Owning a Racehorse

[dodgingandweaving]

Opportunity has come up to buy into a syndicate for a racehorse. Always wanted to do it. Who out there has/does own a horse, would you recommend it? What are the do's and dont's, what to look out for, etc, etc.

[Dutchy]

Firstly I dont buy into a racehorse, we are offered a horse with no upfront cost, but if/when it has its first win a predetermined amount will go to the trainer, for example CC was $7k but only payable when she won her first race and most of the prizemoney covered it anyway. If the horse doesnt win there is no payment, its a good system which encourages the trainer to get it to win!

So all you have to cover is the monthly fees, which are about $2500 per month when in work and about $300 when in the paddock - if your not winning any prizemoney its can get expensive!

And dont expect to get rich, in fact best to go into it thinking you will lose money on the deal, apparently only 1% of horses end up winning a city (Sat) race

All that aside its a sensational buzz to see your horse race and all the benefits - free entry, members passes, going into the mounting yard, free drinks in the winners bar, winnings from your bets etc

and you never know you could be the next fairytale racing story!