The Preakness (G1) is one of the richest horse races in North America. In 2024, the purse climbed to a record $2 million, where it remains for the 150th Preakness in 2025.

However, the Preakness isn’t a winner-takes-all race—the purse is split among many participants. Have you ever wondered how much prize money the winning Preakness owner and trainer receive? We have the answers.

How the Preakness Stakes purse is paid out

The maximum number of horses allowed to participate in the Preakness is 14. The top five finishers each receive a piece of the purse. The breakdown is as follows:

How much prize money will the winning Preakness Stakes owner earn in 2025?

Exactly how much prize money the winning Preakness owner takes home depends on a few factors.

In a typical arrangement, the owner earns 80% of the winning purse ($960,000 in 2025), with the remaining 20% split equally between the winning trainer and winning jockey.

However, participating in the Preakness comes with a financial cost. The owner must pay $15,000 to enter and $15,000 to start a horse in the Preakness. This is on top of a Triple Crown nomination fee, which costs $600 at the earliest deadline. These expenses reduce the profitable portion of the prize money down to $929,400 before taxes.

In addition, it should be noted that some Preakness horses are owned by partnerships involving two or more people, stables, groups, etc. Depending on the specifics of the partnership and what percentage of the horse each entity owns, the purse may be split among multiple winning owners.

For example, the 2023 Preakness winner National Treasure campaigned for an extensive partnership comprised of SF Racing, Starlight Racing, Madaket Stables, Robert E. Masterson, Stonestreet Stables, Jay A. Schoenfarber, Waves Edge Capital, and Catherine Donovan.

In addition to prize money, the winning owner receives a replica of the Woodlawn Vase, the historic 30-pound, sterling silver Preakness trophy that dates back to 1860.

How much prize money will the winning Preakness Stakes trainer earn in 2025?

Usually, 10% of the first-place purse is awarded to the trainer of the Preakness winner. In 2025, this amounts to $120,000 before taxes.

The Preakness purse has come a long way through the years. The inaugural edition in 1873 carried a purse of $2,050, with $1,850 going to the winner and $200 to the runner-up.

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