just curious

[lamboguy]

how many people here have either owned race horses, own them now, or want to own a horse.

and what experiences did you have good or bad in this game in respect to owning them?

i am just trying to figure out why there are so few owner's in the game today and what could be done to get the interest up

[Stillriledup]

It's very expensive and if you're a small timer, you have very little if any control over the management of the horse, where he runs, who rides him, HOW he's ridden, etc.

I would imagine people want full control when investing thousands of dollars, and there's very little.

Not everyone has thousands (at least) laying around of discretionary income they can toss into horse ownership.

[MonmouthParkJoe]

Always have wanted to and will one day. With the amounts I have wagered over the last couple years I could have easily purchased a few cheap claimers. I just have more fun gambling. At least I have a chance to win my money back

Most likely will purchase a 2YO in the future hoping for some upside. With a nickel claimer you already pretty much know what you are getting.

[macguy]

I had horses on and off about 10 years ago.
Very, very expensive for the average person (which I would consider myself.)

The bills (Vet, Farrier, Trainer, Raceday) keep coming in, yet (if you're lucky) you'll only have one or two shots a month to win some money.

I always liked buying yearlings training them and trying to get them to the races, because really anything can happen, you never know what you have until the horse hits the track. Problem is it seems like you're paying bills for months and months (even years) before your horse ever makes it (if they do) to the track.

I never saw too much point in claiming cheap horses, because they're running cheap for a reason, and I didn't think I was that much more special then everyone else, so I didn't figure the horse would start class jumping just because I claimed it.

Hell of a fun and addicting game to get into, but you've got to have a pretty good chunk of disposable income that you're willing to spend and likely not get any return on.

I decided it was cheaper (and almost as much fun) to go to the track and have a nice dinner or lunch and do some betting a few times a month instead of owning my own string.

[lamboguy]

i have been in the 2 year old business for many years now. my business play was to sell first and run only if i can't sell. when i was able to buy big horses for $25,000 or less the plan worked out pretty well. today those horses are now $50,000 as a yearling and you can't get to much more than that at sales.

so what i have done just to be in the game is buy a few smaller horses and pay less than $5000 for them. it cost me about another $12,000 to get the horse to the first race. everyone of them have broken their maiden's for $25k and $40k tags. but these are horses that won't sell in 2 year old sales no matter how fast they go down the straight away.

i have one this year that i am probably going to buy for $25k that is freakish after he was gelded and i might get a few partners in the horse. just because i think the horse is real good. he is by a first year stallion that stands for $1000 and the mare was a complete ZERO.

[VigorsTheGrey]

In reading the past performances of countless horses over the years I have been a fan I'm always struck how often I see new horses that were bred to top stallions for six figures starting in maiden claiming 50 and down never doing well and scratch my head and say wow! A hundred grand at a sale last year and now running for 40 k? How do they afford it? Race horses are like houses in California, too expensive. People launder money in real estate, and that has inflated the prices. I wonder how much money is laundered in horse racing buying and breeding race horses which might contribute to why they are so expensive to buy.

[Stoleitbreezing]

Originally Posted by lamboguy

how many people here have either owned race horses, own them now, or want to own a horse.

and what experiences did you have good or bad in this game in respect to owning them?

i am just trying to figure out why there are so few owner's in the game today and what could be done to get the interest up

I've been a minority owner in a partnership for the past 3 years or so. The first partnership I was apart of was one of those "no expenses" ever type partnerships. Basically the trainer said the horse was hurt and a "cash call" was needed to cover expenses. That horse I later found out was obtained by him free of charge due to a local breeder neglect. I only lost 400 in total after buying in for 2% and paying monthly $20 or so dollars for several months. Needless to say the horse had one official workout before he was retired. Lesson learned when it comes to that.

My current horse I obtained in January of 2014 as a 2 YO with a different partnership. This one has monthly assessments and a small management fee. They've been quite successful with their stock, including a career year last year. I bought in on the local filly for 4% for $800. Unfortunately she had nagging injuries and missed her 2 YO season. We finally had her first race in September of her 3 YO season, a MSW statebred race where she went off the post time favorite, raced in contention early on, then was not persevered with for some reason by our jockey to finish last. It was a very deflating result for basically a year and a half of anticipation and month after month of payments. She finished out her 3 YO season in the 15K MCL ranks racing 4 more times, finishing 5th, 4th, then 3rd twice.

Her last few races she's been fitted with blinkers to improve her focus and prevent her from looking around or cocking her head away from kickback. This along with a top jockey, she had her best finish last out finishing 3rd beaten a nose and a neck for all the money.

