How much are Kentucky Derby jockeys paid? Purse percentage for riders of winning horse, runners-up | Sporting News (2024)
If horses could talk then we'd probably never hear from the jockeys. Instead, the jockey serves as the spokesperson for the horse, almost as if they were a celebrity that didn't want to deal with the paparazzi.
We see those riders atop the horses constantly throughout the day. After all, how else would they fill time in a five-hour pre-race show?
With huge crowds of people and plenty of bets being placed, there is tons of money being exchanged at the Kentucky Derby. But once the race concludes –– about two minutes after it starts –– the attention is turned to the celebrating owner. We know how much money they make, but what about the jockey who guides the horse to victory?
The Kentucky Derby total purse is worth $3 million and while the horse gets all the glory, the owners get the payday.
Lost in the fold, though, is the jockey. The normally jubilant person atop that winning horse doesn’t make as much as you’d probably think.
According to TwinSpires, the owner of the champion horse at the Kentucky Derby receives about $1.86 million, with about 10 percent of that going to the jockey.
However, it doesn’t stop there. Of that $186,000 payout, the jockey then typically tips around 25 percent to their agent and 5 percent to the valet who helped prepared their gear. Of course, taxes are also taken out, leaving the jockey with a nice amount of money for two minutes of racing, but far less than we’ve come to expect in comparison to other sports.
Payouts for other jockeys are even less though, with second and third place receiving a 5 percent share of the winnings. The second place owner wins $600,000 and third place receives $300,000.
According to a CNBC article in 2010, most of the remaining jockeys might take home a few hundred dollars for their work on that Saturday afternoon in May.
Turns out, being a jockey doesn't tend to inflate your bank account balance. Even if you win.
As someone deeply entrenched in the equestrian world, especially in the context of racing and the dynamics between jockeys, horses, and owners, I can assure you that the Kentucky Derby is a pivotal event in horse racing. Let's delve into the concepts highlighted in the article:
1. Jockeys and Their Compensation: The article sheds light on the disparity between the massive winnings for owners and the relatively modest earnings of jockeys. The purse for the Kentucky Derby totals $3 million, with the victorious horse gaining substantial recognition, yet it's the owner who reaps the lion's share of financial rewards. Jockeys typically receive around 10% of the owner's winnings, resulting in a substantial payout. However, a significant portion of this is disbursed among their agent and valet, and taxes further diminish their earnings.
2. Prize Distribution: The breakdown of earnings for winners, runners-up, and those securing third place elucidates the distribution of the prize money. The first-place owner claims approximately $1.86 million, wherein the jockey receives around 10%, with subsequent percentages allocated to the agent, valet, and taxes.
3. Jockey Earnings Disparity: The piece addresses the substantial earnings gap between the top-tier jockeys who win and those finishing second or third. While the first-place jockey receives a notable sum, subsequent positions receive significantly lower percentages of the winnings, which can affect their overall earnings. Furthermore, the majority of participating jockeys might only earn a few hundred dollars for their efforts during the Kentucky Derby, highlighting the income disparity among participants.
4. Financial Realities: The article underscores the misconception surrounding the substantial earnings of jockeys, emphasizing that even winning doesn’t necessarily equate to financial abundance in this profession. Despite the fame associated with riding a winning horse, the monetary gain for most jockeys is relatively modest, sometimes amounting to just a few hundred dollars for their participation.
The portrayal of the Kentucky Derby's financial dynamics, particularly regarding jockeys' compensation, sheds light on the stark reality faced by these athletes. It reveals the skewed distribution of wealth within the realm of horse racing, despite the glamorous façade that often accompanies the sport.
While a total of $1.86 million is awarded to the connections of the winning Kentucky Derby horse, the jockey aboard the champion Thoroughbred takes a 10% cut of the payout, or $186,000.
Generally, they receive mount fees and a percentage of the purse or overall winnings of a race. For example, if a purse is $3,000, a jockey usually gets 10 percent, or $300 if his or her horse wins the race.
The jockey that successfully crosses the finish line first in the Run for the Roses will obtain 10% of the winner's purse. Thus, a $1.86 million payout to the winning horse equates to a $186,000 share for the rider.
The winner will receive $3.1 million. The purse is a $2 million increase from 2023. Churchill Downs also announced its 2024 Spring Meet schedule, which will feature a record 50 races worth $25.6 million.
How much prizemoney jockeys win is decided by a very complicated Rule of Racing and varies from race type to race type and is dependent on how many places are being paid. However, as a general rule of thumb Flat jockeys receive around 8.5% of the advertised win prize and 2.61% of the advertised place prize.
Finishers receive a percentage of the purse, with 60% going to the winner, 20% to the runner-up, 10% to third place, 5% to fourth, 3% to fifth, and 2% to sixth.
1. Yutaka Take. Taking the top spot is Japan's Yutaka Take, who has earned an estimated $925m throughout his extensive career, picking up nearly 4,500 wins in the process. With a record like that, Take is certainly the hottest ticket in town.
So how is the winning purse money split? Typically, the owner of the winning horse receives 80% of the purse, while the trainer and jockey earn 10% apiece. This means the owner of a Kentucky Derby winner picks up $1.488 million before taxes, while the trainer earns $186,000 before taxes.
The Derby has a $25,000 entry fee and an additional $25,000 for the starting fee, according to The Downey Profile. That doesn't include the cost of nomination fees for the Triple Crown races.
Both numbers were records. Mage paid $32.42 to win on a $2 bet. Total wagering on all Kentucky Derby Week races broke $400 million for the first time, reaching $412 million from all sources, per Churchill Downs.
UPDATE: Here are the 2023 Kentucky Derby payouts on a $2 bet: Mage: $32.42 to win, $14.58 to place, $9.08 to show. Two Phil's: $10.44 to place, $6.52 to show. Angel of Empire: $4.70 to show.
The purse for the 2023 Kentucky Derby was $3 million - the highest purse in the Triple Crown races - with the remaining purse shared among the rest of the top-five finishers. Horses that place second and third earn $600,000 and $300,000 respectively, while the fourth and fifth horses will receive $150,000 and $90,000.
Like many professional athletes, the salary for jockeys can vary widely depending on the class and level of the races they compete in and how often they race. Jockeys are usually paid a mount fee which is a sum of money for each horse they race and a percentage of the prize money if they place first, second or third.
Instead of reporting what a jockey earns, racing reports how much prize money has been won by the horses under the jockey's saddle. Jockeys get just a small fraction of that prize money. A simple rule of thumb is that jockeys get eight percent[2], but that's only true on average.
In general, trainers receive a percentage of the purse, which can range from 5% to 20% depending on their agreement with the owner. Some trainers may receive a flat fee, while others may receive a percentage of the purse plus a bonus for winning a major race.
Typically, the first-placed horse will get around 60% to 70% of the total purse while the second-placed horse will receive a percentage of the purse money that goes between 15% and 20%. The rest of the purse money will be split among the remaining horses, according to their finishing position.
While the pay can be lucrative – agents generally get 25 percent of their jockey's earnings and many represent multiple riders – the daily routine often starts before the sun comes up and does not end until after the final race.
Introduction: My name is Errol Quitzon, I am a fair, cute, fancy, clean, attractive, sparkling, kind person who loves writing and wants to share my knowledge and understanding with you.
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