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Ready to own a racehorse?

 

Perhaps the ultimate for pet owners is owning a horse. To start with, the size of this animal is sheer intimidation. We’re not talking about a basket to sleep in or a doggy door through which it can leave the house to answer a nature’s call.

It you are into horseracing, owning a horse takes on a new meaning. Ownership makes you an integral part of this sport with very satisfying rewards if you manage to own one of the best horses. Ownership has been described as “your ticket to the inner-sanctum of the Sport of Kings”, but participation in the sport is no longer confined to blue bloods or multi-millionaires.

Ownership options

You do not necessarily have to be the sole owner of a horse. This is good news, if you only consider that a horse does not eat three times a day, but grazes constantly and needs a balanced diet to perform well. Then there are the dentist’s visits. Like humans, horses change their teeth while still young. The constant grazing results in worn teeth that need regular check-ups.

There are various ownership schemes available. The most popular is part-ownership, where you get to share all the thrills of race days, as well as the bills. Part-owners are afforded all of the privileges associated with sole ownership, but at a fraction of the cost. Syndicate ownership offers a large number of people the chance to own a share of a horse at a much lower cost than offered through part-ownership. Syndications are offered through approved syndicate promoters.

One can also lease a horse with family and friends without having the ongoing responsibility of owning a one. The lessee still pays for all training fees and associated costs, and keeps a percentage of prize money won. The leasing owner (typically the breeder) commonly retains a cut of prize money won.

Know your status

Once you own a horse, you need to know the various statuses that your horse can be in. The most obvious, “active”, means just that – a working horse.  If not in work, your horse can be “spelling”, unless it is in one of the following states: “Transferred” means it has been transferred to another stable and that the horse is not currently in training. “Exported” means just that – exported out of the country. If a horse is “retired”, it means it is in breeding or injured. Guess the last status? Yes – “deceased”.

So what will a racehorse typically cost, if you decide to go for sole ownership? The average price at yearling sales around Australia vary from sale to sale, but prices can start at a few hundred dollars or reach as high as $1 million plus.

Owning a racehorse is a sport, not a business. Owning a horse is much more than watching it race for a few brief minutes every now and then. Success stories vary: There is a long list of expensive racetrack flops and an even longer one of bargain buys – horses bought for a proverbial song who have returned their owners their purchase price many times over. Horse ownership can leave you a proud owner and at the same time a participant in your favourite sport.

Sources

https://owner.racing.com/
http://www.magicmillions.com.au/

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