When Did Horse Racing Stop Being Allowed to Be a Hobby?
There’s something about horse racing that seems to trigger a very different public reaction than almost any other horse sport.
If a racehorse isn’t winning, the immediate response is often:
“Why are they still running?”
“They’re not making money.”
“You should retire them.”
But here’s the question we genuinely struggle with:
Why is racing the only equestrian sport where the public assumes the horse must be profitable in order to justify participation?
Horses Have Value Beyond Earnings
Across every other horse discipline, participation is rarely framed around profit.
A dressage horse may compete for years without winning a major title.
A jumper might spend an entire season off the podium.
A reining horse may never earn back its purchase price.
A backyard pasture pet will never earn a dollar.
And yet — no one suggests those horses should retire simply because they’re not “producing income.”
The standard question is usually:
Did you enjoy the show?
Is the horse healthy?
Are they sound and thriving?
If the answer is yes, the hobby continues.
Why is racing treated differently?
Most People in Racing Are Not Turning a Profit
There is a persistent myth that racehorse owners are in it for financial gain.
The reality is very different.
Most owners lose money.
We are currently over $73,000 invested in Paycasso and Caesar before they even left the farm for training. That isn’t a business margin. That’s a passion investment.
The presence of purse money and wagering does not automatically turn every owner into a profit-maximizer. For most small owners, the economics look far more like any other equestrian hobby — substantial expense, uncertain return, and participation driven by enjoyment rather than income.
Just like:
Buying a high-level dressage horse
Campaigning a show jumper
Owning and boarding a pleasure horse
Maintaining performance dogs
Collecting and enjoying fine wine
Hobbies cost money.
No one tells a wine enthusiast to stop because their bottles aren’t generating revenue.
No one tells a dog owner to retire their Labrador because it hasn’t won Best in Show.
So why does a racehorse have to justify its existence through earnings?
Racing Supports an Entire Ecosystem
Even if an owner never turns a profit, racing supports:
Trainers
Grooms
Exercise riders
Jockeys
Veterinarians
Farriers
Feed suppliers
Transport companies
Track employees
The same is true in dressage, jumping, reining, and other disciplines.
Participation — even when it isn’t profitable — sustains livelihoods.
The owner may be pursuing a hobby.
But that hobby fuels a professional ecosystem.
It’s Not About “Run Them Forever”
Let’s be clear about something important:
If a horse is consistently overwhelmed, unsound, or mentally struggling — responsible owners stop.
If a horse is coming in last every race and showing signs of being discouraged or physically declining, that matters.
Continuing to race a horse is not about squeezing out earnings. It’s about whether the horse remains sound, willing, and mentally engaged — the same standard applied in every other equestrian discipline.
But not winning is not the same thing as not thriving.
Many horses:
Enjoy the structure of training
Thrive in the track environment
Remain sound and mentally engaged
Improve with time and maturity
Plenty of upper-level dressage horses live in stalls most of the day, travel frequently, compete well into their teens or twenties, and no one questions it — as long as they are sound and well cared for.
Longevity in sport, when managed responsibly, is not exploitation. It is stewardship.
Why does racing not receive the same nuance?
The Age Conversation
Age is another place where racing is often treated differently.
When a horse begins racing at two, many people argue that it’s too early.
When a horse continues racing at ten, some argue that it’s too late.
And yet, we celebrate 18-year-old horses competing at the Olympics in dressage or show jumping.
So which is it?
Across all equestrian sports, horses develop, mature, peak, and age differently depending on their individual bodies, management, and workload.
The question shouldn’t simply be age.
It should be:
Is the horse physically prepared for the job?
Is the workload appropriate?
Is there veterinary oversight?
Is the horse mentally willing and thriving?
A number on a registration paper does not automatically determine welfare.
Management does.
Two is not automatically too young if the training is progressive and the horse is developmentally ready.
Ten is not automatically too old if the horse remains sound, enthusiastic, and properly supported.
We don’t celebrate an 18-year-old Olympic horse simply because it is 18.
We celebrate it because it is healthy enough to still perform.
The same standard should apply everywhere.
Sport, Business, and Everything In Between
Horse racing can be a business.
There are operations built around scale, strategy, and long-term financial planning — just as there are in breeding, dressage, show jumping, and other disciplines.
But that isn’t the only model.
For many small owners, racing looks far more like participation than investment.
The day-to-day reality is simple:
It’s participation.
It’s experience.
It’s passion.
For some, there may be moments of financial upside. For many, there are not.
And that’s true across nearly every equestrian discipline.
We don’t ride competitively. Racing is one of the ways we engage with the horses we love during this chapter of their lives.
We enjoy:
Visiting the barn
Talking with our trainer
Watching our horses train
Cheering from the rail
Planning their lifetime futures
That experience has value — even if the purse money never covers the bills.
Responsible participation isn’t defined by whether a horse earns.
It’s defined by whether the horse is thriving — and whether there is a thoughtful plan for every stage of their life.
The Double Standard
Here’s the frustration:
If a dressage horse competes for years without earning prize money, no one assumes the owner has “no purpose” for the horse.
If a racehorse runs without winning, people assume it must immediately retire.
Why?
If the horse is:
Sound
Mentally engaged
Properly cared for
Financially supported
Backed by a retirement plan
What is the ethical difference?
We are not chasing profit.
We are participating in a sport.
A Hobby Is Still a Hobby — Even at the Racetrack
Horse racing can absolutely be a business.
But for many of us, it is simply a hobby — one that:
Costs money
Supports an industry
Requires responsibility
Demands long-term planning
And brings genuine joy
The presence of purse money and wagering may shape public perception, but they do not define the motivations of most small owners.
The presence of purse money doesn’t automatically turn it into a profit machine.
Most of the time, it doesn’t.
And that’s okay.
Because value isn’t measured only in earnings.
Sometimes it’s measured in experience, connection, and stewardship.
If we truly care about horses, the question isn’t whether they’re earning money.
It’s whether they’re healthy.
Whether they’re willing.
Whether they’re being thoughtfully cared for — today and long after their competitive days are over.
For many of us, racing isn’t a business model.
It’s simply the sport we love.
And loving a sport doesn’t require a profit margin.
