AboutStephanie Frost Expertise Questions about Thoroughbred training, racing and breeding. Rules and regulations regarding Thoroughbred racing. Mainly focused on racing in the USA. I can also answer breeding and bloodstock questions, along with pedigree advice, plus advice about forming a realistic plan for starting into the racing or breeding business. No handicapping questions, please.
Experience I have been a licensed Thoroughbred trainer for 20 years, a thoroughbred farm owner and Thoroughbred breeder. Owner of Alchemy Bloodstock, a full service bloodstock agency, specializing in locating quality racing and breeding stock for clients, and representing clients at various Thoroughbred sales. Alchemy Bloodstock has been instrumental in the purchase and training of several graded stakes horses, as well as many extremely profitable sales horses.
Question How is the "purse" of a race funded? I believe the purse used to be a stakes fee that each owner paid to enter the race, but these days the amounts are much larger. Do race tracks or other organizations sponsor these high purses?
Thank you! I have learned a lot from your many well-written answers!
Answer Lary,
Thanks for the kind words!
Here in the USA, purses are mainly funded by track revenue, which includes simulcasting revenues, and also slot/casino type revenue, if the track has such. The track negotiates with the horseman's guild at each track to decide what percentage of the revenue will be set aside towards purses. Then the Racing Secretary divides up the money into the purse amounts for each type of race. (maiden races, claiming races, allowance, etc.) The only exception to this are stakes races, which usually add each entrant's entry fees to the purse as well.
This is why you will often see purse amounts change after a portion of the race meet has been run. If the track is not getting the revenue that they expected, ad based their initial calculations on, they will have to reduce purses for the remainder of the meet. If they are making more money than they thought, then purses will increase.
