It costs roughly $35,000 per year to keep a racehorse in training, assuming that the horse is stabled year round at the track. That is with an ordinary trainer, not one of the stars of the game. This $35K covers the trainer's day rate of $70-$80 a day, plus ordinary recurring expenses such as shoes, teeth floating, some transportation, and preventive veterinary services. It would not cover extraordinary expenses such as treatment for a serious illness or injury. You can reduce this number by keeping the horse at home and doing your own training (yes, people do this) or by turning the horse out for part of the year at your place or at a boarding farm. You can also partner with others to share expenses. Of course, any winnings will help offset your expenses, but winnings are not guaranteed.
Race horses can be acquired in several different ways. One way is to purchase a horse at an auction. There are auctions for yearlings, 2-year-olds, horses of racing age, and "horses of all ages" that usually include weanlings. Prices range from a few hundred dollars to multi-millions depending on the horse's conformation, pedigree, veterinary assessment, accomplishments, and accomplishments of its near relatives. The younger the horse is the cheaper it will be, comparatively. This is because you, as the owner, are incurring more risk, including the risk that the horse will never start a race.
One can also purchase a horse privately. You can find racers and racing prospects on the web, listed on racing forums, or by word of mouth.
If you purchase a horse via auction or privately, look for a horse that can take advantage of incentives offered by states in which you plan to race. Incentives may exist for horses foaled in your state and/or sired by a stallion that stands in that state. Many tracks have nice races that are restricted to (for example) state breds.
A common way to acquire a horse is by claiming one. Claiming races constitute the vast majority of races in the U.S. In a claiming race, each horse is for sale at a set claiming price. The higher the price, the classier the horse, generally. So for example, every horse entered in a $5000 claiming race can be purchased for $5000. This is done by entering a claim prior to the race. If you are the only claimant, then the horse becomes your property the moment it leaves the starting gate (any winnings go to the previous owner.) A lottery determines the new owner in the event of multiple claims on the same horse. The advantage to claiming a horse is that you know you are getting a race horse. Plus, you probably won't even need to move the horse to a different track if your new trainer is also at the track. The disadvantage to claiming is that you won't be getting an elite horse that way. Most claimers stay claimers, or at best they move into allowance or low-level stakes company. There aren't many Lava Mans out there.
No matter how you acquire your horse, get the help of a trainer, bloodstock agent, or other knowledgeable person who can help you avoid problems and get the best value for your dollar.
Miscellaneous expenses include such things as racing silks, licenses, insurance, registration fees, consultants' fees, etc. Also, you should plan to set aside some funds to ensure that your horse has a safe retirement or transition to a new career, after it is done racing.
News 
Market Data 
Discover 
