The salaries of Horse Jockeys in the US range from $10,049 to $271,427, with a median salary of $48,880. The middle 57% of Horse Jockeys makes between $48,882 and $123,036, with the top 86% making $271,427.
How much does a horse riding jockey make?
However, as a general rule of thumb Flat jockeys receive around 7% of the advertised win prize and 3% of the advertised place prize. Jump Jockeys receive around 9% of the win prize and 4% of the place prize. The riding fee is negotiated annually between the PJA and the ROA.
How much does a jockey make if they win?
A winning jockey is entitled to 10% of the horse owner’s share of the purse. So, if a race has a purse of $100,000, the winning horse owner will typically receive 60% of it, which is $60,000.
Are jockeys wealthy?
In 2020, the highest-earning U.S. jockey was Irad Ortiz Jr., who rode more than 1,260 mounts, with about 300 wins, for earnings of just over $21 million. In 2020, the average earning of the top 100 jockeys in the United States was around $3.5 million, per BloodHorse.
Do jockeys get paid if they don’t win?
Rather than earn a salary, a jockey receives a “mounting fee” (often $50-$110) for each race, riding sometimes eight races per day. The real money for jockeys comes from prize money, if they can ride a horse to finish first, second or third in a race and earn part of the purse.
What horse did Mike Smith?
Justify, ridden by jockey Mike Smith, crosses the finish line to win the 2018 Belmont Stakes and the coveted Triple Crown in Elmont, N.Y.
Do jockeys get paid for riding out?
If the horse is withdrawn before the signal to mount is given, the Jockey will receive 50% of the riding fee. If the race is declared void or the fixture abandoned after declaration time no fee will be paid. If the horse is withdrawn after the signal to mount is given, the Jockey will receive the full riding fee.
Do jockeys get paid track work?
Apprentice Jockeys are paid a set wage, which increases each year during the apprenticeship. Earnings from race rides and prize money are held in trust by Racing NSW until the apprentice jockey turns 21 years of age, or longer if you choose.
How much does a jockey get for winning the Gold Cup?
Most of the time the range for jump racing jockeys sits between 8 and 9 percent, whilst flat racing jockeys find their prize money cut sitting at around 7 percent. Regardless of whether you’re talking about jump racing or flat racing, they’ll receive 3.5 percent of a placed finish’s prize money.
Do jockeys talk during races?
Jockeys do talk to each other during races. The leading Flat jockey Greville Starkey used to do a marvellous imitation of a barking dog and occasionally went into his routine during a finish to put off an opponent’s mount.
How much do horse owners make?
From horses’ earnings, jockey and training fees are paid. After monthly expenses and fees are paid, there is usually very little profit remaining for the horse owner. As an example, in a race with a purse of $10,000, the winning horse owner gets $6000.
What’s the average weight of a jockey?
The weight of a jockey usually ranges from 108 to 118 lb (49 to 54 kg). Despite their light weight, they must be able to control a horse that is moving at 40 mph (64 km/h) and weighs 1,190.5 lb (540.0 kg). Though there is no height limit for jockeys, they are usually fairly short due to the weight limits.
Why do jockeys get weighed after the race?
Each horse in a race has to carry a certain amount of weight. Once the jockey has weighed out, he hands the saddle to the trainer or the trainer’s assistant to saddle up the horse. After the race the jockey must weigh in with all his kit, to confirm that the horse carried the right weight.
What is Ryan Moore salary?
All said, he has earned more than 147.4 million Pounds and is still going strong. Ryan Moore has been riding since 2000, and he is the only rider to earn more than 8 million Pounds in a season in Britain.
How Much Do Horse Racing Jockeys Make? (Average Yearly Salary)
Choosing to become a jockey is an exciting and unique job that provides the chance to ride a variety of horses. Although it has the potential to be a rewarding career, how much do horse racing jockeys make is a mystery. Horse jockeys in the United States make an average of $52,737 per year. Their remuneration is determined by the class level of the race in which they are competing, the number of races in which they compete, and the position they finish in the race. A jockey’s earnings might range from as little as $28 to as much as $184,000 or more every race.
Some jockeys will compete in as many as eight or nine races in a single day.
Experience and Requirements Needed to Become a Jockey
A person who wishes to pursue a career as a jockey must have previous horseback riding expertise. Jocking school or an apprenticeship are two of the most common ways for new jockeys to get valuable racing experience. An individual who wishes to attend jockey school must possess a high school diploma or a GED. In addition, previous horseback riding expertise is essential. There are only a handful of racing courses available, with the North American Racing Academy in Lexington serving as the most prominent of the bunch.
- For a person to keep up with the rigors of racing, they must be tough, strong, and physically fit.
- Someone can obtain their jockey’s license if they have successfully completed either school or an apprenticeship and have gained sufficient experience.
- Jocks weigh between 108 and 118 pounds on average, depending on the sport.
- Horse racing requires athletes to be both physically and mentally fit in order to keep up with the rigors of the sport.
- Travel is typical for jockeys, especially those at the top of the sport’s hierarchy.
Entry-Level Salary of a Jockey
The starting compensation for a horse jockey is roughly $10,049, and it rises in line with experience and performance. The process of moving up the rankings takes time and experience. Beginner riders would often participate in maiden and claiming races, as they are the most challenging events for them. Maiden races are reserved for horses that have not yet earned a victory and are only getting started in their professional careers. Every horse running in a claiming race, which is the most popular form, is available for purchase.
Allowance races are a step up from claiming races, although they are not quite as competitive as graded stakes events in terms of money.
