The salary of jockeys is the subject of many misconceptions, and the information that is frequently spread is completely false. A jockey’s life to may look like a roller coaster of spectacular parties, labor-intensive work, and unrelenting daily drudgery. Although there may be huge benefits for those getting the plaudits in the winners’ enclosure following the major races, how do the funds stack up in the end and how much do jockeys make?
Here at Mr Betting, our racing experts crack down on the costs of being a professional jockey – from huge prizes to some making no money at all. You can also check our list with the best horse racing betting sites.
Firstly, a Jockey’s Personal Expenses
It’s important to note that what may look like a few seconds to a few minutes race is actually just the tip of the iceberg compared to what jockeys go through. A jockey leads an extremely hectic life. Most riders spend their early mornings at training while getting to and from the races takes a significant amount of time. They never spend as much time riding a horse as they do in their cars.
Astonishingly, the busiest jockeys can travel over 70,000 miles a year, for which they pay for themselves out of the prize money they win. In an attempt to cut down on their personal expenses, many riders try to share lifts; yet, their expenditures have undoubtedly gone up as a result of the recent spike in fuel prices. There will be tax and expenses for accountants and administrators as jockeys are self-employed. Naturally, the tax man calls once all of the bills have been covered. It’s for sure not the life of a professional football player.
Deduction Percentages on Jockey Earnings
A jockey’s riding fee actually covers quite a lot of people’s salaries. About ten per cent goes to the agent to schedule rides, and 3% goes to the Professional Jockeys Association (PJA) to become a member of the jockeys’ union. A portion is also taken by the valet, who looks after and cleans every piece of gear required for racing, including breeches, helmets, and boots. On that particular day, they receive 10 percent of the first ride, 7.5 per cent from the second, and 5% from the third. Insurance, the trainers or owners of the horses, physiotherapists, and a Weatherbys bank account that oversees horse racing funds are also paid.
A Jockey’s Sponsorship
Approximately 50% of full-time professional jockeys receive sponsorships of some sort. Since these are private matters, the PJA is not privy to those sums, but many of them are for less than £5,000 yearly. The top jockeys may demand a lot more.
Bookmakers who provide horse racing betting have the option to sponsor jockeys, however, the British Horseracing Authority (BHA) rigorously monitors these sponsorship deals to ensure that no integrity concerns arise. The majority of apprentice jockeys don’t receive sponsorship until they either ride out or almost ride out their 95 wins.
The public is not usually informed about the sum of money sponsors pay jockeys, though. It’s only reasonable to believe that prominent jockeys like Townend, Frankie Dettori, and Ryan Moore fetch far higher sponsorship than their less well-known counterparts in the weighing room.
Jockeys’ Percentage Of Prize Money
Jockeys also receive a percentage of the winnings that the horses they ride earn. This might mean big money for the most valuable races. Winning the Grand National or a major Flat race, for example, may make a jockey lower in the championship tables much more money.
It’s a sophisticated calculation that changes based on the kind of race for the riders’ prizemoney percentages. Depending on how many spots are awarded in certain races, there are variations as well. Flat jockeys usually get 2.51% of the place winning prize-money and 8.5% of the advertised win prizemoney. In general, jump jockeys get paid 3.44 percent of the place prize money and 11.03 percent of the win fund.
How Much Do Jockeys Get Paid Per Ride?
In the UK, many jockeys who go down the professional route will get £127.14 per ride as of 2020; jump jockeys will make £173.59. The fact that jumpers receive a higher payout for each ride may seem unfair, but jumps races typically last longer than flat races. Because jumpers have a larger rate of fallers over fences and hurdles, they also merit a little extra due to their increased risk of injury.
Although the highest-paid jockeys also make a lot of money, typical flat jockeys receive around £27,000 from about 300 rides a year, and average jumpers can expect to earn about £26,000 from 210 rides every season.
How Much Do Apprentice Jockeys Make?
It would be easy for normal folk to think that even young jockeys earn hundreds of thousands of pounds, but it would require a whole essay to detail the many unique regulations that apply to apprentices or conditional jockeys, but in general, their pay is expected to be less than £15,000. They earn less than professional jockeys.
At 7lb, 5lb, and 3lb, apprentices (Flat) receive 80% of their fee; at 7lb and 5 pounds, they receive 80% of the prize money, which increases to 90% at 3 pounds. All fees and reward money are paid in full to conditionals (jumps) during the course of their claim.
How Much Do Retained Jockeys Get Paid?
Nowadays, few jockeys can obtain retainers, but some owners and trainers still have agreements in place that guarantee them first dibs on a jockey’s services. There’s little doubt that during his career, Ryan Moore and Frankie Dettori received retainers. Jim Crowley, a rider for Hamdan Al Maktoum, may now have the highest-profile retainer. What is unknown, though, is the value of Crowley’s retainer.
How Much Can I Make From Horse Racing?
The majority of us who are passionate about horse racing will never have the opportunity to work as jockeys, trainers, or owners, but by becoming professional bettors and tipsters, fans may also profit from the sport.
The labor, talent, and commitment required to become a great jockey are all the same as those needed to become a professional gambler. Fortunately, by using the advice of seasoned horse racing tipsters, you may steer clear of all the effort and still make money from your wagers on horse races.
Make sure to follow your favourite tipsters and betting guides to ensure that you can early well ans gamble responsibly on horse racing to be able to enjoy this sport to the max.
A Final Word on How Much Jockeys Make
Riders at the top might make hundreds of thousands of pounds a year. The wealthiest individuals may eventually push their incomes into the seven figures when retainers for top owners and overseas prize money are taken into account. The typical jockey makes around £30,000 once taxes and expenditures are taken into account; earnings quickly decline beyond those few. That is not at all a fortune for a profession that is that hard, year-round, with few breaks, a significant risk of injury, and a great deal of hours spent traveling across the nation in a car.
While it’s hard to pinpoint exactly how much jockeys make, one thing that is known for sure is that, in the world of sports, jockeys seldom make nearly as much as football, cricket, golf, or tennis players. In light of their demanding work schedules, exhausting travel, and bodily risks, we believe it’s reasonable to conclude that every pound and euro they get is money well earned.
