Wincanton Racecourse, in Somerset, has cancelled its Boxing Day meet because of a frozen track.
Racecourse chairman Mark Woodhouse said it was the fifth event to be cancelled this year.
The company is insured, but casual staff and jockeys will all lose out financially.
Minehead trainer Phillip Hobbs said cancellations had an impact as they trained horses for up to six months before an event.
Anyone who has bought tickets in advance will be refunded.
Mr Woodhouse said: "It's our biggest day in the year by a long way. To lose Boxing Day is a big financial blow.
"We've had a terrible time this year. Boxing Day will be the fifth meeting we've lost.
"We always accept we're going to get one or two, but five is unprecedented."
Mr Hobbs said: "We have plans for horses for the majority of three weeks in advance. For the best horses we have plans probably six months in advance.
"It just means that we have to be flexible and we have to keep on trying to find new possibilities for them."