Recently invested in a horse on myracehorse.com. Does anyone use the site?
 

Figured this was probably the best spot for a thread like this. Decided to spend 75 bucks in a .01 percent share of Mo Mischief. I know the odds of making profit are pretty slim, but I’m doing it for the fun of it as it seems like it could be a really fun experience.

Just wondering if anyone here has invested in any horses through the site and if you’ve enjoyed the experience to this point

My friend and I bought shares in a couple of horse's. It is fun to watch your horse run even if you have a small stake in it. We got to go into the winner's circle after one of them won for the picture. It's fun and we do not expect to make much money, but we can say we own part of a horse. Even if it is a small part of the hoof.

:ThmbUp:

Or a single mane hair. ;)

And best of luck to you Fightingirish51195 and your horse. Looks like great fun.

My daughter has one share of WinStar Stablemates for the past 3 years at an investment of $6,000 a year which involves 100 shares of a syndicate (club) that leases 10 fillies and mares for racing purposes only. She gets a check at the end of the year, but her return on investment has been negative each year. Worse thing is it's not deductible, because it's a "club," not a business.

Upside? She gets to get in the paddock/winner's circle as an owner when the horses show up at a track she can get to, plus she has a rooting interest in their success on the track.

I didn't know that. Are they all set up as "clubs" or just certain ones?

Just certain ones. You have to read the terms when you give them your $.

It's too bad the good old days of claiming a 5 to 10,000 claimer with 4 or 5 friends are gone. Trainer's put you on their badge list, and you would go to the racing office and get a parking and entry pass for all tracks. You could go to barn in the morning, track kitchen, and after races go back to the barn and check out your horse with friends. Stand around maybe have a few beers, and some laughs. You knew all the horses in the barn, the other owners, and everything about everyone's horses besides yours.



The end of year if you did a decent job claiming you showed a profit, and had a good time.


The sport has gone full circle from sport of Kings, where a little guy couldn't afford to be in the sport... to about 20 years where you could break even as a little guy... back to the sport of Kings where you can't afford to be in the game or you have to put up money for crazy schemes like the ones described here!!!

How is it a scheme?

Yeah exactly. It’s not a way to expect to get rich. It’s for the fun of it and if you break even in the end then great than that’s just a bonus really



Thanks man appreciate it. Looks well built for a 2 yo. Shoulder is a little small but has a nice hind quarter! Going to debut at Saratoga I believe

I am invested a few horses with the group and I've really enjoyed it so far. I actually bought shares and gave them as Christmas presents and people loved it.

I am also involved in the Churchill Downs Racing Club and quite honestly I don't know how bigger, non-profit clubs like CD will be able to compete with someone like My Race Horse.

CD's club was $500. The horses are nice, but cost around $50k versus $500k.with My Race Horse. With the CD club you can't make any money. With My Race Horse you at least have a slim chance. My Race Horse is much cheaper to get involved, they give you way more updates and you get winners circle pictures with both. Potential pre-race paddock access and daily tickets to CD is nice, but used so infrequently.

Anybody looking to get involved I would definitely suggest My Race Horse as a very cheap way to get started.

I am invested a few horses with the group and I've really enjoyed it so far. I actually bought shares and gave them as Christmas presents and people loved it.

I am also involved in the Churchill Downs Racing Club and quite honestly I don't know how bigger, non-profit clubs like CD will be able to compete with someone like My Race Horse.

CD's club was $500. The horses are nice, but cost around $50k versus $500k.with My Race Horse. With the CD club you can't make any money. With My Race Horse you at least have a slim chance. My Race Horse is much cheaper to get involved, they give you way more updates and you get winners circle pictures with both. Potential pre-race paddock access and daily tickets to CD is nice, but used so infrequently.

Anybody looking to get involved I would definitely suggest My Race Horse as a very cheap way to get started.

I should also add Gary P. is great for CD but the clubs have gotten to big and its just unmanageable to give every club the amount of info and updates originally promised.

I would not call it a bucket list item, but some day I would like to own a small piece of a thoroughbred. Mostly likely it would have to be a horse stabled at my local track Charles Town.

I do not have unrealistic expectations in that I know the possibility of making any profit is slim to none, even with benefit of the tax code.

For me to pull the trigger, I would need to:
--- Reasonably assess and understand all the planned and unplanned expenses
--- Identify a trustworthy and willing investment partner
--- Identify a competent trainer (who could also be an investment partner)
--- Have some discussions with my Tax Accountant to learn the legal requirements to maximize the tax benefits
--- Run some what/if scenarios in Microsoft Excel with budgeted expenses and possible race results (purse earnings), and determine if I can live with some of the worst cases financially. (In other words, how much "fun" money I am willing to part with.)

The above is not meant to be an exhaustive list of required activities but are certainly important. I also have a racing friend who has owned some horses (in partnership with some others), so that could help with some of the above.

And perhaps one final consideration, which could be an absolute show stopper..............securing my wife's blessings to do this! ;)

I assume because the horse being talked about in question here was bought for 500k in March & is then being sold right back to people at a value of 750k?

I don’t think that makes it a scheme. That’s public information. But they actually paid 51 percent. Believe they paid 255k and spendthrift paid the rest.

So assuming they sold all the shares on this specific animal which I believe they did, they got back 3 times what they paid

I was part of On The Mark Racing and Dragonfly Racing Club. I got the TOBA new owner of the year in 2008 with the run we had. We did extremely well in the claiming game (mostly Lone Star & Remington) and although we dabbled with some yearlings and had a couple runners we lost money.

The yearling game is a loser unless you have big money. The syndicates over charge you badly. If you want to have fun and make a little money, go the claiming route. Get a really good local trainer who buys into every one of your claims as a 20% owner. Get a group of friends to cover the other 80%.

Be aggressive in spotting your horses to win. You want a 25-30% win rate. You won't hold on to horses long but your cash flow will be good. You won't win a Kentucky Derby unfortunately but that's ok.