Graded races are classified into three categories: Grade I, Grade II, and Grade III. Because these events are worth more money, riders who compete in graded stakes races will earn more money than those who do not.
Salary of a Top-Ranking Professional Jockey
Only a few of professional riders make it to the top of the world’s horse racing standings. A top-ranking professional jockey will earn an average of $271,427 per year, with just a select handful earning more than $2 million per year in earnings. It takes years of experience and a great deal of talent to rise to the top of any organization. Only a handful of jockeys will become billionaires throughout their careers, since the vast majority will struggle to make ends meet. Top-ranked jockeys frequently participate in graded stakes and allowance races, which are held on a weekly basis.
There are nearly 100 Grade I races in the United States, with an average prize of more than $800,000 each race.
How Much Does a Jockey Per Race?
The amount of money a horse jockey earns every race is determined by the amount of money awarded to the winner of the race. A victorious rider is entitled to a part of the purse equal to ten percent of the horse owner’s share. To put it another way, if the prize money for a race is $100,000, the winning horse owner will normally receive 60% of the money, or $60,000. The jockey will then receive a percentage of the money, which would be $6,000 in total. In contrast, in lesser circuits, the payout for a race is sometimes just about $10,000 or less for each race.
Jockey Earnings for Second and Third-Place
Jockeys often receive 5-10 percent of the owner’s profits for second and third-place results, depending on the race. Owners often earn 20 percent of the purse money for second place, and 10 percent of the purse money for third place, according to industry standards. For example, in a $100,000 race with a $20,000 first-place prize, the owner of the second-place horse would take home $20,000 in prize money. The rider who finished in second place would most likely get between $1,000 and $2,000 in prize money.
In addition to the mount fee, all jockeys competing in a race will be compensated.
A mount fee typically ranges between $75 and $135 each race.
How Much Does a Jockey Make in the Kentucky Derby?
The Kentucky Derby is unquestionably the most famous horse race in the United States. During “The Run for the Roses,” which takes place every year in May, up to 20 of the nation’s greatest racehorses compete against one other. A total of $3 million has been set aside for the Kentucky Derby prize this year. The winning horse in the Kentucky Derby receives 62 percent of the prize money, or $1.86 million, for his efforts. The victorious rider receives a staggering $186,500 in prize money. In the Kentucky Derby, the second and third-place finishers each get 5 percent of their horse’s earnings, which amounts to $600,000 and $300,000 in prize money, respectively.
The horse that finishes fourth wins $100,000, while the horse that finishes fifth earns $60,000.
The fourth-place jockey receives $7,000 in prize money, while the fifth-place rider receives $4,200. As for the remainder of the riders in the Kentucky Derby, it is likely that they will only earn a few hundred dollars from their efforts.
Highest Paid Jockeys in the World
John R. Velazquez is now the highest-paid jockey in the world, having earned a total of $439,231,021 in his career. Velazquez began racing professionally in 1990, following his graduation from jockey school in his home country of Puerto Rico. Velazquez has competed in more than 34,000 races, winning more than 6,300 of those contests. He has four Kentucky Derby victories to his credit, as well as two Belmont Stakes victories. In addition, he has won 18 Breeders’ Cup races and a slew of other Grade I stakes events during the course of his career.
- Mike E.
- Taking fourth place with $297,914,839 is Pat Day, while fifth place goes to Jerry D.
- Bailey Eddie Acaro, who is included in our list of the greatest jockeys of all time, has earned a total of $2.2 million throughout the course of his 25-year career.
- He is one of the first jockeys in history to achieve more than a million dollars in earnings.
- Only a handful of them jockeys have earned more than a million dollars in their careers.
- The profession may, on the other hand, be quite rewarding, providing several excellent prospects as well as the opportunity to ride some of the best racehorses living.
Here’s how much money the winning Kentucky Derby jockey will earn tonight
The 144th running of the Kentucky Derby will take place on Saturday at Churchill Downs in Louisville, Kentucky. The event is supposed to begin at 6:46 p.m. ET, but the post time is set for 6:34 p.m. ET. The two-minute race will begin at 6:34 p.m. ET. Justify, the favorite for tonight’s race, will start from post position seven and will be attempting to become the sixth consecutive favorite to win the Kentucky Derby for the first time. In total, 20 horses will compete for the opportunity to win the first leg of the Triple Crown, with prize money also on the line.
- The winning horse’s owner receives 62 percent of the payout, or $1.24 million, for his or her investment.
- After paying his agent and the valet, who is in charge of putting the jockey’s equipment together, the total will be reduced to around $100,000.
- Even so, it’s a great payoff for only two minutes of effort on my part.
- After costs, their take-home pay will be closer to $14,000 and $7,000, respectively.
- According to jockey agent Ron Anderson, their ride is only worth “a couple hundred dollars apiece” in 2010, according to CNBC.
Do you like this story? Like CNBC Make It on Facebook to stay up to date! Don’t miss out on: If you want to drink a $1,500 mint julep during the Kentucky Derby, here’s what makes it so expensive: the ingredients.
What Do Jockeys Earn?
If you’ve always desired to be the first horse to cross the finish line in a horse race, becoming a jockey could be the best career choice for you. Working as a jockey necessitates the possession of appropriate physical characteristics, dedication, and the chance to learn as an apprentice under a renowned trainer. Although just a small number of jockeys compete in the Kentucky Derby, the United States has more than 50 racetracks, and there are even more across the world. As little as $28 can be earned for a single race, with the possibility of earning as much as $124,000 for a triple crown battle.
