British Racehorse Owners Bear Brunt of Price Rises

Prize money in British horse racing is already amongst the lowest of any of the world’s developed racing nations, and with the news that racehorse owners are now to be asked to pay an extra £100 per horse, per year for registration fees, it would not be a surprise to see those that were thinking of leaving the sport taking this latest hit as the straw that broke the camel’s back. 

It is not the £100 in itself that is the problem; it is more that this latest rise is a symptom of the disdain with which middle to lower-end owners are being treated by the British racing authorities. With prize money levels at an all-time low in real terms following the removal of the minimum prize fund limit (due to economic difficulties), your average modest racehorse would have to win at least five times a season in order to cover training and racing expenses. When you consider that few horses manage to upset the horse racing betting odds and win once a year (if at all), it puts the financial crisis in which the sport finds itself into perspective. 

Major league racehorse owners have not been feeling the pinch; they might be down to their last £50 million instead of the £100 million they had tucked away before the financial crisis, but for middle-of-the-road earners who club together to achieve their dream of taking part in horse racing as owners, the financial burden is become far more than many can bear.

The Irish racing authorities have gone the right way about dealing with the problem in cutting significant percentages off top level Group races and showcase handicaps. Winning connections still come away with a nice prize, and the rise in stud values compensates for a reduced prize haul. But the British authorities’ actions seem designed at just one thing, and that is to keep the sport elitist and squeeze the little man out.