How much money do horse trainers and owners make?

According to the British Horseracing Authority (BHA), there are approximately 600 licensed racehorse trainers and approximately 14,000 registered racehorse owners in Britain. All trainers are engaged in running a business – albeit, often, an uncertain business – for profit, but, with the exception of a few major ownership and breeding operations, such as Coolmore and Godolphin, owners typically consider horse racing a leisure pursuit, from which they expect little or no return.

Trainers receive between approximately 6% and approximately 10% of the prize-money their horses earn, which, in the upper echelon of the profession, can amount to eye-watering sums. In 2024, for example, horses trained by Aidan O’Brien, who is private trainer to John Magnier and his Coolmore associates, amassed in excess of £8.34 million in win and place prize-money for connections. Of course, every training business is different, in terms of facilities, numbers, staff, fixed and variable costs, so how much money trainers make varies widely.

By necessity, horse racing must offer sufficient prize-money to entice owners to buy horses, in the first place, and to keep them in training. However, while leading owners, such as Godolphin or John P. McManus, may regularly collect hundreds of thousands or millions of pounds in a season they, and any other owners, can realistically expect to pay £20,000 or more to keep a horse in training. Training fees, veterinary fees and racing expenses soon mount up, so most racehorses are, in fact, a losing investment.