A reduction in live races in California along with nationwide increases in employee compensation costs have resulted in a funding bottleneck for the equestrian compensation program for jockeys and backstretch workers operated by the Post Time Self Insurance Group, according to the Thoroughbred Owners of California.
Golden Gate Fields Race suspension in November due to a COVID-19 outbreak, mostly among background workers.
As a result, Post Time has found it necessary to increase by approximately 10% the amounts payable by the owners and coaches who fund the majority of the program costs through the coach stall fees and the owners’ entry fees for races per start. . The owner’s entry fee will be increased from $ 149 to $ 162 effective January 1. The entry fee will continue to be automatically deducted from the owner’s paymaster account each time a horse is started.
To offset increased worker pay hikes per start and provide additional financial support to California owners, TOC earlier this year approved an increase in guaranteed wallets from $ 351 to $ 500 per start in Southern California and from $ 300 to $ 450 in Northern California.
Purses with guaranteed participation are paid to owners of horses who participate in all races where their horses do not finish first to fifth. They are designed to help owners cover the core costs of their horses’ participation in the races, such as the CHRB-prescribed fee for the veterinary examination. Horses finishing sixth and beyond (and finishing fifth if their share of the purse is less than their guaranteed entry purse) will receive $ 500 to start in Southern California and $ 450 to start in Northern California.
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