Purse distribution
Encyclopedia
In horse racing
, the term purse distribution may refer to the total amount of money paid out to the owners of horses racing at a particular track over a given period of time, or to the percentages of a race's total purse that are awarded to each of the highest finishers. This article focuses on the latter definition.
Prior to the 1970s, only the owners of the first four finishers in a thoroughbred
horse race in the United States
typically received any money at all; most commonly, 65% of the race's purse was awarded to the winner, with the second, third and fourth horses earning 20%, 10% and 5% respectively. This procedure had some drawbacks, especially in the event of inclement weather — owners would often seek to "scratch," or withdraw their horses from a race, if the track was wet, and even more so if rain forced a scheduled turf, or grass race, to be moved to the main, or dirt, track. It was largely in an effort to encourage larger fields in these circumstances that many American
state racing associations began changing their purse-distribution formats during the last three decades of the 20th Century.
One frequently-implemented reform was to include horses finishing fifth in the purse distribution; the method most often employed for doing this was to award 60% of the purse to the winner, 20% to second, 11% to third, 6% to fourth and 3% to fifth, a format still observed by many tracks today. Some tracks even went so far as to include the sixth-place runner in the purse as well; most often, this resulted in 60% being given to the winner, 20% to second, 10% to third, 5% to fourth, 3% to fifth and 2% to sixth.
In 1975, the state of Florida
enacted a purse-distribution format that has had revolutionary implications for the sport of horse racing in the United States
: Its adopted plan provided 1% of the purse to all finishers in the race lower than fourth; this meant that the percentages paid out to the horses finishing second, third and fourth (but not first) became variable, depending upon the size of the field. For example, if a race had twelve starters, 60% of the purse went to the winner, 18% to second, 10% to third, 4% to fourth and 1% each to fifth through twelfth; with only six starters the winner received the same 60%, but 20% went to second, 13% to third, 5% to fourth and 1% each to fifth and sixth. This system is still in use at all of the state's thoroughbred tracks today, although a slight modification in the actual percentages (resulting in the second-place share being increased at the expense of the third and/or fourth) was made in 2005.
The popularity of Florida's new format among horse owners led to calls for it or something similar to be adopted in other states as well, and as the 20th Century neared its end many states had indeed followed Florida's example, although the specific percentages varied somewhat from one state to the next. New York State long resisted this trend, although in 1971 that state had reduced the winner's share from 65% to 60%, awarding 22% to second, 12% to third and 6% to fourth. Finally, in December 1994 the New York Racing Association included horses finishing fifth in its purse awards for the first time (changing to the 60-20-11-6-3 format referred to above) and in December 2003 expanded its purse awards to all finishers, allocating the same 60% to the winner, but 20% to second, 10% to third, 5% to fourth, 3% to fifth and the remaining 2% to be divided equally among the other finishers.
In some racing jurisdictions, a "starter's bonus" is paid to horses not among the top finishers in a race; this bonus is added to the stated value of the purse, and therefore nothing needs to be subtracted from the top shares to provide it. California
uses this approach, paying a starter's bonus of $400 to each horse placed worse than fifth at its Los Angeles
-area tracks and $300 at the tracks located in the northern part of the state.
Of the 32 American states that conducted thoroughbred racing in 2004, purse money was paid to all horses in 11 of them, while 16 did not do so (with 11 of these paying only the first five finishers), and in the remaining five states some of the state's racetracks awarded money to every horse and others did not. Only one racetrack in Canada
— Fort Erie Race Track
in Ontario
— included the entire field in its purse-distribution format in 2004 (all other Canadian thoroughbred tracks paid only the first five horses in that year except Assiniboia Downs in Manitoba
, where the top six finishers cashed).
Starting in 2005 the Kentucky Derby
included the fifth-place finisher in its purse distribution; prior to that year only the first four finishers in the Derby received purse money.
Horse racing
Horse racing is an equestrian sport that has a long history. Archaeological records indicate that horse racing occurred in ancient Babylon, Syria, and Egypt. Both chariot and mounted horse racing were events in the ancient Greek Olympics by 648 BC...
, the term purse distribution may refer to the total amount of money paid out to the owners of horses racing at a particular track over a given period of time, or to the percentages of a race's total purse that are awarded to each of the highest finishers. This article focuses on the latter definition.
