Quote:
Originally Posted by Jeff P
I think a lot of buyers spending six or seven figures for horses at auction aren't in it for the money. They've already made significant money from businesses endeavors outside of racing.
I think a lot of them aren't all that different from many of us here at Paceadvantage. Quite a few of them were horsesplayers who developed strong ties to racing somewhere along the way.
And now that they have significant money... It isn't about the money.
I think it's about stepping up to the plate, taking a shot, having fun, and maybe catching lightning in a bottle.
-jp
.
|
I've heard this argument before and understand it.
I own a small piece of a couple of horses now. I went into it expecting to lose a few dollars, but I considered the fun of it "with a kicker" to be worth it for me at this stage of my life. I'm one notch above the guy that knows lotto is a losing proposition but plays big days anyway.
I have a way tougher time understanding throwing around millions, 10s of millions, and maybe even 100s of millions over time no matter how much you have. I guess if you are an oil sheik nothing matters, but I'd be willing to bet a lot these guys have lost a substantial chunk of their net worth on horse racing lotto tickets by vastly overpaying and imo it's not helping the racing aspect of the game.
