no the purse is determinded on the race when you bet you get some money fromo the purse if the horse u bet on wins
Actually, the Purse has nothing to do with the amount of money wagered in a horse race. The Handle is the total amount wagered on that race and after the track takes some out and the taxes are removed then the rest is divied up among the winning tickets. These are called Pools and there is one for each style/type of bet (Win Pool, Place Pool, Show Pool, Exacta Pool, Trifecta Pool, Pick 3 Pool, etc).
A horse races for purse money only under certain conditions where allowing betting would be unfair to the betting public. The most common reason is when one horse of an entry is scratched after betting opens for that race. In many racing jurisdictions, the other horse is allowed to run, but for purse money only. All money bet on the entry is refunded.
The purse
The largest horse racing purse in the US is the $5,000,000 offered at the Breeders' Cup Classic.
The biggest purse in Horse racing is 6 million dollars in the Dubi World Cup. In North America it is the Breeders Cup Classic with a purse of 5 million dollars.
You don't set the purse. As the prestige for the competition increases, the purse amount increases.
The purse is the amount of official money, it is shared out between all the participants.
The 'purse' in horse racing is the cash prize won by the owner. The racing purse is usually paid to the first five finishers; 50% is paid to the winner, 25% for place, 12% for third, 8% for fourth, and 5% for fifth.
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Purse
In the Kentucky Derby, the owner of the winning horse receives about 65% of the total purse. In 2010 the total purse was $2,185,200, which means the owner of Super Saver won $1,425,200. From those winnings the owner pays a percentage to the jockey and the trainer, usually around 10% of his share of the purse.