Are you curious about how much a jockey makes in the horse racing industry? After all, it is not only about winning races and collecting trophies – jockeys have to make a living too!
We often see a lot of money in circulation in the horse racing industry, which is why most people assume that jockeys actually make a lot of money.
However, the jockey’s salary widely depends on many different factors, such as their level of expertise, races they attend, and history of wins.
So, let’s dive in deeper and find out how much Kentucky Derby jockeys earn and how they actually get their money.
Understanding the Basic Salary Structure of a Jockey
At its core, a jockey’s salary is based on a percentage of the purse – the total amount of money awarded to the top finishers in a race.
On average, jockeys earn 10% of the purse for a winning ride, with smaller percentages awarded for lower-placing finishes. However, the exact percentage can vary depending on the track, the race, and the jockey’s level of experience.
Some jockeys may even earn a fixed rate per race. This means that regardless of the prize purse and the result from the race, jockeys will walk away home with some money. However, most professional jockeys agree to be a percent of the price purse which is fair enough for both the horse owner and jockey.
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The Average Salary of a Jockey
So, what does all of this mean in terms of an annual salary? The average jockey’s salary in the United States is around $30,000 per year, with top jockeys earning much more. Some high-level jockeys might earn a few million per year!
While some top jockeys can earn six-figure salaries, most jockeys make a modest living and rely on additional sources of income to make ends meet.
However, keep in mind that this salary is not a steady paycheck – jockeys only earn money when they win races, so their income can fluctuate widely from month to month. This means that if they are absent from the horse racing scene, they have zero income.
Factors That Can Affect a Jockey’s Salary
Before you get all excited and start to chase a career as a professional jockey, here are some of the factors that can determine the jockey’s salary.
Experience
Obviously, more experienced jockeys and jockeys that have already participated in big events or have some exceptional wins in the past are paid more. This is just any other job in the world. The more experience you have, the bigger the salary will be.
Quality of Rides
Remember, not all jockeys participate in Grade 1 big racing events like the Kentucky Derby. In fact, the majority of jockeys will never get to see the action of big events like these.
In other words, the salary of a jockey depends on their consistency. If they win more races, they will climb the ladder of success and participate in more prestigious events.
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Location
Last but not least, the location plays an important factor in determining a jockey’s salary.
Basically, in places where horse racing is quite popular like the United States, Australia, and the United Kingdom, jockeys tend to earn more just because there are many high-grade events with big prize purses.
Additional Earnings Opportunities for Jockeys
Some jockeys don’t just rely on their riding skills to bring home the extra cash. They also dabble in other areas of the horse racing industry, like training, horse wrangling, or even getting in front of the camera as a broadcaster.
Additionally, some well-known jockeys might earn from sponsorship deals and promotions.
Final Words
Even though some of the elite jockeys in the industry earn a lot of money, the truth is that the majority of these high-risk athletes don’t earn as much.
So, if you still want to become a jockey, make sure to do a lot of research since being a jockey requires a lot of hard work, dedication, and strong will.