The responsibilities of a jockey go much beyond simply riding a horse to victory. Each day begins with a weight check at the track, which takes place very early in the morning. If a jockey’s weight reaches 115 pounds, he or she must first undergo a session in the hot box or sauna to loosen up. Some jockeys choose to eat only one little meal every day in order to keep their weight stable. Following the weight check, a rider prepares a horse for competition. This is referred to as a breeze, and the rider may choose to race more than one horse in the morning depending on the conditions.
On race days, a jockey will ride one or more horses in a race that will often take place in the evening.
The majority of jockeys begin their careers at an early age, riding horses and learning about the racing industry. Upon reaching the age of sixteen, a potential jockey can begin formally working with a trainer or enrolling in an apprenticeship program. In the United States, there is just one recognized racing academy, which is situated in Lexington, Kentucky. In addition to instruction about professional racing, nutrition, communication, horse care, and racing laws, education also includes information on other topics.
This is the first step on the path to become a professional racehorse jockey.
The compensation for jockeys varies depending on their level of expertise and track record of accomplishment. In 2015, starting jockeys earned as little as $28 per race on the low end and as much as $124,000 for winning the top prize in a premier race on the high end. The earnings of jockeys who do not finish in the top five in a Triple Crown race can be in the low hundreds of thousands of dollars. A lot of jockeys are represented by agents who take a percentage of their earnings. The majority of jockeys are not competing for the sake of money, but rather for the enjoyment of the sport itself.
Years of Experience
In the world of horse racing, knowledge and experience are everything.
Be jockeys accumulate a large number of victories, they are referred to as winners. It’s quite improbable that an unknown rider will be selected to ride a horse in a prestigious race of any significance.
Job Growth Trend
Weight limits and the possibility of injury make this a difficult professional field to pursue. Only a small number of athletes meet the minimum size requirements, and only 12 athletes are accepted into the North American Racing Academy each year. Every year, about 2,500 people are injured while participating in horse racing, and 154 jockeys have died while riding since 1940.
The Average Salary of a Horse Jockey
Marlenka/iStock/GettyImages Jocks are essential to the world of professional horse racing, and they are only temporarily in the spotlight when they win the Triple Crown event, which takes place every year in New York. The majority of jockeys do not necessarily make a lot of money. These petite athletes are responsible for riding the horse during the race, and while the most accomplished jockeys make six-figure salaries, the majority of them earn only a few thousand dollars. One of the most important reasons is that a jockey’s success determines a large portion of his salary — those who win races with large purses earn significantly more money.
Jockeys are often employed as independent contractors by horse trainers, who hire them on a per-job basis. During a race, the amount that a jockey is compensated for riding a horse is referred to as a “mounting fee.” This cost is not always prohibitively expensive – in most situations, it is between $25 and $100. As a result, the income of a jockey is primarily decided by his or her level of achievement, making this a high-risk job with high stakes for every race.
The purse is the real source of money for jockeys who compete for it. The purse is the amount of money that a horse receives as a prize for placing first, second, or third, with the jockey receiving a portion of the money. The quantity of the purse and the percentage won by the jockey vary from race to race, although it is always a tiny portion of the total. For example, first place may receive around six percent of the total prize money, with second place receiving one percent and third place receiving half a percent.
The majority of jockeys make between $30,000 and $40,000 per year, however there are several exceptions to this rule. For example, the best 100 jockeys in the world earned an average of $5.7 million in 2004. However, because of the wide range of prize payouts, these figures are not always reliable and constant. According to the National Rider Association, the best paid jockey received $2.1 million in purse shares in 2008, while the highest earner got $22.2 million in 2004.
Expense and Requirements
Jockeying has a cost associated with it. To be able to ride, jockeys are required to furnish their own equipment, such as saddles, helmets, and boots. A percentage of their wins is paid to agents and valets, which amounts to around 30% of their total earnings. Aside from that, they must maintain tight weight restrictions in order to be eligible and competitive – most jockeys weigh between 108 and 118 pounds, on average.
Being short is also a common characteristic among jockeys, and while there are no height restrictions, having a low stature aids a jockey in maintaining his or her weight.
How do so many jockeys survive when they’re earning so little?
A startling disparity exists in the distribution of jockeys’ earnings, with the top 20% of earners accounting for 80% of total earnings. If you’re a professional jockey, life is nice. You get to ride the greatest horses in the biggest races, and you have the potential to make a not-insignificant fortune. But what about those who are on the opposite end of the spectrum? How have they fared thus far? This is the first of two pieces that will look at the subject of inequality among jockeys based in the United States, and it is written by Paul von Hippel, associate professor at the University of Texas, who investigates some critical facts.
- Eddie Arcaro, a Hall of Fame jockey, admitted in a 1957 interview with Mike Wallace that he had earned over $2.2 million throughout his 25-year career, which is the equivalent of almost $30 million today.
- “The typical rider probably makes approximately $7,500 a year, and considering how much time he spends traveling with his family, I don’t believe he makes enough money to support himself.” Today’s income disparities are at least as severe.
- This isn’t technically a secret, but it’s not something the racing industry takes great pride in, and it’s a bit difficult to figure out from publicly available information.
- The amount of prize money won by the horses under the jockey’s saddle is reported instead of the amount of money earned by the jockey himself or herself in the sport of horse racing.
- Although a simple rule of thumb states that jockeys receive 8% of the total purse, this is only accurate on average.
- To put this in context, the average purse in a 2017 race was $27,000, with 49 percent of the money going to the winning horse, 24 percent to the second-placed horse, and 12 percent to the third-placed horse.
