A Look at the Origin of the Kentucky Derby

A resident of Memphis, Tennessee, Jimmy Winemiller is an accomplished real estate professional. Jimmy Winemiller is passionate about horses and racing. His wife’s horse, Wine Princess, race at the famous Churchill Downs, home to the Kentucky Derby.

Horseracing has been a sport for centuries and has a storied history in the United States, especially in Kentucky. The Kentucky Derby is known across the world as the premier horseracing event of the year. It started when Meriweather Lewis Clark took in horse races in Europe during his visit in 1872. He had attended the Epsom Derby in London, England. Clark decided that he must bring this event back to America and enlisted the help of his two uncles, John and Henry Churchill.

The first Kentucky Derby was held on May 17th, 1875, sponsored by the Louiseville Jockey Club. It consisted of around 10,000 spectators viewing a one and a half-mile race by 15 different horses. The winner of the first-ever derby was a three-year-old thoroughbred named Aristides.

Brevard Harbor Edge Purchases Farm

A real estate development professional with four decades of experience, Jimmy Winemiller has developed commercial and residential properties throughout Florida and the southern United States. Jimmy Winemiller serves as an agent for Brevard Harbor Edge, for which he purchased a property of 2,294 acres near Palm City in Martin County, Florida.


Purchased at auction in 2013, the farm property was owned by the Madonia family, who grew tomatoes, potatoes, squash, cabbage, peppers, and sweet corn. Situated along the I-95 interstate highway and the Florida turnpike, the property has a drip irrigation system throughout. Along with farmland, the property features an airstrip approved by the Federal Aviation Administration.


The St. Lucie Inlet Canal runs along the property lines. Future development potential includes a marina on the canal. The property has been divided into 250 lots with the airstrip occupying a common area. In 2014, Brevard Harbor Edge purchased 34 acres adjacent to the property, offering convenient access from the main road to the farm.

The Benefits of Drip Irrigation

Based in Memphis, Tennessee, Jimmy Winemiller is an accomplished real estate investor who has completed a number of real estate transactions. In his capacity as an agent for Brevard Harbor Edge LLC, he acquired 2,294 acres of farmland in Martin County, Florida, in 2013. Subsequently, Jimmy Winemiller helped to implement a drip irrigation system on the site.

A method of providing nutrients and water to crops, drip irrigation involves a system of interconnected pipes, valves, and tubes that are installed at the root zone of plants. Water drips slowly out of the system’s emitters, allowing the crops to take in the water and soil nutrients more efficiently due to localized emission. This allows for the optimal growth of plants since there is a significant reduction in fertilizer and water runoff.

At the same time, drip irrigation leads to significant water savings since it requires less water pressure and minimizes evaporation. It also prevents disease and rot by limiting the water contact to where the plant needs it most, and by keeping excessive moisture away from the leaves, stems and fruit. It keeps the rows between the crops dry, as well, thus limiting weed growth. As such, not only does drip irrigation reduce costs, but it also helps to increase crop yields. 

The US Horse Industry’s Economic Impact

Jimmy Winemiller is an accomplished, large-scale farmer who owns and manages farms in multiple states. He has also been active in the horse industry as a thoroughbred enthusiast. The previous owner of the thoroughbred farm Iron Horse Farm in Arizona, Jimmy Winemiller has bred and raised champion thoroughbreds.

 

In early 2018, the American Horse Council (AHC) Foundation released the results of its 2017 National Impact Study, which updates the foundation’s 2005 Economic Impact Study. The report noted that the horse industry’s direct economic impact on the US economy was around $50 billion, and that it directly provided 988,394 jobs. The industry was also responsible for $38 billion in direct salaries, wages, and benefits.

 

The horse industry’s impact trickles down to other economic sectors, and the estimated total horse industry contribution to the US economy amounted to $122 billion. This figure was $20 billion more compared to the 2005 study. Meanwhile, the industry’s total employment impact stood at 1.74 million jobs. The updated figures are important for the AHC to gain added attention in the nation’s capital. Through the study, the AHC hopes the general American public will become aware of the horse industry’s significant contribution to the economy.

