ownership of standardbreds

[NY BRED]

one of my friends has started a claiming partnership for standardbreds,
and although I've declined to join he seems to have several interesting
statements as to why I shoould consider his "game".

The SB can , with decent luck race once a week, meaning a claimer fitting for
a 25k claimer, at the end of the month is actually racing for 75k-100k
(health would be the wild card)
.

Generally, when not stabled at Club Med, the SB is stabled at a farm., which
inmho is way better than a TB standing in a stall at Bel/AQu.

It would seem that maintenance costs would be less than the TB, but he advises trucker expense from the farm to the track negates that savings.

Anyone out there that owns SB's ? I'd be curious to your experience as an owner,especially if you are racing on the NY/NJ/Pa circuit.

Thanks...

[HUSKER55]

TRY EMAILING LAMBOGUY

[Imriledup]

Ownership of harness horses is great, its dealing with the partners that might get tricky.

You need to go into business with people who are winners and who have proven that they've won as owners in the past, or it might not be as fun. Its never fun to lose.

Its fun to race standardbreds, but you need an entire plan on how you are going to attack this and try and actually make a profit. Do you guys have an elaborate plan on what kinds of horses to select, what trainers to use, how to manage the stable, etc?

I'd suggest you have a plan all outlined and just really need to plug in a few horses to make it go.

[markgoldie]

(1) Go into structured partnerships only. This structure should vest the important decisions such as what horses to purchase or claim to either the trainer or the managing partner. If using a managing partner to control such decisions make sure that he or she is (a) an expert handicapper and (b) familiar with the circuit so as to eliminate claiming from "technician" barns from whom it is difficult if not impossible to improve (or even maintain) performance. Generally, any managing partner will need some input from the trainer, especially when it comes to soundness of the prospective acquisition.

Register as an LLC corporation and (this is critical) demand that the partnership have a strict termination date. Such termination should be between 1 and 2 years from outset, with 18 months being a good compromise. Invest in partnerships that have a strict "one-time, up-front" payment policy. That means that all maintenence costs are paid for up front because partnerships with routine maintenence payments can get out of hand and "nickle and dime" you to death.

(2) Deal in open claimers only. This is essential. Conditional claimers for non-winners are inferior stock for the most part and have to take a huge drop in class (and price) when they work their way out of conditionals and into the open claiming ranks. Condition non-claimers are not a good investment because as soon as they win too much money, they must step up into a class where they are rarely competetive. Then they must lose in order to drop back down. Consequently, the average earnings per start for these horses is generally much lower than for well-managed open claimers.

(3) Trainer selection is probably the most crucial decision when it comes to possibility for success. You want the highest percentage trainer possible and one that is routinely operating in the open claiming game. The overwhelming problem here is that most of these guys are fully stocked already. They may have room here and there for a horse in a given class but that's not going to help you in assembling a stable. For example, if the track offers a single $25,000 claiming race for pacers each week and the trainer has a horse in that class, you will only race every other week because unlike t-bred racing, entries are not allowed in these races. Knowing this, the trainer is unlikely to even make such a claim because he knows he will have two dissatisfied owners on his hands. A creative alternative is using different trainers at the same track or even different race tracks, but for this you need a master managing partner to set up, deal with, and and manage different trainers and venues.

The alternative of selecting a "B" trainer who has plenty of room for new stock won't work. These guys have few horses for a reason.

(4) Demand diversification. If the partnership has $100,000 to spend, the last thing you want to do is spend $100,000 on one horse. If lameness or sickness occurs, you are out of business. In general, I would never invest more than 20% of the available capital in a single animal. Make sure this is in the partnership agreement.

(5) If you have the capital and inclination, avoid partnerships altogether and do it on your own. The problem with relatively well-heeled investors is that they all have lawyers and are not afraid to use them. Any sort of real or perceived violation of the original agreement may allow a single partner to sue and thereby effectively shut down the operation. This can kill you and while it may seem that the suing partner is cutting his own throat, he is probably calculating that he can get a "lost-earnings" bonus in his settlement if the suit results in shutting down the racing of the stock.

All this being said, you are right that standardbred ownership is generally far more lucrative than t-bred ownership. With slot bills in Pa., NY., and Del., the purses versus investment and expenses is very good right now.

Hope some of this has been helpful and if you have further specific questions, send me a PM.

