Horse breeding, racing draw investors’ interest

Arzu Kurum – ISTANBUL

The horse breeding sector, which attracts more and more interest every year both in Türkiye and worldwide, is gaining attention due to its economic potential as well as its social and cultural values.

The sector, which supports the protection and development of local horse breeds and the preservation of cultural heritage, is characterized by investment, trade and tourism.

It is estimated that 50,000 people are directly employed in the sector and there has been a significant increase in the number of horse racing events in recent years. A total of 766 races are planned for 2024 in the sector overseen by the Jockey Club of Türkiye (TJK) for thoroughbred and domestic horses. Hippodromes, especially in major cities such as Istanbul, Ankara and İzmir, are important meeting points for racing fans, while the annual turnover of horse racing is estimated at around 50-60 billion liras.

According to industry representatives, the sector has the potential to develop rapidly in Türkiye with online betting and new investments.

The total number of registered horses in Türkiye is over 10,000, with around 8,000 registered thoroughbred horses. Around 4,000 new foals are born and brought to the racetracks every year and the number of registered horse owners is more than 5,000.

There are also imports of racehorses, of which between 200 and 250 are imported each year, mainly from the United Kingdom, Ireland and the United States.

On the other hand, the annual maintenance and all expenses of a horse currently vary between 40,000 to 60,000 liras on average.

The value of a horse varies greatly depending on its pedigree. The offspring of famous and champion racehorses usually have very high values. The success of a horse's racing career also has a direct effect on its value. On the other hand, horses that place first in prize-winning races can be sold at high prices for future use as breeding stock. The market value of such horses can reach millions of liras.

Horse owners earn income from the prize money won in the races in which their horses participate. The prizes won in races vary according to the prestige of the race the horse is running in. For example, the Gazi Derby, the country’s biggest race, paid out 13,500,000 liras in prize money this year.

Stallions with a successful racing career are used for breeding. This fee, called the stud fee, is determined according to the stallion's pedigree and performance. Female horses can also be used as brood mares.

According to Ersin Erdem, general manager of Hipodrom.com, the reasons for the growing interest in horse racing and the equestrian industry in Türkiye are the increase in online betting, the wider reach of horse racing events and the increased awareness of equestrianism through social media platforms.