How to own a racehorse: Equine economics

    By Danielle Rossingh, for CNN

    Updated 0956 GMT (1756 HKT) February 28, 2019

    Boasting the world's first five-star trackside hotel, restaurants and a museum, Dubai's Meydan Racecourse is a first-class racing destination.
    Photos: 10 of the most picturesque racecourses
    Meydan Racecourse, Dubai – Boasting the world's first five-star trackside hotel, restaurants and a museum, Dubai's Meydan Racecourse is a first-class racing destination.
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    St. Moritz is known for world-class skiing, glitz, glamor and...horse racing? The venue for the White Turf event, held three days a year, isn't your typical racecourse. Instead, it's held on a frozen lake.
    Photos: 10 of the most picturesque racecourses
    St. Moritz, Switzerland – St. Moritz is known for world-class skiing, glitz, glamor and...horse racing? The venue for the White Turf event, held three days a year, isn't your typical racecourse. Instead, it's held on a frozen lake.
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    Flemington is Australia's oldest metropolitan racecourse and home to the famous Melbourne Cup. The revamped venue was first used in 1840 when the town of Melbourne was just five years old.
    Photos: 10 of the most picturesque racecourses
    Flemington Racecourse, Australia – Flemington is Australia's oldest metropolitan racecourse and home to the famous Melbourne Cup. The revamped venue was first used in 1840 when the town of Melbourne was just five years old.
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    Simply put, there is no racecourse in the world quite like the Piazza del Campo in Italy. Its origins date back to medieval times when jockeys rode buffalo. The piazza is packed with spectators with racing around the outside.
    Photos: 10 of the most picturesque racecourses
    Piazza del Campo, Italy – Simply put, there is no racecourse in the world quite like the Piazza del Campo in Italy. Its origins date back to medieval times when jockeys rode buffalo. The piazza is packed with spectators with racing around the outside.
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    Happy Valley Racecourse was built in 1845 to provide horse racing for expat Britons living in Hong Kong. It's surrounded by giant apartments and skyscrapers -- giving visitors an unusually beautiful scenic view.
    Photos: 10 of the most picturesque racecourses
    Happy Valley, Hong Kong – Happy Valley Racecourse was built in 1845 to provide horse racing for expat Britons living in Hong Kong. It's surrounded by giant apartments and skyscrapers -- giving visitors an unusually beautiful scenic view.
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    Just the name "Ascot" conjures visions of royalty, elegance, high fashion and world-class racing. The racecourse was opened in 1711 by Queen Anne, and Royal Ascot is still one of the most celebrated meetings on the calendar.
    Photos: 10 of the most picturesque racecourses
    Ascot, England – Just the name "Ascot" conjures visions of royalty, elegance, high fashion and world-class racing. The racecourse was opened in 1711 by Queen Anne, and Royal Ascot is still one of the most celebrated meetings on the calendar.
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    Spectacular and timeless, historic Chantilly sits in front of the 16th-century Chateau de Chantilly and the majestic Great Stables (pictured) amid forests 30 miles north of Paris.
    Photos: 10 of the most picturesque racecourses
    Chantilly, France – Spectacular and timeless, historic Chantilly sits in front of the 16th-century Chateau de Chantilly and the majestic Great Stables (pictured) amid forests 30 miles north of Paris.
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    Laytown Races is the only official beach race in Europe. Situated on the Irish coast, the 150-year-old tradition attracts more than 5000 regular visitors every year. Horses race along the sands on a makeshift course.
    Photos: 10 of the most picturesque racecourses
    Laytown Races, Ireland – Laytown Races is the only official beach race in Europe. Situated on the Irish coast, the 150-year-old tradition attracts more than 5000 regular visitors every year. Horses race along the sands on a makeshift course.
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    The rolling Sussex countryside unfolds in front of one of the most iconic venues in flat racing. Goodwood has hosted racing since 1802 and offers the perfect setting for the famous Glorious Goodwood meeting.
    Photos: 10 of the most picturesque racecourses
    Goodwood Racecourse, England – The rolling Sussex countryside unfolds in front of one of the most iconic venues in flat racing. Goodwood has hosted racing since 1802 and offers the perfect setting for the famous Glorious Goodwood meeting.
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    Cheltenham is a shrine to jump racing against the idyllic backdrop of the Cotswold hills. It hosts the prestigious Cheltenham Festival every March, the highlight of the world's jump racing calendar.
    Photos: 10 of the most picturesque racecourses