Basic Question on Horse Ownership

[sq764]

I have a basic question I was hoping to get direction on.. A couple of friends and I were considering claiming a t-bred horse. I am not clear on what needs to be done in the meantime before we can actually do that.. A couple of questions:

1) Where do I start in the way of getting licensed?
2) If multiple names are on the ownership, does everyone have to be licensed?
3) How much is the whole process?
4) Where would I go to find information on this?


Thanks in Advance,
Scott

[Figman]

Try this:
http://www.nationallicense.com/owner.html

Usually racing states grant their own owners licenses. If you want to see the New York Thoroughbred rules go to www.racing.state.ny.us. Under "racing", "rules" is 4002.5 that begins the provisions for licensing.

[Tim]

Try this site.

Thoroughbred Owners and Breeders Association

http://www.toba.org/

on the home page is a link to: Buying Your First Racehorse

Tim

[FortuneHunter]

You may want to look into an existing owner syndicate for the first time around. I inderstand you get alot of the benifits with less hassle and risk.

Anyone know of a good one?

One with a couple of Shieks in ot would be nice.

[Show Me the Wire]

Scott:

Licensing is usually easy. All you have to do is pay the fee as long as you are not ruled off a race track and do not have a criminal record involving a crimes of dishonesty. You usually pay a separete fee to race under a partnership and every member has to be licensed.

The real problem is selecting an honest and knowledgable trainer. Thie is where the financial problems arise. A trainer of questionable reputation can take advantage of you. Trainers running public stables earn their living primarily through daily fees. This has a lot of implications. The trainer needs alot of horses in his stable to operate profitably. Your horse may not get the attention or care due to the size of the stable and the size of the trainers other clients.

Additionally, you must make sure you pay a fair daily fee. Do not select a trainer with the cheapest day rate. The least expensive trainer usually cuts corners and its usually by using inferior feed and skimping on hay and viatimins.

Good luck yo you in your venture.

Regards,
Show Me the Wire

[sq764]

What would a top trainer at Charlestown like Kravets or Brown or Stites charge per day, week or month?

[LurkingBettor]

sq764,

For an inexpensive way to get into racing and learn all the ropes, go to www.vop.org .....nice people, very knowledgable, and you can get the answers to your questions as your horse(s) are in training and running.

LurkingBettor

[Schlagman]

The key to it all is getting with the right trainer. Unless you have mega millions to invest, it's unlikely you'll end up with one of the top guys. Best to ask around and get a referral. When I claimed horses in Northern California, I ended up with Art Sherman by getting referred to him. The trainer will then guide you along through the rest. Be aware that it's just as hard (or even harder) to make $ as an owner as it as a player. Many claims fail to hold up health wise, and the monthly cost of care and training was $35 a day some years ago. It's probably higher now.

[JimH]

The cost of keeping a sound horse in training ranges from about $1,500 to over $3,000 per month, depending on the locale, the trainer, etc. This includes training, feed, farrier (blacksmith), grooming, and routine veterinary care.

So, I would probably advise against trying to get lucky with a basement claimer, since horses of that ilk run for purses where you'd need to win a race a month to cover the monthly bills (unless you are at Charles Town or Mountaineer with insanely inflated purses for cheap horses).

I'm in a partnership and we focus on claimers--$20,000 and up!! At that level, a horse has a better chance of earning his way since he's running for purses of $17,000-$30,000 and one second-place finish in a month spells profitable month. In fact, just one win per month pays for the entire three-horse stable we have (and among the three horses, we are looking at four or five races a month, so at least we have a prayer).

Besides, a lot of $4,000 claimers are running at that level because they are horribly unsound. Vets put their kids through college because of $4,000 claimers, several of whom need to be shot up with stuff on a daily basis just to be able to get to the track for their workouts.