Thoroughbreds and Other Horse Racing Breeds

Jimmy Winemiller has engaged in a variety of property development activities and real estate transactions over the course of his career, ranging from beachfront communities to large agricultural lands. Jimmy Winemiller is also involved in professional horse racing, at one point owning more than 100 thoroughbred horses.

Thoroughbred horses are one of the most popular breeds within the professional horse racing industry. In addition to the breed’s renowned speed and intelligence, thoroughbreds have a temperament that can be described as both friendly and competitive, making them an ideal racing horse breed, regardless of whether a rider is competing in a flat, steeplechase, point-to-point, or endurance competition.

That being said, thoroughbreds are far from the only popular horse racing breed. Arabians, for instance, were originally bred in the desert, and are now regarded as one of the most talented endurance racing breeds in the world. It should be noted that while Arabians make for good family horses, they are more hot-headed in temperament when compared to the average thoroughbred. Quarter horses, on the other hand, are best suited to flat races. In fact, the breed takes its name from the quarter mile flat. The versatility and loyalty of the appaloosa, meanwhile, makes the breed a fitting choice for flat and barrel competitions. Additional horse breeds that excel across various event types include the standardbred and the French and Orlov trotters.

Finally, the Shetland pony deserves to be compared to other racing breeds. While the Shetland would struggle to keep pace with a thoroughbred, they are still very fast animals and can serve as excellent training companions for young and undersized riders, as demonstrated at the annual Shetland Pony Grand Nationals event, which features riders as young as 8 years old. 

Prize Money at Popular Horse Races Around the World

Jimmy Winemiller is an experienced real estate professional who has successfully acquired, developed, and sold a range of property types, from commercial plots to extensive agricultural properties. Jimmy Winemiller is also involved in professional horse racing, at one point owning more than 100 thoroughbreds.

The three races comprising the Triple Crown represent the pinnacle of horse racing in the United States. Unsurprisingly, the Kentucky Derby, Preakness Stakes, and Belmont Stakes each offer a healthy grand prize to the winning teams. The Kentucky Derby is the richest of the three races, with a total purse of $2 million and a $1.432 million payout for the winner, with the remaining purse divided among the next four highest-placing finishers.

Both the Preakness Stakes and Belmont Stakes, meanwhile, have purses of $1.5 million, though the grand prize at the Preakness is $900,000, compared to $800,000 at Belmont. Furthermore, Belmont pays out to the top eight finishers, rather than the top five.

While these boast significant prizes, the Triple Crown events hardly represent the sport’s most lucrative races. The world’s wealthiest horse race, the Saudi Cup, carries a total purse of $20 million, with $10 million set aside for the winner.

The race is held between the Pegasus World Cup and the Dubai World Cup, which both pay about $7 million to first-place finishers. Other large-prize races include the Everest in Australia, with a $10 million total purse, and the Breeder's Cup Classic, which pays more than half of its $6 million purse to the winner.

An Overview of Thoroughbred Horses

Jimmy Winemiller is an accomplished entrepreneur and investor who has successfully completed a number of real estate deals involving large tracts of agricultural land. In addition, Jimmy Winemiller has been involved with many other real estate projects, ranging from closing on multi-purpose commercial properties to his past ownership of Iron Horse Farm and 12 thoroughbred horses.

The use of the term “thoroughbred” is highly specific in the world of horse racing. Generally speaking, a thoroughbred is a horse that has been specifically bred as a competitive race horse. However, the term is often incorrectly applied to any purebred horse. Furthermore, the term is sometimes used colloquially outside of horse racing to describe any well-bred animal, or even a well-educated person.

In fact, thoroughbreds are a distinct breed of horse. The breed’s lineage can be traced back to the 17th and 18th centuries, when English mares were bred with horses of Arabian, Barb, and Turkish descent. The results were a very fast and agile animal. Today, approximately 20,000 thoroughbred foals are registered in the United States each year. While the thoroughbred is a popular choice for competitive breeders, American quarter horses, Arabians, and several other breeds are also commonly seen on the racetrack.