There are fewer significant goals in life for fans of horse racing than taking their experience within the sport to the next level by owning a thoroughbred.
For many, this dream will never be attainable due to the deep pockets that are required in order to firstly buy a horse, and then the money that it will cost to keep the runner in training.
However, for some, owning racehorses can be an incredibly lucrative venture, especially if you are able to pick out a horse from a young age that is capable of winning some of the world’s most famous races. But, why should you be interested in investing in racehorses?
Buying a Racehorse and Outgoings
Taking steps toward racehorse ownership isn’t a cheap venture, especially if you’re looking to unearth a star that could write its name into the history books. Horses that are capable of performing in the highest quality of races are typically sold at yearling sales for well over $200,000.
This price has rarely gone down, with the most perfectly bred runners now attracting money in the region of a million dollars. However, buying a horse is only the first step into ownership, as training fees and other annual outgoings must also be taken into account.
This includes assessing the daily or weekly fees that must be paid to trainers to get horses ready to compete on track. Trainers with proven records at the highest level will typically attract higher rates.
Meanwhile, owners should also take into account vet and medical bills. As a general rule, these could mean that an owner has to pay out over $2,000 per month to ensure that their runner is healthy enough to compete on track. Following this, owners will also need to pay a fee in order to enter their runner in a race, with more prestigious the race attracting a higher entry fee.
Pros of Owning A Racehorse
Owning racehorses is a pipedream for millions of people across the world, and while it may be an expensive venture, there are clear benefits that come with the experience.
Prize Money
One of the biggest perks of being a racehorse owner is the prize money that you stand to win if your runner performs to a high standard.
Each race will offer different prize money, with eye-watering sums up for grabs in races such as the upcoming Belmont Stakes. You can find more about racehorses in the Belmont Stakes here: twinspires.com/belmont-stakes/results/
However, it isn’t just the winner that picks up their slice of the pie, as some races offer money to runners that finish second, third, fourth, and fifth.
Therefore, horses that are able to compete regularly at the highest level will see owners getting a return on their investment quickly.
Raceday Experience
For lovers of the sport, there are few better perks when being an owner than the experience that they stand to enjoy at the racecourse. Having a runner on the track grants owners free entry to the course, as well as lavish meals and free bars.
Not only this, but owners will be in the middle of the parade area getting a close-up look of their runner before the race. Owners will also have the best seat in the house when it comes to watching the race.
They will also be on hand to welcome their runners back into the parade ring after the race has been complete, and they can experience a rundown of the performance after discussions with the jockey and trainer. Winning horses will also pick up a trophy, with owners able to collect the award on stage.
Go Behind The Scenes
Owning racehorses also gives owners the opportunity to go behind the scenes and broaden their knowledge of the sport. This includes being able to attend open days at the yard of the trainer where your horse is housed.
While here, you can expect to see your runner work out, and you can get a better understanding of the excellent treatment that thoroughbreds experience on a daily basis from their dedicated grooms.
These trips also give owners the opportunity to talk to the trainer surrounding plans for their horse, and potential next steps when it comes to planning the perfect race to gain returns on their investment.
Are There More Affordable Routes into Ownership?
Sole ownership of a racehorse can be a very expensive venture, meaning that many look for more affordable options. Syndicates are one of the most popular, as owners can share a percentage of a horse, meaning that they will agree to take a low portion of the prize money.
However, syndicates ensure that owners can still experience all of the typical benefits that come with owning a racehorse, such as attending racing meets and enjoying open days at a trainer’s yard.