How much does a racehorse cost?

Tricky question, as the answer, is both “a lot” and “not very much.”

There are many ways to acquire a racehorse: You can buy one at a public auction, through a private arrangement with its owner, or even by breeding your own runner. You can also buy fractional shares in a horse through numerous racing partnerships that have blossomed in recent years, sometimes by investing as little as $100.

One thing to keep in mind if you decide to try ownership: Spending more does not guarantee success.

The best-known example of this is The Green Monkey, which sold for a world record $16 million in a 2-year-olds in training sale. Unfortunately for his owners, the Coolmore Stud connections of Michael Tabor, Susan Magnier and Derrick Smith, the colt only raced three times and managed a single third-place finish before retiring with earnings of $10.440. Read also about the money you need to start betting on horse racing.