Approximately from $2,500 to $3,000 per month.

My daily rate includes training, grooming, feeding, bedding, vitamins, tack, and worker's compensation insurance for stable employees, exercise riders and hot walkers.

Veterinarian, horseshoeing, transportation, jockey insurance and parade to post.

If purchasing an unraced horse, the registration papers that were given to you when purchasing the horse are turned into the race office when your horse comes to the race track. You will then need to go the the California Horse Racing Board office and apply for a owners license, which will be reviewed. Once approved, you are an owner.

If you choose to claim a horse, rather than purchase, you will need to go the CHRB, fill out an application for open claim, pay a small fee, deposit funds at the racetrack, designate a trainer and claim your horse. Once you claim a horse, you instantly become a licensed owner.

Claim at the racetrack or purchase privately or at a horse sale.

Claiming is a type of race in which each horse in the race is for sale for a claiming price. The claim must be submitted 16 minutes before post and once the starting gate is opened, the horse is yours unless there is more than one claim submitted for the same horse. In that case, a blind draw is taken.

Access to the barn area, season passes to all racetracks, free parking, tax benefits, and best of all the excitement of watching your horse run.

Each track is different, but approximately 60% goes to the winner, 20% second, 12% third, 6% fourth, 2% fifth.

The trainer gets 10% of the earnings of 1st, 2nd and 3rd and the Jockey gets 10% of 1st, 5% of 2nd and 3rd and approximately $130 for the losing mount.

The money is automatically deposited into each owner's account at the racetrack (just like a bank, but no interest). You may withdraw the money at any time.

Discuss with your trainer and choose a jockey. The jockey's mount is deducted from your account at the racetrack.

Jockey silks are basically a shirt that the jockey wears to represent the owner of the horse. Most owners have their own jockey silks custom made with their colors and design.