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Money Talks

When all of the costs have been tallied at the end of the year, keeping a racehorse in training can cost $40,000 to upwards of $75,000 a year or more.

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By: Alex Campbell |

The thrill of thoroughbred ownership is an experience unlike any other, and racing fans looking to take the plunge will likely have investigated the cost of acquiring their first horse. But what about the expenses incurred on top of the initial purchase price? Even before acquiring their first horse, an owner will have to apply for their owners’ license. In Ontario, new owners are charged $20 as a new applicant fee, along with $100 for their individual owners license. If involved in a partnership, it costs an additional $200 to register the stable name, and each owner in the partnership that has a five per cent stake or more in the horse must also be individually licensed. Other provinces follow a similar structure, but the costs are much less. An individual ownership license in Alberta is $50, and just $30 for three years in British Columbia, while the annual fee is…

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