Once registered as an owner with Horse Racing Ireland (HRI) you will have access to a personal HRI customer account to manage your daily racing activity such as entries and prize money distribution. The HRI customer account system is called RÁS.
Owners have access to the RÁS online system that acts much in the same way as a personal online banking system does. Owners can view all transactions processed through their account, search historical records or print off statements etc. Owners can manage and view all transactions on https://admin.hri-ras.ie
For more information on the RAS system contact Client Accounts on +353 (0)45 455444.
Below are some general charges or fees owners can expect to pay as their time as an owner. Some of these will be processed through their Horse Racing Ireland Owners' Account.
At the time of registration with Horse Racing Ireland, a minimum lodgement of €500 (€1,000 for clubs & companies) is required to keep a working balance in the account.
This initial lodgement covers your registration fee and leaves funds in your account to cover the cost of your first run. A full list of the Registration and Annual fees can be viewed here
Entry and declaration fees vary depending on the race type, but a general guide to the cost of running in a race is:
|0.8% of total race value
|0.2% of total race value
|€12.50 per race
|#Jockey Fee Per Race
|€175 Flat Ride/€200 National Hunt Ride
**Higher charges apply for pattern, group and listed races.
#Subject to VAT 13.5% if the jockey is VAT registered
The minimum total prize fund for any race in Ireland is €10,000. The prize fund increases depending on the type of race. Prize money is allocated to connections up to 6th place. On average 70% of owners win prize money in Ireland.
A detailed breakdown of prize money allocation and deductions charged can be found on the RAS website. Please see an example of the prize money allocation below.
*Owner Industry deductions include race entry fee and contributions to IHRB, Stable Staff and Jockey Emergency Fund. A full breakdown can be found on the owners RAS account.
** Jockey deductions vary depending on agent, valet fees, VAT etc.
Prize money is lodged directly into the owner's Horse Racing Ireland Account. To allow for routine testing, these funds are only available for withdrawal seventeen days from the winning race-day.
To withdraw these funds, each owner must have registered their personal banking details with Horse Racing Ireland. This registration requires submitting a header of their bank statement that clearly displays their name, IBAN and account number.