Some fans of horseracing want to take their interest to another level of participation. Many handicappers have a desire to own a racehorse. It is even more fun when the horse you are betting on is yours. The ownership of a racehorse is an expensive endeavor and beyond the financial capabilities of most individuals. A horseracing partnership can offer an inexpensive way to purchase a share of a racehorse.
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The Expenses of Owning a Racehorse
If owning a racehorse were inexpensive, more people would probably do it. The fact is that maintaining a quality thoroughbred for competition involves numerous expenses. If a horse does not perform well, it is possible to lose a lot of money.
To begin, racehorses must be housed and fed each day. Housing is not always expensive for a professional trainer. Most racetracks will allow trainers to stable their entire string of horses for free as long as the trainer is regularly entering races at the track. Accommodations are a stall in a barn. The trainer is responsible for providing feed and bedding. Unless you are a professional trainer, just stabling a horse can cost hundreds of dollars each month.
Bedding is usually wood shavings which are purchased by the pallet. It is not uncommon for a single bag of shavings to cost $6 or more. As many as six or eight bags can be required to initially bed the stall, and more must be added on a regular basis as the stall is kept clean.
Food for the thoroughbred racehorse is a complex matter. Racehorses are athletes and have specific nutritional requirements. Feeding a horse is not as simple as throwing them a bale of hay and providing a few oats. Bags of feed for racehorses can cost $12 or more for 40 pounds.
Medications and veterinary work may be required on a regular basis. These expenses can add up quickly. It is also necessary to pay an exercise rider to steer the horse through daily workouts, a groom to clean the horse’s stall and tend to the horse’s daily care and well-being, and a hotwalker to cool the horse out after workouts and races.
Owners often send their horses to a thoroughbred trainer. The trainer charges a daily rate which includes most of the expenses listed above. Inexperienced trainers at small tracks may charge $40 per day or less. The best trainers in the industry can command a day rate which exceeds $100. This rate must be paid each month in advance, and it is not dependent on whether or not the horse succeeds on the racetrack.
It should be apparent that owning a racehorse is something most people cannot afford to do. A horseracing partnership, however, brings together a group of people who love EZ Horse Betting and lets them purchase a share of a race horse for much less. Together, these individuals experience the pride of watching their horse compete.
How a Horseracing Partnership Works
A horseracing partnership is managed by a company on behalf of a group of owners. The partnership company is charged with acquiring racehorses and having them trained. They then charge owners a purchase price for individual shares. Some partnerships also offer half or quarter shares. The cost of a share can vary from partnership to partnership. It may be as low as $499 or higher than $1,000.
The value of a horse will determine how many shares are sold. A horse that was purchased at a sale for $50,000 could be sold to fifty partners for $1,000 per share. Each partner would then own 1/50th of the horse. Some partnerships add money to the purchase price to insure they make a profit from the sale to the partners.
Once the horse has been sold to a group of partners, the ownership can proceed in a few different ways. Some partnerships require no further investment. Others require owners to pay a monthly maintenance fee which covers the cost of training the racehorse.
Any earnings that the horse receives from racing are distributed to the partners, minus expenses. In reality, those who join a modest horseracing partnership should not expect to make much money from earnings. The experience is not about earning money but about the thrill of watching one’s horse compete on the track.
The Benefits of a Horseracing Partnership
There are numerous benefits for members of a horseracing partnership. Chief among these is the right to claim ownership of a horse. It is a matter of prestige to tell your friends and associates that you own a thoroughbred.
Benefits also typically include free entrance to the racetracks where a horse competes. Owners are usually allowed special seating, parking areas, and access to the paddock where horses are saddled before a race. For those individuals who like the history of horseracing, this can be a wonderful thing to enjoy.
In some cases, owning a racehorse might confer some tax advantages. This is a matter that is best discussed with your accountant and tax professional.
How to Lease a Racehorse for Two Minutes
While many individuals would love to own a racehorse, you will often hear handicappers offer a different perspective. Why buy a horse when you can lease one for two minutes? Every time you make a bet on a horse you like, you’re essentially buying a small share of the horse in one specific race. If the horse performs well, you will earn money on your short-term lease!
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