I would like to chide you very gently for the claim you make in one of your inserts as to what the owners might ‘bank’ for winning one of the CTS Million Dollar races, writes Garrick Bergh in the Sporting Post mailbag.
Had you rather referred to the ‘gross stake’ that would be earned, then I would have been less inclined to nitpick.
But as any slightly shell-shocked owner of a big race winner will tell you – the initial amount deducted at source from a stakes cheque is never likely to be less than about 16%.
After that you will find that your trainer’s account contains any number of win related additional charges – ranging potentially from a sheep for the entire groom complement to an additional % from the trainer himself for winning a graded race.
Whilst waiting at the gate are further unpleasant surprises from (inevitably) the vet and thereafter SARS.
In recent years I have found it prudent (and optimistic!) to expect a retention of no more than 40% of the gross advertised stake after the feeding chain has been taken care of.
In doing so I totally ignore the historical ‘cost mountain’ already created during the time when no stakes were earned.
So let’s be clear on the facts. It’s an almost guaranteed loss making venture motivated by – hopefully – a love of the sport.
Claims of ‘big money’ almost always only lure expectant and uninformed newcomers into the sport and set them up for disillusionment.
Nobody will be ‘banking’ anything close to what you indicate! That’s ‘fake’ marketing.
Ed – We quote gross stakes in our reporting. The races referred to by Mr Bergh are also subject to fluctuations in the rand / dollar exchange rate. The winning breeder also gets a cut. Our enquiries indicate that deductions on the advertised stake in the Cape generally are as follows: Trainer – 7% Jockey -10% Groom – 1%.
