On average, expect to pay $3,000 – $10,000 per month (or $36,000 – $120,000 per year) to keep a horse in full training.

At top U.S. tracks like Santa Anita, trainer daily rates typically range from $100 – $150 per day. This fee generally includes:

• Coaching and daily exercise (usually by an exercise rider)
• Stabling (stall fees)
• Feed and basic daily care
• Use and maintenance of essential tack like saddles, bridles, and pads

Additional owner expenses not covered by trainer fees include:

• Vet care: $2,000 – $5,000 per year for routine checkups, vaccines, and preventative care (injuries and unexpected issues can raise this significantly)
• Farrier (hoof care): $80 – $130 every 2–4 weeks for shoeing (race plates or corrective shoes may cost more)
• Supplements: $100 – $300 per month, optional but common for joint, digestive, or coat health

Costs vary significantly by venue. Elite U.S. tracks, such as Saratoga or Del Mar, often come with higher day rates and fees. By comparison, major Canadian tracks, such as Woodbine, may offer more affordable options while still maintaining high-quality racing. For instance, at smaller tracks, total yearly expenses are often between $10,000 – $35,000. During the off-season or when your horse is on a layoff, farm care typically costs $3,500 – $5,500 for 4–6 months.

Owner Tip: Always budget for unexpected vet bills. Even routine care adds up quickly, and injuries can be costly.

Let’s uncover the hidden costs that surprise new owners.

Unexpected Expenses: Hidden Costs of Ownership

Some costs catch you off guard — and they can add up fast:

• Insurance: Equine mortality insurance typically runs 2–5% of your horse’s value (about $250–$1,500 per year for a $25,000 horse) and covers death or theft. Major medical is extra, but worth considering. I learned that lesson when one of my horses needed knee surgery, and I had to cover it entirely out of pocket.
• Emergency Vet Bills: Injuries or illnesses like colic can run $5,000–$15,000. It’s essential to learn about common equine injuries and have a financial buffer.
• Licensing: U.S. owner licenses range from $20 to $100, with extra partnership fees (around $200) or custom silks. In the UK, races add £1.20–£3.91 per ride for welfare contributions.

Bottom Line: Racehorse ownership can be rewarding — but it hinges on realistic expectations, smart budgeting, and understanding the financial risks upfront.

I often talk horses with my friend and fellow owner, George Van-estenn Taylor of Taylor Thoroughbred, LLC. Here’s how he describes his journey into Thoroughbred ownership:

My lifelong dream of owning a Thoroughbred racehorse, sparked at Churchill Downs when I was 15, became a reality in 2021. I found an agent and, at a Fasig-Tipton winter auction, submitted the winning bid on a beautiful chestnut mare named Heir to Glory for $9,000. The very next day, I discovered she had foaled a colt just 24 hours before the sale—suddenly, I was a Thoroughbred racehorse owner!

Shortly after, financial reality hit. My agent provided a list of expenses—trainer’s day rate, farrier, and transportation, among others—and monthly boarding and vet bills quickly added up, making me realize why racehorse ownership is often called a ‘rich man’s game.’ Despite the rising costs with subsequent breedings (producing Power to Glory in 2022, Ali’s Glory in 2024, and Star to Glory in 2025), my passion has kept me going. As sole owner and breeder of Taylor Thoroughbred, LLC, I can truly say the cost of owning a racehorse is ‘always under Financial Construction,’ and the risk is one only an owner can determine to initiate.”

Stories like George’s highlight both the excitement and the realities of racehorse ownership—be sure to budget carefully and seek advice from experienced owners.