- In the average second-place finish, the jockey received $324, while in the average third-place finish, the jockey received $162.
In Kentucky, races with purses of at least $100,000 award the fourth-place jockey a share of the fourth-place prize money equal to five percent of the total prize money. Fourth place horses get an average of nine percent of the prize, yet gamblers who make their wagers on them are out of pocket.
The elite fifteen
If a rider finishes fourth or worse in a terrible race, he or she receives a mount fee of $50 to $110, depending on the circumstances. Depending on what the Jockeys’ Guild has agreed upon with each state racing association, the sums vary from one jurisdiction to the next. Nonetheless, it would not be a significant distortion to assert that the Kentucky agreement is applicable statewide. We can get a rough estimate of the cumulative distribution of jockeys’ earnings based on this assumption. It’s a glaring disparity in wealth.
- On the other side, the top ten percent made more than $155,000, the top five percent earned more than $258,000, and the top one percent earned between $729,000 and $2.1 million, with just 15 jockeys earning more than that.
- The amount earned is represented on the horizontal axis, with the highest-paid riders earning $1 million or more represented on the vertical axis.
- The 80/20 rule governs the earnings of jockeys, with 20 percent of jockeys getting 80 percent of total earnings.
- Six percent of all jockeys make half of their total earnings.
- The proportion of revenue earned is shown by the vertical axis, while the percentage of jockeys earning it is represented by the horizontal axis.
- For comparison, the income disparity among big league baseball players, who had a Ginicoefficientof.62 (and a maximum pay of $535,000) in 2017, had a Ginicoefficientof.62 (and a maximum wage of $535,000).
- A large number of jockeys are practically minor leaguers, competing on local tracks on a regular basis.
- Nonetheless, it may be unavoidable for wealth inequality to be greater in a sport that is based on prize money — such as horse racing, tennis, or boxing — than in a sport such as baseball, where athletes are compensated by the league.
According to the Gini coefficient in 2000, the median household income was $11,901 and the 95thpercentile was $216,000 (equivalent to $312,200 in today’s values) For the year 2017, the median household income was $11,629, while the 95th percentile earned $258,307; the Gini coefficient was 0.777.
And, with the exception of inflation, it’s possible that not much has changed since Mike Wallace interviewed Eddie Arcaro in 1957.
For the sake of this analysis, the year 1944 was allocated his $2.2 million in wins because it was towards the top of his career at the time, between his two Triple Crown victories.
How Much Does a Jockey Earn per Race?
It is one of the world’s most risky vocations to make a life by riding race horses for money. It is estimated that over 90 percent of jockeys will suffer a major injury at some time throughout their careers. Given the high level of risk involved, you would expect jockeys to make a substantial sum of money. The reality is that just a small number of riders in the sport earn six-figure salaries. The vast majority of riders earn far less. Here is a summary of how jockeys are compensated, as well as how much they receive for each each race.
The Jock Mount
Every rider who takes part in a race is guaranteed to receive a certain amount of money in compensation for their efforts, regardless of whether they win or lose the race. This small payment is referred to as a jock mount, and it is one of the lowest earnings awarded to a professional athlete. Riders are paid an arbitrary amount if they do not finish first, second, or third, regardless of their position on the leaderboard. At most racing tracks this averages roughly $50. A jockey is literally risking their life and limb for less than what it costs to fill up many vehicles with gas.
This implies they must ride as many horses as possible in a day to make a reasonable income.
On average, the best jockeys win only 20 percent of the races they ride in.
How Much A Jockey Makes for A Win
Wins in races increase a jockey’s pay greatly, as does placing second or third. The winning jockey in a race is entitled to ten percent of the money, which is divided between the owner and the jockey. Consider the following scenario: a $50,000 prize is awarded for a race. The winning horse’s owner earns 60 percent of the purse money, for a total of $30,000 in prize money. The jockey then earns a share of the winner’s purse equal to 10%, or $3,000, of the total prize money. Not bad for a single race, in my opinion.
The purse for a claiming race is frequently $10,000 or less, depending on the circumstances.
If the horse they ride does not perform well, this is a better option than earning $50 in a bad situation.
Jockey Earnings for Second and Third Place
The earnings a rider earns for finishing in second and third place are also equal to ten percent of the purse money obtained by the owner of the horse. Owners of second-place finishes often earn 20 percent of the prize money. In the case of the third, the percentage is normally 10%. For second and third place results on a tiny circuit, the jockey will normally get a little bonus in addition to the standard jock mount.
As you might imagine, jockeys do everything they can to ensure that their horses finish “in the money” when they compete. An in-the-money finish is one in which the jockey receives additional compensation.
Millionaire Racing Jockeys
According to a Forbes magazine article, just a small number of jockeys earn millions of dollars each year. In 2015, the top five riders received a total of $1.3 million to $2.25 million, ranging from first to fifth place. The majority of them had to compete in far over 1,000 races throughout the year in order to reach the million-dollar milestone. And this just reflects the top five jockeys in the United States, despite the fact that there are literally hundreds of riders in the country. Aside from riding in the most prestigious races in the country, jockeys who make millions of dollars do so as well.
These races are only open to the top riders in the country, and only the best horses are provided for them to ride.
- The following is the bare minimum yearly rider compensation based on 1,000 races with no victories: $50,000
- The NFL’s minimum wage is $465,000 per year. MLB’s bare minimum wage is $507,500. The minimum NBA salary is $562,493 dollars, and the minimum NHL salary is $525,000 dollars.
