Why Stake Your Horse?
Last year, owners of Standardbred horses had the opportunity to race for
$29 million in stakes money distributed by the Hambletonian Society.
Of all the different types of harness races, added money events (generally
referred to as stakes) bear the richest purses and attract the best horses.
Purses for stakes are comprised of payments put up by horse owners and breeders
as well as money added by a sponsor; the latter funds provided by a sponsor
are often referred to as the Added Money. The race sponsor can be the owner
of the race, usually the association conducting the race meeting, a state-bred
organization or hosting racetracks where another sponsor, such as the Hambletonian
Society, owns the races. The payments by the horse owner, referred
to as “staking,” may consist of one or more fees for nomination,
sustaining or declaration. A declaration fee is sometimes called an
entry fee or a starting fee, whether the horse starts or not.
Stakes racing also represents the highest rate of return for an owner, but
because the owner has a significant investment (or stake) in the race, it
is important to consider all facets of staking before proceeding. There are
various stake race opportunities for the standard 12 divisions of age, gender
and gait for harness horses, with the most money offered to three-year-old
trotters and pacers.
After the nomination, stakes races require periodic sustaining payments,
usually one annually in the case of a stakes, or monthly or bi-monthly in
an early-closer, until the time of the race. At that time, a fee is required
to declare (or enter) to start in the race. All Hambletonian Society sustaining
payments are due on the 15th of the month and must be postmarked by midnight
the following day in accordance with U.S. Trotting Association rules. Starting
fees are due at the time of declaration, but not payable until immediately
before the race.
Staking payments are usually non-refundable, so it is important to look at
the total investment needed to race a horse before you begin staking it.
If a payment is missed, your horse becomes ineligible and may not have a
chance to get back into the race. Some races allow a supplement if you miss
a payment or change your mind about a race, but that is a very expensive
option. Supplemental nominations can be due months ahead of the race.
Supplemental declarations are due just days ahead of the race; in some cases
a supplemental may also incur further fees, (like the starting fee) or race
for only part of the purse amount. This is one of the reasons it is important
to check the “conditions” of a race carefully.
The term “stake” also specifically refers to a type of added
money event, as defined by the U.S. Trotting Association and the various
state/provincial racing commission, which closes (i.e. requires
a nomination, or initial payment) in a year prior to the race. There are
also early-closing and late-closing races, which close with nominations in
the year of the race. Early-Closers have closing dates which require nominations
to be made at least six weeks preceding the race, usually February 15. Late-Closers
require nomination less than six weeks before the race. The Hambletonian
Society services both stakes and early closers (E/Cs); it does not handle
any late-closers. For purposes of this book and these conditions and as they
affect the horse owner, all may be generally referred to as stakes.
Included in this document, in addition to the conditions of the races, are
a number of tables that provide a 2008 schedule of races and payment dates
by age and gait. Additionally there are 2007 summaries on added money,
as well as the payment amounts and starting fees as a percentage of the maximum
a horse could earn in a stake based on last year’s purses and format.
This is the “Total Winner’s Share” (TWS), which is 50%
of a single division, or 50% of an elimination race and the final purse.
It is the Society’s intention that by providing these stats and other
facts (such as the winning horse and time of last year’s race) it will
help owners and their trainers make an informed selection in their staking.
Payment Forms for 2008 are available at www.hambletonian.org or
by contacting the Hambletonian Society at (609) 371-2211.
We wish you good racing and hope to see you in the winner’s circle.