Prior to the 1970s, only the owners of the first four finishers in a thoroughbred
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word thoroughbred is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed...
horse race in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
typically received any money at all; most commonly, 65% of the race's purse was awarded to the winner, with the second, third and fourth horses earning 20%, 10% and 5% respectively. This procedure had some drawbacks, especially in the event of inclement weather — owners would often seek to "scratch," or withdraw their horses from a race, if the track was wet, and even more so if rain forced a scheduled turf, or grass race, to be moved to the main, or dirt, track. It was largely in an effort to encourage larger fields in these circumstances that many American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
state racing associations began changing their purse-distribution formats during the last three decades of the 20th Century.
One frequently-implemented reform was to include horses finishing fifth in the purse distribution; the method most often employed for doing this was to award 60% of the purse to the winner, 20% to second, 11% to third, 6% to fourth and 3% to fifth, a format still observed by many tracks today. Some tracks even went so far as to include the sixth-place runner in the purse as well; most often, this resulted in 60% being given to the winner, 20% to second, 10% to third, 5% to fourth, 3% to fifth and 2% to sixth.
In 1975, the state of Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
enacted a purse-distribution format that has had revolutionary implications for the sport of horse racing in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
: Its adopted plan provided 1% of the purse to all finishers in the race lower than fourth; this meant that the percentages paid out to the horses finishing second, third and fourth (but not first) became variable, depending upon the size of the field. For example, if a race had twelve starters, 60% of the purse went to the winner, 18% to second, 10% to third, 4% to fourth and 1% each to fifth through twelfth; with only six starters the winner received the same 60%, but 20% went to second, 13% to third, 5% to fourth and 1% each to fifth and sixth. This system is still in use at all of the state's thoroughbred tracks today, although a slight modification in the actual percentages (resulting in the second-place share being increased at the expense of the third and/or fourth) was made in 2005.
The popularity of Florida's new format among horse owners led to calls for it or something similar to be adopted in other states as well, and as the 20th Century neared its end many states had indeed followed Florida's example, although the specific percentages varied somewhat from one state to the next. New York State long resisted this trend, although in 1971 that state had reduced the winner's share from 65% to 60%, awarding 22% to second, 12% to third and 6% to fourth. Finally, in December 1994 the New York Racing Association included horses finishing fifth in its purse awards for the first time (changing to the 60-20-11-6-3 format referred to above) and in December 2003 expanded its purse awards to all finishers, allocating the same 60% to the winner, but 20% to second, 10% to third, 5% to fourth, 3% to fifth and the remaining 2% to be divided equally among the other finishers.
In some racing jurisdictions, a "starter's bonus" is paid to horses not among the top finishers in a race; this bonus is added to the stated value of the purse, and therefore nothing needs to be subtracted from the top shares to provide it. California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
uses this approach, paying a starter's bonus of $400 to each horse placed worse than fifth at its Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
-area tracks and $300 at the tracks located in the northern part of the state.
Of the 32 American states that conducted thoroughbred racing in 2004, purse money was paid to all horses in 11 of them, while 16 did not do so (with 11 of these paying only the first five finishers), and in the remaining five states some of the state's racetracks awarded money to every horse and others did not. Only one racetrack in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
— Fort Erie Race Track
Fort Erie Race Track
Fort Erie Race Track is a horse racing facility in Fort Erie, Ontario, Canada built by the Fort Erie Jockey Club and inaugurated on June 16, 1897....
in Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
— included the entire field in its purse-distribution format in 2004 (all other Canadian thoroughbred tracks paid only the first five horses in that year except Assiniboia Downs in Manitoba
Manitoba
Manitoba is a Canadian prairie province with an area of . The province has over 110,000 lakes and has a largely continental climate because of its flat topography. Agriculture, mostly concentrated in the fertile southern and western parts of the province, is vital to the province's economy; other...
, where the top six finishers cashed).
Starting in 2005 the Kentucky Derby
Kentucky Derby
The Kentucky Derby is a Grade I stakes race for three-year-old Thoroughbred horses, held annually in Louisville, Kentucky, United States on the first Saturday in May, capping the two-week-long Kentucky Derby Festival. The race is one and a quarter mile at Churchill Downs. Colts and geldings carry...
included the fifth-place finisher in its purse distribution; prior to that year only the first four finishers in the Derby received purse money.