HORSE racing is a traditional sport that pools origins from Central Asia, and it has always been considered as the sport of kings. Nowadays, it accumulates a huge fan base, and horse racing festivals are one of the most widely attended spectator events. This sport enjoys great popularity in the UK and Ireland, while gambling on horse racing is legal throughout all continents. In case you want to dip your toe in horse racing bets and try your luck, you could head over to one of the best betting sites for Ireland out there created by bestcasinosites.net experts and analysts.
Equestrianism is not only the art of horse riding, but it became a large industry as well. According to Horse Racing Ireland’s 2020 budget, the amount of €68 million is going to be allocated to the prize money funds. The Dubai Duty Free Irish Derby, which is the most prestigious festival in Ireland set total prize money of €2,25 million in 2020, with the tendency of increase in the years to come. If you ever wondered why some horses are so expensive, we are going to bring this topic closer and answer some of the crucial questions.
How a horse is valued
Horse valuation is not a straightforward process and it depends on several variables. Every horse is a unique individual, and with specific characteristics, but market factors also have a big impact on the valuation. Therefore, an assessment from a qualified appraiser should represent an objective value of a horse.
Racehorses are usually considered as the most expensive ones on the market, due to the thousands, even millions in prize money. However, a hidden gem that can boost up horse’s value is the ability to breed winners. The highest impact on how much a horse can bring at a private sale or an auction is its pedigree. Careers are one of the ways of checking the genetic potential of a horse which can eventually bring an added value. Stallions, male horses of breeding age, are the most valuable ones on the market, however, it doesn’t mean that they will be sold. Their estimated values can go above €100 million, but they are usually kept by the stables that breed them.
What you should know before buying a horse?
Buying a horse is very easy, however, they are very difficult to sell. A racehorse is not the same as dressage or show jumping horse, so you should look at several traits if you want to have a successful one.
We have already mentioned that pedigree plays a significant role, and this is what you should check first. A sire that has produced lots of stakes winners is appealing, but the Dam’s side of the breeding is important as well. Has she produced a lot of winners? If she has, then it is a massive plus.
Physical characteristics are worth paying attention to. Bone structure can indicate of a horse is prone to injuries, while its muscle tone shows a racehorse power. A well-proportioned horse with a gleaming shiny coat is the one you need to look out for. Manners shouldn’t be underestimated since a calm and relaxed horse can maintain a high level of focus during a race.
A buyer should be aware that the initial price is just one part of the ownership cost. Housing, feeding, and training are the expenses that follow every racehorse, in addition to regular veterinarian checks and race entry fees.
Buying a racehorse is not a shortcut to getting rich. It is more likely that the investment in a racehorse won’t pay off. It is an expensive hobby and if you are not in love with these animals and this sport – you will probably fail. However, long shots occasionally pay off, and if your horse enters a winning streak, you may get millions in prize money.
The most expensive horses of the decade
Galileo is the world’s most expensive horse at this time. This Irish thoroughbred is estimated at €180 million mostly due to the prolific nature of his offspring which has more than 300 winning horses. He sired 31 stake winners in the UK and Ireland gathering more than €10 million in prize money in 2016 and 2017 only.
The second on the world’s most expensive horses list is an English thoroughbred Frankel. It is a true stallion with an estimated value of around €165 million.
Tapit is an American horse coming from the state of Kentucky and it is valued between €100 and €140 million. This is a horse well-known of its strong genetics as not only that its father Pulpit was famous, but its sires have successful careers. The income figures generated by this horse go as high as €35 million per year.
Dubawi is Darley’s flagship stallion and it sits on the top of the TRC Global Sires Rankings for 2020. Finally, Deep Impact is Japan’s most expensive sire and the second-placed horse on the TRC Global Sires Rankings for the current year.