How Much Does It Cost To Own A Racehorse?

I was out at the races with my son the other day, and he got asking about whether we could own a racehorse.

We have a few horses on our homestead, but they are just companions, really—we don’t even ride them on trails, really.

But he was really into the idea of owning a racehorse, so, while I didn’t expect anything to come of it, I did agree to at least find out how much it would cost to own one.

Who knows, maybe I’d be pleasantly surprised!

So, how much does it cost to own a racehorse?

There are, naturally, a myriad of costs involved in owning a racehorse. Just in terms of care over a year period, the annual cost of owning a racehorse is, on average, around $45,000 a year. This includes pretty much everything from feed, to shelter, to vet bills.

So, on average, you’re looking around $45,000 a year for care.

Of course, you can make a profit on the horse if you have it successfully running in races.

In any case, there are many things to consider with a question like this, so let’s look further into it.

How much does it cost to buy a racehorse?

As you might expect, there’s an enormous amount of variation in this.

The most famous and successful racehorses will sell for millions at auction, even if they are only retired to a stud farm and don’t race anymore.

For a more affordable, newer racehorse, you’re still looking in the region of $70,000-$100,000.

The average sell price of a racehorse is just under $80,000.

So, buying one is not cheap.

A lot of money already goes into breeding that racehorse, so even if it has had no success on the course yet, you are still paying for the pedigree.

The initial purchase price will certainly be the biggest cost, and the one you have to spend the most time considering.

If you get a horse for a high price, then chances are that horse is a legitimate competitor with a chance to make wins on the course.

So, after the initial purchase, it doesn’t have to cost anything—it could even be profitable!

In any case, though, purchasing a racehorse is ultimately like any investment—it’s a risk.

If you believe you can make money back from the horse, then you go for it!

But you’ve got to keep in mind the risk you’re taking on.

How much does it cost to care for a racehorse?

There are many costs to consider with a racehorse.

As I said, for a real, thoroughbred racehorse, the annual cost of its care is going to average around $45,000.

This is a rather large amount of money, and includes quite a few different things.

Firstly, it includes the general care of the horse.

Feed will cost money, and you’ll need various kinds.

A constant supply of hay, and some kind of other feed to boost protein and nutrient intake.

Then, you’ll need a place for the horse to live.

This will be another big initial cost if you have nothing already, but once they are built, they won’t need much maintenance.

The thing that can make racehorses more expensive than regular horses is vets and registries.

Vets tend to charge a great deal more to deal with expensive animals, so your vet bills will be very high.

You won’t only need to see the vet if your horse is sick, either—they will be required to be checked out by the vets to race.

Finally, registering your horse with official bodies for races typically incurs annual fees.

So, it’s not cheap—but, like I said, you always have the possibility of turning a profit from a racehorse even with all these costs in mind.

Is owning a racehorse profitable?

Of course, it is, otherwise so many wouldn’t be in the business!

Obviously, however, making a racehorse profitable is not easy.

You’ve got to think about the regime you’ll have the horse on.

It will need to be trained regularly, and to be competing in as many races as it can to get used to the practice.

Once you’ve got a winner on your hands, turning a profit is just a case of choosing the right races to enter.

This, still, is not easy, but there is a knack to it, as professional horse racers will tell you.

So, however you look at it, keeping racehorses is not a cheap endeavor.

They will require a lot of care over the years, and as they are already expensive animals, that care can in some ways be more expensive.

Vets, for example, may charge more to see a racehorse.

In any case, making it profitable will be a learning curve, and there’s no easy way to do so.

Owning a racehorse that isn’t making a profit is expensive, so be sure you know what you’re getting into.