Why do millionaires choose to spend their millions on horses?

Did you know equestrianism is said to be one of the top 10 most expensive hobbies in the world? While horses are beautiful animals, you’ll be amazed to find out how expensive taking up this hobby can be. From the exorbitant cost of equipment, advanced lessons, entry fees and transportation costs; taking up this hobby comes with massive ongoing costs. The horses themselves also often come with hefty price tags - with some horses even selling for millions. Why do millionaires choose to spend their money on horses though?

Did you know equestrianism is said to be one of the top 10 most expensive hobbies in the world? While horses are beautiful animals, you’ll be amazed to find out how expensive taking up this hobby can be. From the exorbitant cost of equipment, advanced lessons, entry fees and transportation costs; taking up this hobby comes with massive ongoing costs. The horses themselves also often come with hefty price tags - with some horses even selling for millions. Why do millionaires choose to spend their money on horses though?

Why do millionaires choose to spend their millions on horses?

A wealthy man’s sport

There is a certain glitz and glamour that accompanies horse-racing events across the globe, which may be part of what attracts the wealthy to this sport. The beauty and thrill of betting on the winning horse certainly adds to the fun. Yearly events like the Kentucky Derby held at the Churchill Downs track in Kentucky, United States of America is known to be a fabulous way for the wealthy to show off a bit and be seen mingling with the right crowd. The event attracts socialites, celebrities, millionaires and even royalty having welcomed the likes of Queen Elizabeth II in the 2007 event.

Top prize money on offer

There are massive amounts of money waiting to be won through horse racing. With the rise of popularity and interest in horse racing amongst new millionaires new events are popping up across the globe. The Saudi Cup, for example, offers up a magnificent US $20 million in what’s called a prize purse (or prize fund) to the lucky winner of the event.

According to Racing Post: “The winner [...] will earn a $10 million prize, but many of the beaten horses could still take home the largest earnings of their careers. Second-place will be worth $3.5 million and there is $2 million for third, $1.5 million for fourth; $1 million for fifth and $600,000 for sixth. Payments will go down to the tenth-place finisher, who will bank $200,000.”

This means prizes are divied up, much like they are in lottery prize tiers where winners win based on the amount of number matches they get in a draw. If that’s not enough, if you like to bet on the outcome of events, you can also win massive amounts of money through betting, if you back the right horse and jockey.

A live investment

Why do millionaires choose to spend their millions on horses?

Buying the right horse can be a real investment that offers some serious returns. Some horses are extremely valuable - even when they aren’t racing anymore. Millionaires like to invest their money into things that will make them more money over time. More often than not, winning racehorses will be sold to breed instead of race. Whether it’s better to buy a stud or mare is a matter of personal preference though.

Stud breeders are able to charge a stud fee for each mare they get their stud to breed with. These stud fees range from between US $7,500 up to US $100,000.

Mares, however, can sell for lavish sums. In 2017 a mare, named Marsha, was sold for about US $7.5 million and is known to be the most expensive horse sold at a European auction. Mares can only have foals once a year, but a thoroughbred foal with a winning lineage can be worth a lot of money, while the right stud can mate 100 to 200 times a year.

You now know why some millionaires choose to spend their millions on horses. Now tell us if you’ll be investing in horses in the future in the comments below.

P.S Don’t forget to get your lottery entry today to make your equestrian dreams come true.



This post was written by
Jason L - who has written 3050 articles
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