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Originally Posted by Storm Cadet
At this rate Rags to Riches will have a match race in the Alabama if she runs there....if nobody wants to run in the Goose and pick up easy purse money...who would want to run vs RTR? Bad for racing 
And I wonder how much of a hit NYRA takes with the purse payout?
If the Nomination fee is only $250.00 and only a handful actually paid the $2500 to pass the entry box and start...where does NYRA get the $$$ to pay out $250,000. $10,000 in entry fees and they have to shell out $250,00 in purse?
Same with the Suburban...$400 to nominate and another small field which paid the $4,000 to start. The 4th place horse gets 5% and will get $20,000. The 5th place horse will get 3% and $12,000. I should have entered 6 year old Diligent Gambler and told the jockey to get 4th or 5th place if he could and triple my money! NYRA gets a little over $24,000 in entry fees and shells out $400,00.
No wonder they lose millions! And in this case it's not NYRA's fault. |
The money all comes from the purse account. The amount for stakes races is negotiated by the track and the horsemans organization. That is why you see races like the Pimlico Special being cancelled. The horseman cry foul if a few big dollar stakes cause there to be a deficit in the purse account. The track is not actually putting up any of the money. And when you see a race is 'guaranteed', it another way of saying "the track is going to keep all the entry and nomination fees". When you see 'added', the track puts the money in the purse which actually makes the race worth more. The year I won the West Point Hdcp the purse was $100k added. The final purse was close to $120k. Obviously it is better for the horseman when you are running not only for the purse but to get your own money back.