This is an amazing difference between the pay of jockeys and the salaries of other sportsmen. As an example, consider the fact that athletes in the other sports mentioned are statistically less likely than jockeys to have a life-threatening injury.
The Cost of Being a Jockey
When determining how much a jockey makes, it is also necessary to take into account the expenditures that they incur. The first and most significant of these is the compensation a jockey must pay to their agent. The jockey agent is in charge of locating the horses on whom a rider will be riding in a particular race. The smallest commission a jockey’s agent can charge is 10 percent of the jockey’s total earnings. The agent will get $5,000 for every $50,000 earned by the jockey in a given year.
Some agents charge as much as 25 percent of the whole transaction.
The jockey’s valet is the next item on the list of expenditures.
This individual can earn between 5 and 10% of a jockey’s total earnings for the calendar year in this position.
Can Jockeys Make Money From Endorsements?
A distinction between jockeys and athletes in other major sports is that they are not normally permitted to have endorsements. California, for example, has lately begun to establish exceptions to this general norm. In California, jockeys can now display the emblem of a sponsor on their racing breeches and get a monetary reward for doing so. A jockey may, of course, be compensated for appearing in an advertising for a product such as a sports drink or a car, but marketing agencies do not employ jockeys for this purpose.
Can Jockeys Bet on the Races?
A common practice on many racing circuits is that jockeys are not officially barred from placing bets on races in which they are not competing. Betting on races in which they are competing is a serious infraction that might result in their suspension. Some jockeys, on the other hand, have devised strategies to get past this. The jockey can simply instruct his or her agent to place a bet on a race, but doing so is dangerous and could lead to suspicion of the jockey.
Another option is to have a friend or family place the wager on your behalf using an online horse betting service. EZ Horse Betting recommends that jockeys check out the online racebook advised by them for betting options and extra money!
How Much Does a Jockey Earn?
In the United States, the average jockey makes around $40,000 per year in earnings. That is slightly more than double what someone earning the federal minimum wage of $7.25 an hour in the United States would earn if they worked a 40-hour week all year. A jockey’s salary of $40,000 per year barely qualifies him or her for the middle class, and it is little compared to the amount of money they take home. Do you think you’d be interested in becoming a jockey if you knew how much money you’d make?
- And this is especially true when one has to ride a moving animal that weighs more than 1,000 pounds and moves at 45 kilometers per hour!
- These men and ladies of steel provide us with a great deal of fun.
- Check out our Bovada racebook review, our Twinspires review, or even our Betamerica review for more information.
- 5Dimes review for everyone in the world!
- Do Horse Racers Make a Lot of Money? Is Horse Racing a Profitable Business? During a race, a French jockey was savaged by a rival horse.
So, how much does a jockey really earn?
Isn’t it true that jockeys must be loaded? Every week, Frankie Dettori competes in races that are worth hundreds of thousands of pounds. Ryan Moore travels the world competing in the world’s most prestigious competitions. Ruby Walsh takes first place in Grade 1s just for fun. While it is true that riders may make a good livelihood at the top levels of competition, the reality for most is quite different. To put this in context, only three Flat jockeys in the United Kingdom earned as much in riding fees and prize money in 2016 as the 200th highest-earning golfer on the PGA Tour (who earned £215,000.) But how much money does the ordinary jockey make?
- What’s the long and the short of it?
- Let’s take it step by step.
- Fees for riding are the most important source of revenue for jockeys’ earnings.
- So, for example, an experienced rider with a full book of rides may expect to earn in the region of £1,000 each day.
- The jockey’s agent receives 10% of the purse, while the Professional Jockeys Association (the riders’ union) receives 3% of the prize money.
- Valets, who put in a lot of effort behind the scenes, are compensated on a sliding scale.
- Added expenses include insurance, on-course physiotherapists, and the racing bank Weatherbys, which manages the jockeys’ costs and even charges a 50p fee for each line on the jockey’s account (imagine if your bank did something similar!).
The average jump jockey receives 215 rides per year on average.
The average Flat jockey, on the other hand, gets 300 rides each year.
Prize money and sponsorship are available.
Depending on the race, this percentage is between 8.5 and nine percent of the winning prize money for leaps.
In both codes, they receive three and a half percent of the total prize money awarded to the winners.
When it comes to prize money, flat racing has a larger value than when it comes to jumping, but earnings from prize money are highly unpredictable in both disciplines, especially for riders outside the few of stars that make up the sport’s top echelon.
The next year, after suffering an injury that kept him out for much of the summer, his prize money was more than half.
Stobart, the logistics company, sponsors all riders on their posteriors, which is undoubtedly the most conspicuous part of their bodies.
Many cyclists have supplementary sponsors in addition to their main sponsors.
Naturally, the amount of money that each rider receives is determined by their public status, sports accomplishment, and the skill with which their agent negotiates.
One of the most significant expenses for a jockey is travel, with the average rider travelling 40,000 to 60,000 miles per year at a cost of upwards of £6,000 in petrol.
Taxes must also be taken into consideration, which entails hiring accountants or spending countless hours reviewing tax forms.
So, how much money do they truly make?
It is not included in the totals below any sponsorship or retainers, which are not available in the public domain, nor any money paid to non-runners (riders get 40 per cent of the riding fee if horses are withdrawn after 9am).
Ais a strong Flat rider who has a slew of major victories to his credit on the Flat.
His share of about £2 million in prize money amounted to around £100,000 (approximately).
