Owners play a significant role in the funding model of the racing industry. They provide much of the capital outlay and day-to-day funding for the preparation of racehorses.
In 2016/17 there were more than 85,400 individuals with an ownership interest in a thoroughbred racehorse. These owners competed for just over $600 million in prizemoney throughout the year.
Research over a number of years has shown that many owners do not consider their involvement to be a financial investment from which they expect a net positive return. This is not to say however, that owners are prepared to continue to fund their involvement if there are diminished opportunities to realise a return.
In 2016/17, thoroughbred owners spent more than $1,150 million nationally on the preparation of their racehorses for racing. More than 70% of this training activity occurs in regional areas of the nation.
This spending funded the preparation of more than 38,000 horses in training across the nation – prepared by nearly 3,800 thoroughbred trainers.
Essentially, owners incur costs on the preparation of their racehorses in the following areas:
+ veterinarian, worming and supplements
+ travel and transport
+ training fee
+ gear and equipment