Racehorse owners see reality bite

For most owners racing is about the romance not the returns

British racehorse owners in 2003 recovered in prize money just 28% of what they spent on upkeep and training fees, the Racing Post has reported.

The sobering figures for would-be high-rollers ranked Britain 37th worldwide in terms of the percentage return on costs for owners.

Among international racing centres, only the UAE and Hong Kong proved profitable, on average, for owners.

Best of all was Argentina where owners reaped a 246% return on costs.

HOW THE OWNERS FARED 1. Argentina 246% 2. UAE 228% 3. Bahrain 190% 4. S Korea 189% 5. Turkey 152% 6. Hong Kong 140% 19. Japan 69% 21. France 53% 23. US 51% 32. Ireland 32% 37. Britain 28% Ranking is based on % of costs recovered in prize money, 2003 Source: Racing Post

The figures, compiled by the Racing Post from details submitted to the International Federation of Horseracing Authorities, lend statistical weight to what is a regular gripe of owners of horses racing in the UK.

But they also show that the situation, which several years ago led some big owners to threaten to take their horses elsewhere, is improving.

The 28% return on costs for 2003 compares with a 21% return in 2000.

"One of our formal aims is to significantly improve this percentage," the Post quoted British Horseracing Board chief executive Greg Nichols as saying.

Over the same period, returns fell for owners in France, Japan and the US.

Average prize money per Flat race in 2003 was highest in Hong Kong at £69,605, followed by the UAE (£41,029) and Japan (£22,228).

Britain was 10th by this measure with average prize money of £12,940 per race.