Rider Bis is a top 20 jump jockey who rode about 500 horses in the 2016-17 season.
The final figure is £135,000 before taxes and costs.
Last season, he rode less than 200 horses, earning £22,000 in riding fees and another £20,000 in prize money as a result of his efforts.
Jockey Dis is a well-established independent Flat jockey who frequently spends his winters abroad.
Overall, £20,000 before taxes and expenditures is what you get.
In reality, when top owners’ retainers and overseas prize money are factored in, the elite will almost surely make in the seven figures.
The final group of jockeys is the apprentice or conditional jockey, who are subject to a complex system of restrictions that would require a separate page to discuss in detail.
It’s impossible to put a definite number on what jockeys make, but one thing that can be said with confidence is that, in terms of sporting compensation, they receive a fraction of what footballers, cricketers, golfers, and tennis professionals receive in their respective sports.
Michael Steele is a writer who lives in New York City.
We believe it is fair to say that every pound and euro they make is money well earned, especially when you consider the long hours, arduous travel, and physical dangers they face on a daily basis.
If you liked this post, you might be interested in reading the other pieces in our Racing Revealed series.
Horses that travel at high altitudes: How do racehorses get throughout the world?
They’ve all been beaten by a hair’s breadth, but why do so few riders sport beards? Is it true that “you never meet a poor bookmaker” is a well-known proverb? The art, regulations, and ugliness of naming racehorses are all discussed here. PUBLISHED FOR THE FIRST TIME AT 5:51 PM ON FEBRUARY 5, 2020
Here’s How Much Money the Kentucky Derby Winner Gets
Many of the businesses that appear on Money advertise with us. However, remuneration and in-depth research are the factors that influence where and how firms appear on our website. Learn more about how we generate revenue. In 2018, the Kentucky Derby will take place on Saturday, May 5, with the first race set to begin a little after 6:30 p.m. Eastern Time. You can stream the Kentucky Derby on the sport-focused serviceFubo TV, as well as on streaming services such asHulu LiveandYouTube TV, which often include NBC channels in their packages.
- ET on your localNBC station, and you can stream the Kentucky Derby on the sport-focused serviceFubo TV, as well as on streaming services such asHulu LiveandYouTube TV What really is at stake?
- It is predicted that around $200 million would be wagered legally on the big race day itself, according to the latest estimates.
- Given that the Kentucky Derby is now in its 144th year of existence, it’s particularly astounding to realize how massive—and expensive—the event has grown over the course of its history.
- Today, around 170,000 people attend the Kentucky Derby in person, while more than 16 million people watch the race on television.
- General admission tickets for today’s edition of the Kentucky Derby start at approximately $75, while some of the most expensive “Millionaires” section seats may fetch upwards of $6,000 or more.
- Similarly, the amount of money awarded to Derby winners has increased significantly over the years.
How Much Does the Kentucky Derby Winner Get?
In 1913, the winner of the Kentucky Derby was awarded $5,475. The purse had reached $100,000 by the 1950s, had climbed to $1 million by 1995, and is currently valued at roughly $2 million. The winner of the Kentucky Derby does not get the entire prize money. The prize money is divided among the top five finishers, with the winner earning around $1.24 million and the four fastest other teams receiving between $60,000 and $400,000 in cash and prize money. After the horse’s racing career is complete, its owners can earn even more money through stud fees, which continue to accrue for years after the horse’s racing career is ended.
American Pharoah earned a total of $8.7 million in prize money throughout his career, and he has since retired, he has been paid a $200,000 fee for each healthy foal he has sired. A total of more than $20 million was earned by the farm that purchased American Pharoah’s stud rights in 2016.
How Much Money Does the Jockey Get for Winning the Kentucky Derby?
Jocks receive 10% of the total prize money from races in which their horses win or place, on average. As a result, the winning jockey in the Kentucky Derby would get a gross salary of around $124,000. A jockey, on the other hand, is required to pay around 30% of his earnings to his agency and valet. Everyone is also responsible for paying taxes on this money. Even once the money is distributed, the net takeaway for Kentucky Derby winning jockey is significantly less than $100,000, with the net takeaway for the winner being closer to $50,000 than it is $100,000.
A rider might earn as low as $28 to $100 for riding in a race in which his or her horse does not win or finish in the top three positions.
Athletes, including professional jockeys such as Victor Espinoza, who rode American Pharoah to the Triple Crown in 2015, ride in many races on major race days such as the Kentucky Derby.
Espinoza earned a total of $1.68 million in gross earnings that year, but he had to compete in roughly 500 races to achieve that number.
How Much Money Is Bet on the Kentucky Derby?
On Derby Day in 1908, the audience placed a total of $67,570 in wagers, with $18,300 of that amount going into the Derby event itself. In 1984, spectators placed approximately $19 million on the Kentucky Derby, breaking the previous North American record for betting on a single horse race. According to the Kentucky Derby’s official history, considerably over $130 million has been wagered on the event each year in previous years, and the total legal gambling for all of the day’s races has surpassed $200 million in recent years.
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How Much Do Jockeys Earn?
The great majority of horse racing enthusiasts prefer to only tune in when there is a significant event taking on. It goes without saying that many find festivals such as Cheltenham, Royal Ascot, and the Grand National to be more appealing and memorable than a Tuesday afternoon meeting at Fakenham. As a result, casual viewers are accustomed to seeing helicopters or tiny private aircraft in the backdrop of television coverage, leading them to believe that people participating in the Sport of Kings are all extremely wealthy.
Some jockeys have made good money since retiring from the sport, but the majority of them are in a precarious financial condition.
