How Much Money Does Horse Racing Make

How Much Do Jockeys Make?

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May and June are the highest-profile months for horse racing in the United States with the running of the Triple Crown races: the Kentucky Derby, Preakness Stakes and Belmont Stakes. Those marquee races are known for their rich purses — the 2021 Kentucky Derby'due south purse was $3 million, with $1.86 million going to the winner, Medina Spirit — although months afterward, that is still under investigation due to the horse'southward failed drug test.

Far less attending is given to the jockey, the person who travels the whole way with the horse. A winning jockey takes x% of the equus caballus's purse at the Kentucky Derby, then $186,000 for this yr's Derby winner, John Velazquez. From those winnings Velazquez likely paid a 25% fee to his agent and a five% tip to the valet who helped him set up his gear for the race, according to CNBC. That's nonetheless a huge payday in a sport where an average yr'southward earning can be $xxx,000-$xl,000, according to Career Trend — and every bit recently as 2018, paid half of North America's 1,559 thoroughbred jockeys less than $12,000 per year, co-ordinate to Thoroughbred Racing Commentary, based on horses' prize winnings.

Did You lot Know?

Jockeys are some of the original "gig workers" considering they work as contained contractors. Rather than earn a bacon, a jockey receives a "mounting fee" (oftenen $fifty-$110) for each race, riding sometimes eight races per twenty-four hours.

The existent money for jockeys comes from prize coin, if they can ride a horse to terminate first, second or third in a race and earn part of the purse. The percentages a jockey receives for a thoroughbred race range from 5% for a second- or third-place end to 10% for beginning identify, according to the Covington Reporter. In less competitive races, the jockey'southward earnings can be equally low as 0.5% for a third-identify finish, 1% for placing second and mayhap 6%-10% for first place, Career Trend reported.

Like other gig workers, jockeys often accept to pay for their own equipment, which might include saddles, helmets, vests, goggles, boots and whips.

Certainly, the top jockeys practise quite well. The winningest thoroughbred jockey in history is Velazquez, who has earned $446,204,561 in his long career. He started well-nigh 35,000 races, winning vi,530. In ii020, the highest-earning U.S. jockey was Irad Ortiz, Jr., who rode more than 1,260 mounts, with 300 wins, for earnings of just over $21 million.

In 2020, the average earnings of the top 100 jockeys in the U.s.a. was around $3.5 meg, BloodHorse reported.

Daria Uhlig contributed to the reporting for this article.

Information is authentic as of Mar. 31, 2021.

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