The Grand National is one of the world’s most famous horse races, attracting millions of spectators each year. It is the most lucrative jumps race in the United Kingdom, offering a total prize fund of over £1 million. But what are the payouts? This article will look at the Grand National payouts and examine how they are determined.
What is the Grand National?
The Grand National is a National Hunt horse race held annually at Aintree Racecourse, near Liverpool, England. It is the most important National Hunt race in the UK and is watched by millions of people each year. The race is open to horses aged five years or older and covers a distance of four miles, five furlongs and 10 yards. The race is renowned for its difficult fences, and the horses must jump 30 of them during the race.
What are the Grand National Payouts?
The total prize fund for the Grand National is over £1 million, with the winner taking home a hefty share of the pot. As of 2021, the winner of the Grand National will receive £500,000 with second place receiving £200,000, third place receiving £150,000, fourth place receiving £100,000 and fifth place receiving £75,000.
How are the Grand National Payouts Determined?
The payouts for the Grand National are determined by the British Horseracing Authority (BHA). The BHA sets the payout rate for each race and the total prize fund for the Grand National is divided up amongst the top five finishers.
Who Gets the Payouts?
The payouts for the Grand National are split between the horse’s owner, trainer and jockey. The owner of the winning horse will receive 60% of the prize money, the trainer will receive 20% and the jockey will receive the remaining 20%.
What Are the Other Prizes?
In addition to the prize money, the winner of the Grand National will receive a trophy, which is usually presented to the winning jockey. The trophy is a solid silver replica of a racehorse and jockey, mounted on a black marble base.
How Do I Claim My Payouts?
If you are the owner, trainer or jockey of a horse that has finished in the top five of the Grand National, you must contact the BHA to claim your share of the prize money. You will need to provide proof of ownership, training and/or jockeying status, as well as a valid bank account in order to receive the payout.
What Happens to Unclaimed Payouts?
If the prize money is not claimed within six months of the race, the BHA will donate the money to charity.
What Are the Tax Implications?
The prize money is subject to UK taxation, so it is important to declare any winnings to the relevant authorities.
Conclusion
The Grand National is one of the most famous and lucrative horse races in the world, offering a total prize fund of over £1 million. The payouts are determined by the British Horseracing Authority and are split between the horse’s owner, trainer and jockey. It is important to remember that the prize money is subject to UK taxation, so it is important to declare any winnings to the relevant authorities.