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The 29-year-old suffered serious injuries after falling from his mount in race two on Saturday.
Bholah was initially transported to Grey Base Hospital in Greymouth before being transferred to Christchurch Hospital, where he is recovering.
The Mauritius-born jockey moved to Wingatui last year to work for trainer Steve Tyler.
Tyler told the Otago Daily Times he had been shaken up by the awful accident but was able to report Bholah was making good progress.
''He is doing really well,'' Tyler said.
''They were getting him up on his feet [yesterday]. He has no head injuries, no nerve damage. He has three fractures in the neck, the broken collarbone, shoulder blade, ribs and finger still.
''So he is in a lot of pain but his spirits are very high.''
Tyler said while it was a terrible accident, it could have been a lot worse.
''The medics were really concerned ... so he is very, very lucky.
''It is a huge relief for us but it is still a devastating shock. He is like our son.
''He has been living with us for 12 months and he is family to us. We're the only family he has got here.''
Tyler said it was difficult to visit as it was a nine hour round trip, but he will see him today.
He also has a few jockey mates in Christchurch who are going to see him.
''He is getting visitors but he is still very tired and pretty dazed. He can only handle so much.''