How Much Is A Guinea In Horse Racing?

If you have been to a horse-racing event, you might have heard the word 'guinea' mentioned when talking about money or currency. Even if you are an experienced horse racing fan, you might be wondering what a guinea is and how much it is worth. A Guinea is worth £1.05 and is an old British unit of currency that is no longer legal tender, yet it still survives through horse racing and bloodstock sales. Here, we are going to go through the origins of the term and how it applies to horse racing.

A guinea is an old British unit of currency that is no longer legal tender, but it is still used in certain contexts, such as horse racing. Being worth £1.05, one guinea is one pound plus one shilling, or 105 pence. Once a coin, it has been out of circulation since the early 19th century, but the term remains deeply rooted in horse racing culture. 

Guineas are primarily used in horse auctions and sales, especially when buying or selling thoroughbreds. The tradition dates back centuries and is still used for many reasons:

The built-in commission system is seen in plenty of auctions, not just horse racing, as it has worked well in the past. Let’s look at an example:

The word “Guineas” is seen all throughout horse racing, and you might even see horse racing results from infamous events such as the 2,000 Guineas Stakes and the 1,000 Guineas Stakes. These race names do not reflect the current prize money but instead refer to the original purse value when the races were first established in the early 1800s. Today, the prize money is much higher, but the historic names remain the same. 

The most common times you might hear the word “Guineas” are:

If you ever find yourself using guineas, you might be wondering what the exact conversion is. Here is a quick table to show how guineas are converted into pounds:

 Now that you know what Guineas are and how much they are worth, you will be able to confidently understand what it means. If there is any terminology in horse racing racecards you are not sure of, check out our blog, which is full of descriptions and explanations.