Competing on the Track: Racing Expenses

Racing is the heart of the sport—but it comes with its own set of costs that vary by race and location:

• Entry Fees: Regular races are often free, but stakes races (like the Breeders’ Cup) can cost $3,000 – $120,000, which may be 1–2% of the purse. The Kentucky Derby requires a $600 nomination fee, plus $25,000 each for entry and starting.
• Jockey Fees: Jockeys typically earn a mount fee close to $100 per race, regardless of finish. On top of that, they receive 10% of any winnings.
• Travel: Transport costs roughly $0.50 per mile, plus additional staff expenses. For example, moving a horse to Churchill Downs might cost around $1,000 round-trip.
• Gear: Saddles, bridles, and pads are essential but generally included under the trainer’s care package, so owners usually don’t pay directly for those. However, owners typically buy and maintain their racing silks, which can cost anywhere from $300 to $1,000 or more, depending on quality and customization.

Owners receive between 50–80% of prize money, helping offset these expenses. For example, a $10,000 win might net the owner about $7,000 after the jockey’s cut.

Here’s how to make ownership more affordable.

Saving Money: Smart Strategies for Ownership

You can own a racehorse on a budget by using these strategies:

• Syndicates: Share costs with others. While I didn’t syndicate Aunt Addies, many owners cut expenses by 60% or more by splitting costs across a group.
• Racing Clubs: Join clubs like the Churchill Downs Racing Club for as little as $500 to get involved.
• Claiming Races: Purchase proven horses for $5,000 – $20,000 — a cost-effective entry point.
• Tax Benefits: In the U.S., ownership expenses may be tax-deductible. I saved around $10,000 owning horses—consult your accountant.
• Leasing: Avoid large upfront costs by leasing, though winnings are usually shared.

In Australia, syndicates offer 2.5% shares for about $1,000, while U.S. syndicates typically sell 5% shares for $2,000–$5,000, depending on the horse and competition level.

Owner Tip: Joining a syndicate is a great way to save money and share the financial risks.

Next, let’s compare ownership costs around the world.

Global Costs: Ownership Around the World

Racehorse ownership costs vary widely by country:

• United States: $20,000 – $100,000 per year, with daily training rates around $85 – $120/day.
• United Kingdom: £17,000 – £70,000 per year, with training averaging £2,000 – £3,000 per month, according to the British Horseracing Authority.
• Australia: Around $40,000 per year, roughly 20% cheaper than the U.S., per Racing Victoria. Syndicates there make ownership more accessible for everyday enthusiasts.
• Dubai: $100,000 – $1,000,000 per year, with elite training costs between $5,000 – $15,000 per month, according to the Dubai Racing Club.

Next, let’s talk about ethical ownership and caring for horses beyond their racing careers.

Caring for Your Horse: Ethical Ownership

Owning a racehorse means putting its welfare first — both on and off the track. The Horseracing Integrity and Safety Authority (HISA) enforces strict care standards to protect racehorses during competition.

But true responsibility goes beyond racing. Major medical care, like the $8,000 surgery I paid for when Corked injured his knee, is part of the commitment. When a horse’s racing career ends, retirement care becomes essential — typically $1,500 – $5,000 per year. I personally budget $2,000 per year for Diamond Country‘s retirement, supported by organizations like the Thoroughbred Aftercare Alliance.

For more on the welfare debate in racing, visit Is Horse Racing Cruel?.

Let’s wrap up with what this means for you as a potential owner.

FAQ: Your Questions Answered About How Much Does It Cost to Own a Racehorse?

Is Racehorse Ownership Right for You?

Racehorse ownership is a thrilling dream, but after 25 years with horses like Little Millie, Corked, and Diamond Country, I’ve learned it’s a significant investment—often $10,000 to $120,000 per year for training and care, plus the initial purchase price. My biggest lessons are simple: expect the unexpected, budget carefully, and always put the horse’s welfare first.

The bottom line: While prize money helps, for most owners it’s about passion, not profit. Success feels incredible, but this sport demands patience, resilience, and a true love of the animals.

Thinking about ownership? Start small—join a syndicate, lease a horse, or connect with experienced owners. Have questions? Drop them in the comments—I’m happy to share what I’ve learned.