[Java Gold@TFT]

Everything Mark said, especially - know your managing partner and trainer in advance and get an LLC drawn up. Good luck.

[Mineshaft]

One thing i dont like in SB's i when they win you have to jump in class. Why? Its my horse let me run where i want to. That reason will make me not want to claim a SB.

[DeanT]

One thing i dont like in SB's i when they win you have to jump in class. Why? Its my horse let me run where i want to. That reason will make me not want to claim a SB.
Where is this? It is not that way on the major circuits. You can win and drop or win and raise or stay in the same class. A couple areas have a 14 day jail like tbreds, but no restrictions after that.

[Horseplayersbet.com]

Where is this? It is not that way on the major circuits. You can win and drop or win and raise or stay in the same class. A couple areas have a 14 day jail like tbreds, but no restrictions after that.
Do they still write conditioned races where there is a restriction of how much a horse could have made in the last 5 or 6 races?

It has been a while since I've looked at the conditions of a harness race.

[Brogan]

Generally, when not stabled at Club Med, the SB is stabled at a farm., which
inmho is way better than a TB standing in a stall at Bel/AQu.

I'm curious what you mean by this. They stand in stalls on the farm too, don't they?

[DeanT]

Do they still write conditioned races where there is a restriction of how much a horse could have made in the last 5 or 6 races?

It has been a while since I've looked at the conditions of a harness race.
Yep. If your horse has not made say 10k in his last six he can fit that class

[Mineshaft]

Where is this? It is not that way on the major circuits. You can win and drop or win and raise or stay in the same class. A couple areas have a 14 day jail like tbreds, but no restrictions after that.





Have no clue im not a SB guy. I was just told they make you jump up.

[wilderness]

I'm curious what you mean by this. They stand in stalls on the farm too, don't they?

Yes, however in most instances the horses are turned out into pastures for some grazing and even playing (there's nothing like watching a horse roll in the mud or frolic in the snow).
Bigger farms in less-than-metropolitan-areas offer larger pastures.

Some horses thrive on the outdoors and pastures and some don't.

Some farms also offer stalls in which the horses may come and go as they please.

Some breeding farms leave their horses in the pasture year-round.

[wilderness]

Where is this? It is not that way on the major circuits. You can win and drop or win and raise or stay in the same class. A couple areas have a 14 day jail like tbreds, but no restrictions after that.

Dean,
Many circuits used to have a requirement of the horse racing 10 or 20% higher for x-days after a claim.

I recall the policy still exists in some areas, however cannot provide which.

The recent controversy (http://www.standardbredcanada.ca/category/news/all-weapons) of the horse that claimed in Toronto and won the Cup and Saucer in the Maritimes may provide some insight past the 14-days

[botster]

Good horses can make a even smaller operation trainers look good and make it an enjoyable experience for all partners involved.Yes, it is true, most smaller operations are at a distinct disadvantage from the high percentage trainer/vet stables,but with this being true, a patient, well knowledged horseman, can compete at a legitimate level in the standardbred game.

As owners do, trainers also, must be very meticulous in picking out partners in an agreement.The trainer must make the final, deciding factors, in almost all matters.Owners opinions need to be strictly scrutinized in reguards to their knowledge and with their direct involvment with their "hands on" experience of the game.As they become better experienced, so then, their opinions will hold more weight with the trainer.I always like my owners to come down to the farm, or the track, where his/her horse is stabled and take a real interest in the horses daily routine.

As a trainer, I believe I should own a percentage of any horse I am being paid to train.It shows the other owners, I am indeed trying my best to make money with the horse.

[NY BRED]

Thanks guys for all your interesting points.

My buddy does have the right credentials as he has won quite
a few races these past few years at Club Med and Yonkers
and I your points regarding the differeces in ownership
as result of my involvment this past few years.

While I've never been a fan of the Harness game, it appears
there is some degree of less risk based upon the ability of the
SB to race more often, and yes, I'm ceratin the trainer
driver and Partners/General Partner are equally important
to have some enjoyment.

Bet regards to all for your insight!

[LottaKash]

I recall a "FEW" years back, when 5-of us nobody's, pooled our resources and claimed a horse "for $500", back at the old track in Georgetown, DE.....

We hit paydirt that year, and made $1,212.....:jump:

best,