How much prize money does the jockey get for winning the Melbourne Cup? Jockeys are entitled to 5% of the prize money earned and will usually also receive a small amount for booking the ride. That was $220,000 in 2022. The winning jockey is entitled to 5% of the prize money earned.
Prize Money
The percentages a jockey receives for a thoroughbred race range from 5% for a second- or third-place finish to 10% for first place, according to the Covington Reporter.
The 2022 Melbourne Cup is worth a total of $8 million, and is the richest handicap horse race in the world. The winner of the Cup gets $4.4m of that pool, as well as the coveted Cup itself which is said to be worth an extra $250,000 in gold.
RIDING PAYMENTS
Racing Queensland makes payment of riding fees to jockeys on behalf of owners: As of July 1, 2022, the jockey race riding fee is $230 plus GST per ride. The superannuation component attributable to the jockey race riding fee is 10.5%. Effective July 1, 2022, the barrier trial riding fee is $78 plus GST.
Let's break it down. Unlike most athletes jockeys are almost all self-employed (although a few top riders have contracts to ride for individual trainers or owners) – which means that rather than being paid a fixed salary, they charge for each job they take.
After the weights have been allocated, each horse owner must pay a series of entry and acceptance fees, including a $600 initial entry fee, $960 first acceptance, $1,450 second acceptance, $2,450 third acceptance, and $45,375 final acceptance on the Saturday prior to the big race.
WHAT IS THE PRIZE MONEY FOR THE MELBOURNE CUP? The prizemoney for the Melbourne Cup is $8 million, and there has been no indication of that changing for 2022. The winner receives $4.4 million.
Jockeys are some of the original “gig workers” because they work as independent contractors. Rather than earn a salary, a jockey receives a “mounting fee” (often $50-$110) for each race, riding sometimes eight races per day.
The purse money for a horse race comes from different places, such as gambling, entry fees, and sponsorships. Typically, the amount of money bet at a track is used to determine the racing purses for a season. The winnings from a horse race are usually split between the owner 80%, the trainer 10%, and the jockey 10%.
In New South Wales, the jockey riding fee is AUD$175 (excluding 10 percent Goods and Services Tax, or GST) per ride, and if you're good, as Bowman is, the prize-money bonuses are extravagant.
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. Jump Jockeys receive around 11.03% of the win prize and 3.44% of the place prize. The riding fee is negotiated annually between the PJA and the ROA.
In most states, jockeys are not prohibited from betting on races in which they don't ride or on betting on their own mounts. Nonetheless, a jockey betting against himself, no matter how few times it happened, is a serious offense that brings the integrity of those races into question.
The word "jockey" originated from England and was used to describe the individual who rode horses in racing. They must be light, typically around a weight of 100-120 lb., and physically fit.
On average, horse jockeys in America make $52,737 a year. Their salary is based on the class level of the race they are competing in, how many races they compete in, and what place they take in the race. A jockey can earn anywhere from just $28 to $184,000 or more per race.
Prize money is distributed to the connections of each horse in the ratio of 85 percent to the owner, 10 percent to the trainer and 5 percent to the jockey.
The Everest – $14million
Boasting a whopping jackpot of $14 million, The Everest is the richest race in Australia and the richest turf race in the world.
1. How much prizemoney do I receive? You'll receive your pro rata share of the nett prize money won by the horse less a 5% success fee if applicable to the particular horse. Nett prize money is Gross prize money less the percentage for the trainer (10%) and the jockey (5%) which is Australian Standard rates.
The rules set a limit of five whip strikes prior to the final stage of a race, but there is no limit on the number of times a horse can be struck with the whip during the last 100 metres of a race.
Which jockey has the most Melbourne Cup wins? Bobby Lewis (1902, 1915, 1919, 1927) and Harry White (1974, 1975, 1978, 1979) are tied for the most Melbourne Cup wins as a jockey with four wins apiece.
One way to do this is to take your bank to win (Horse A), link it with three others (BCD) for second and third, and then take a total of 18 runners in the field for third. This combination will cost $51.
The salaries of Horse Jockeys in the US range from $10,049 to $271,427 , with a median salary of $48,880 . The middle 57% of Horse Jockeys makes between $48,882 and $123,036, with the top 86% making $271,427.