Rich Jockey Poor Jockey
At the pinnacle of the sport, there is little doubt that it is financially rewarding; Frankie Dettori, for example, is a global superstar for a good reason. He rides top-class horses in the most prestigious races all over the world in front of large television audiences, and he receives a salary that is more than adequate for the work he does. There isn’t much in the way of a middle ground either. In addition to receiving a portion of the enormous prize money awarded for winning the finest races in the world, Dettori, Ryan Moore, William Buick, and the like are frequently paid retainers by a top trainer and/or a high owner.
The scenario, on the other hand, is extremely different for the great majority of racing riders.
As a result, they are relying on winners for money, which is difficult to come by considering the amount of food, beverages, and especially travel expenses they incur.
A Breakdown of a Jockey’s Earnings
Riding costs in the United Kingdom are established at £120.66 for flat riding and £164.74 for riding in the National Hunt sphere, respectively. If a rider is in good shape, has a good agent, and is riding on the flat during the height of summer when he can attend meetings in the afternoon and evening (and there are a lot of “ifs”), he or she can ride a total of ten horses for a total of £1206.60 in riding fees (and there are a lot of “ifs”). Most people think that sounds reasonable, but freelancers and other self-employed individuals who are reading this will quickly see that this is only half of the picture.
- The valet who is in charge of the equipment receives 10% of the first riding fee of each day, 7.5 percent of the second, and 5 percent of the third riding price of the day.
- Weatherbys even charges 50p for each line on a jockey’s statement that is shown!
- Most people would consider it to be a decent livelihood, but keep in mind that this is during the height of the season, IF the jockey is in good shape and well-liked by trainers, and they will not be doing this on a daily basis.
- Even when a flat jockey is working as hard as he possibly can and earning as much as he possibly can, it is still very much a seasonal job.
- Using averages, a normal flat jockey will ride 300 times each year, according to the data.
- Normal deductions will reduce this to around £27,000, which puts the jockey squarely in line with the average UK income before tax, but not any higher than that.
- As a result, the incentives that are offered are based on a proportion of the prize money that has been earned.
When it comes to leaps, the percentage is higher (8.5 percent), but the total reward money is more on the flat (more than double). Whatever portion of the prize money is awarded, the agent will receive a ten percent commission on it as well. Keeping up with the Joneses?
Winning Prize Money
People in the United Kingdom enjoy rooting for the underdog, which makes it understandable why, if you are familiar with the ins and outs of jockey earnings, they enjoy seeing tough handicaps. They are a major show, and bettors take great delight in predicting the winner of a 30-runner race. Additionally, the winning jockey may not be one of the famous names, so collecting their 6.9 percent share of a pot of perhaps £100,000 is a huge pat on the head from the horse racing community. A jockey, on the other hand, cannot rely on this in any manner.
- A jockey may win a lot of high-profile and lucrative races, resulting in a substantial amount of prize money; yet, the next year, they may only earn a fraction of that amount.
- The average jockey will spend more than £5,000 in gasoline expenditures every year simply to go to the races, which is another significant chunk of money that will be deducted from their earnings before they even consider about net earnings.
- I believe you will agree that that is not a large wage.
- Riding work is essentially the act of riding horses in their training, which allows them to receive rides from appreciative trainers in exchange for their efforts.
- The jockey is required to pay tax when everything has been tallied up, subtracted, and calculated in every way.
- More money to be spent!
- A great jump jockey may make up to £135,000 per year, yet a normal pretty popular and hardworking flat rider living in the United Kingdom can earn less than £20,000 per year before costs and tax.
How Much Does A Horse Jockey Make Per Year?
In a typical year, how much money does a horse jockey make? Horse jockeys earn a variety of wages. Horse jockeys earn wages ranging from $10,049 to $271,427 per year in the United States, with a typical pay of $48,880. Equine Jockeys earn between $48,882 and $123,036, with the top 86 percent earning $271,427 per year. Do horse jockeys earn a substantial amount of money? The best jockeys, without a doubt, perform exceptionally well. Irad Ortiz Jr. was the highest-earning jockey in the United States in 2020, having ridden more than 1,260 mounts and won over 300 races for earnings of slightly more than $21 million.
- Do jockeys receive a good wage?
- This equates to a gross yearly income of £27,150 for the couple.
- Depending on the race, this percentage is between 8.5 and nine percent of the winning prize money for leaps.
- The compensation for jockeys varies depending on their level of expertise and track record of accomplishment.
During the 2015 racing season, rookie jockeys earned as little as $28 per race on the low end and as much as $124,000 for the top prize in a major championship. The pay for jockeys who do not finish in the top five in a Triple Crown race can be as low as $500.
How Much Does A Horse Jockey Make Per Year – Related Questions
During races, jockeys do converse with one another. Flat jockey Greville Starkey used to perform a fantastic impression of barking dogs during races and would occasionally break into his routine over the final furlong to throw an opponent’s mount off the scent.
Is owning a racehorse profitable?
Racing horse owners may generate money by breeding their horses and selling the progeny. They can also win breeders’ honors. Many horses retire from racing once their racing careers are completed and are utilized for breeding purposes. Despite the fact that a successful horse might earn a lot of money racing, its true earning potential may be as a breeding stallion.
Do jockeys stunt their growth?
Certain athletes, such as jockeys, go to great efforts to slow their growth, shrinking to the size of a pre-pubescent child in some cases. In an industry where a few more pounds may be the difference between winning and losing a multi-million dollar race, jockeys are under great pressure to maintain their weight at a specific level.
