The Power of the Purse: good news for Gulfstream Park and Florida-bred horses
FBIF incentivizes owners and trainers to run Florida breds in Florida
I refer to Gulfstream Park as my “my Hallandale Beach office” given how productively I do my “day job” (investment writer/researcher/coach) from there. And as you will see in upcoming posts here, the similarities between Wall Street and the sport and business of horse racing are many. In fact, I suspect I’ll post something here sooner rather than later, discussing horse racing using primarily terms people use when talking about investing. More on that soon.
As reported by Thoroughbred Daily News last month, my home town track, Gulfstream Park, recently announced that they were boosting the amount the make available as prize money (“purse”) for most races. The pay raise took effect yesterday.
Different states use different methods to come up with the money to pay those purses. In Florida, there is a Florida Bred Incentive Fund (FBIF) which incentives owners and trainers to race horses which were bred in the state. A “hometown premium” if you will.
My take: This is a very good sign, amid a period in Florida racing where there is no shortage of turmoil, as I’ll explain and report on here throughout 2026. My favorite expression in life is “control what you can control, and try not to stress about what you can’t.”
FBIF, as with funds in other states (Kentucky being a major one), is one of many factors that steers horsemen to or from tracks. Incentives attract business. And while the folks running my beloved Gulfstream Park cannot control the politics and the different visions for the future of racing in the Sunshine State, the can control things like this. So it is great to see they acted on it to start the year.
If you were looking a New Year’s Resolution, there’s one to consider. It’s mine…every year. In fact, every day. And this site will focus a lot on what we CAN control.
In the business of racing in general and horse ownership more specifically, there are many ways to go about it. And I’m no expert, more a fan turning what was a hobby into a business, through my efforts here and through my own increased commitment to ownership. And by connecting people within and outside the industry, with the goal of elevating this sport in ways it will appeal to the masses. Like it used to. And as it can again.