Has there ever been a female jockey in the Kentucky Derby?
There has been no female trainer or jockey to win the Kentucky Derby as of 2015. Diane Crump, Patti Cooksey, Andrea Seefeldt, Julie Krone, Rosemary Homeister, and Rosie Napravnik are among the six women who have participated in the prestigious “Run for the Roses.”
How much do jockeys make if they win?
The jockey who successfully rides their horse to victory receives a ten percent share of the prize money awarded. However, they will not receive the entire $186,000 as their own. In addition to paying his agent a 25 percent commission, he pays a typical 5 percent gratuity to the valet who assists him in preparing all of his race-day gear for the race.
Do apprentice jockeys get paid?
Possibilities for Employment During their apprenticeship, apprentice jockeys are given a predetermined pay that grows incrementally each year. Apprentice jockeys’ earnings from race rides and prize money are retained in trust by Racing NSW until they become 21 years old or for a longer period of time if they so choose.
How do horse trainers get paid?
Winnings. In addition to her day fee, a trainer often receives a percentage of all of the money a horse makes in a month above and above her day rate. If a horse races and places first, second, or third, the trainer receives a 10 percent share of the purse, which is the amount of money earned by the horse as a result of the race. If a purse is worth $30,000, the trainer will receive $3,000 from it.
What is the weight limit for a jockey?
According to the Association of Racing Commissioners International, there is no one standard for jockey weight in racing, merely a guideline that a rider should not carry less than 118 pounds at all times. Fillies carried 121 pounds in the Belmont Stakes, while colts and geldings carried 126 pounds in the Belmont Stakes.
How is the prize money split in horse racing?
For example, a frequently implemented reform was to include horses finishing fifth in their prize money distribution; the method most often employed for doing so was to award 60 percent of the purse to winners, 20 percent to second, 11 percent to third, 6 percent to fourth, and 3 percent to fifth, a format that is still followed by many tracks today.
Who owns the horse Monomoy girl?
A sale of Monomoy Girl to Spendthrift Farm for $9.5 million after the completion of her 2020 racing season was completed, and MyRacehorse was granted a lease of her racing rights for the following year.
Afterwards, MyRacehorse made money by selling shares in that experience to 10,200 others early this year.
Who owns the most horses in the world?
Horses in the United States According to the Food and Agriculture Organization of the United Nations’ 2006 Global Horse Population study, the United States has by far the greatest number of horses in the world – around 9.5 million, according to the report. It displays a total of 58,372,106 horses around the world. In 1914, there were around 25 million horses on the planet.
What is the fastest horse ever?
Thoroughbred Winning Brew holds the Guinness World Record for the fastest time from the starting gate for a Thoroughbred racehorse, clocking in at 77.6 km/h (43.97 mph) over two furlongs, although Quarter Horses are capable of faster times over shorter distances than Thoroughbreds. Thoroughbred Winning Brew’s time from the starting gate is 77.6 km/h (43.97 mph).
Why do jockeys ride standing up?
Riders maintain their bodies level by standing in the stirrups; this allows their bodies to remain level and assists the horse in moving forward more quickly. Jockeys exert considerable effort to lighten the horse’s load while keeping their bodies off the saddle in order to do this.
Can jockeys ride their own horses?
They are free to place bets on horses that they own, but they are expressly barred from placing bets on horses that they do not own or from requesting someone else to place bets on their horses on their behalf.
Are there any female professional jockeys?
Hayley Turner is ranked first. Hayley Turner is the most successful professional female rider in history, having taken part in more than 860 winning rides throughout the world and earning more than £8 million in career prize money.
Is buying a racehorse a good investment?
Making a bet on a racehorse might be a dangerous proposition. Even yet, if you believe that buying a racehorse is a wise investment, reconsider. Taking this risk will almost certainly result in failure. Horses may be money pits, draining your bank account empty with fees, taxes, and vet costs, among other expenses.
Is there money in horses?
Horse exploitation is the sole means through which individuals may make money off of horses themselves. Horse racing, breeding, various types of competition, and horse slaughter are just a few examples. Horses are, for the most part, a pricey pastime and source of fascination. For those who have a genuine passion for horses, the price is definitely worth it.
Do horse owners pay tax on winnings?
All winnings are completely tax-free. Capital gains earned by non-residents are not subject to taxation. Horses that have been owned for more than 12 months are eligible for a 50 percent CGT reduction at the time of sale. If the horse, or a portion in the horse, costs $10,000 or less, there is no need to report the sale as a capital gain.
How do jockeys get selected?
In horse racing, jockeys are hired on a race-by-race basis, such as Triple Crown winner Victor Espinoza, seen above. To choose a jockey, you must first chat with their representative about their qualifications. His strategy is to place his rider on the best horse in each race. Because jockeys’ salary is dependent on a sliding scale, their primary source of income is from winning races.
Has a female horse ever won the Kentucky Derby?
Female horses, known as fillies, have competed in and won the Kentucky Derby in the past, however none have attempted to do so since the current points system was implemented.
Regret (1915), Genuine Risk (1980), and Winning Colors (1988) were three of the 40 ladies that competed in the Derby, and all three were winners.
How much money does a jockey get for winning the Kentucky Derby?
At the Kentucky Derby, a winning rider will get 10% of the horse’s prize, which amounts to $186,000 in this year’s Derby for John Velazquez, who won the race (although this could change depending on the current investigation). According to Career Trend, that’s a significant payout in a sport where an average year’s earnings may range between $30,000 and $40,000.