Now a 4 YO and her previous stifle injury long ago behind her, she's been training better than ever. Her workouts now are in the top 5 at the distance and she finally seems like she's turned a corner mentally to win a race. As a result I picked up 6% more to be a 10% owner after another partner wanted out. I can only hope that now is the time to "double down".

Her monthly statements range from 100 to 250 per month ($10 dollars per share at the farm to $25 per share in training) her most recent statement is $200 dollars something my wife and I can pay, but it gets hard depending on what other expenses we have. Collectively, with her initial buy in of $800 and all of the monthly statements I'm probably into this partnership for nearly $3,000. While its been a financial burden sometimes, it has also been a very positive and worthwhile experience. The communication/emails I get from the owner/stable/partnership manager are regular and honest. Each year i've renewed my owners license and gotten to see my horse at the track and on the backstretch. Our trainer is highly respected and willing to speak with me each and everytime I'm there. For that it makes it all worth it.

My horse is set to make her 4 YO debut this Thursday in hopes of breaking her Maiden. She's 4/1 on the ML and if her works and improvement from last year carry over and she fires fresh off the bench she should have a good shot of winning. Here's to hoping and a fun ride this summer!

[JohnGalt1]

After I retire, I would like to own a horse someday,

What else would I do with my IRA's?

[elhelmete]

Small participant in partnerships for 5 years. 5-10% type.

Have never made money. Usually get back about 20-50% of my initial buy-in. Sounds terrible, no?

Well here's the flip side.

#1...I love it. It goes hand in hand with the gambling aspect.

#2 I never ever expect to make $$, so there's no disappointment.

#3 My entire annual budget for major league sports tickets or TV packages = $0.

#4 my family and I get the barn thing, the meet a HOF jockey and trainer thing, etc. Corny? Well, yes. But we'd never get to do this in any other sporting arena, ever. When my 10yo daughter asks me to go see morning works at SA so she can get a hot chocolate and a donut and "maybe Mike SMith is there,"...well, that makes my day.

#5 Although not required by our partnership, I do get an owner's license at, I think, $250 for 3 years. That gives me (and spouse) free clubhouse admission, parking, program, etc. at SA, DMR and LRC. Add that up...yup.

[chadk66]

Originally Posted by VigorsTheGrey

In reading the past performances of countless horses over the years I have been a fan I'm always struck how often I see new horses that were bred to top stallions for six figures starting in maiden claiming 50 and down never doing well and scratch my head and say wow! A hundred grand at a sale last year and now running for 40 k? How do they afford it? Race horses are like houses in California, too expensive. People launder money in real estate, and that has inflated the prices. I wonder how much money is laundered in horse racing buying and breeding race horses which might contribute to why they are so expensive to buy.

I've owned, bred, trained and currently own a mare and a share in Kela. It never ceases to amaze me the price people pay for some horses at sales when there is absolutely no reason for it. The thing I'm also amazed at is how people are willing to pay so much money for a yearling just because it's by some fashionable stud even though the mare has nothing going for her on paper and wasn't a runner herself.

[chadk66]

Claiming is the best way for new owners to enter the game. yearling/two year olds is the kiss of death for them. nothing gets rid of new owners faster than buying yearlings/two year olds for their first horse.

[Saratoga_Mike]

I second Chad's comments.

[Ruffian1]

I third it.

[elhelmete]

I'd think something this progression is reasonable:

1) low buy-in local syndicate/partnership
2) partnership with one or two others (incl. trainers who keep a piece) on established claimers
3) ditto, with private purchase horses-in-racing
4) and on up

[chadk66]

here is a very interesting scenario that played out in MN during the early days of Cby. Everybody wanted to be an owner but nobody wanted to invest much. So a lot of limited partnerships were put together. The money was used to buy one let's say half a dozen horses depending on the money in the kitty. One particular partnership had twenty people in it. Had 200K in the pot and they bought three horses. One for 100K, one for 60K and on for 40K. Needles to say none of these horses panned out. The 100K horse was a grade one stakes winner in Argentina (argentina bred). He suffered serious health problems when he came to the states. Over the course of two years he ran numerous times and ended up running for 5K and had no wins. The problem was, all these partners were silent partners. Not even listed on the registration papers. The horses ran under the bloodstock agency that had put together the partnership.

I happened to be training other horses for one of these silent partners. He was pissed this horse was doing so poorly. So he had me claim him for 5K. Long story short, the horse was a mess. Washed out like no horse you've ever seen. I had to completely re-train this horse mentally. Train him like they do in Argentina. Well after a couple months I felt he was ready to run. He won for fun for 10K, then for 20K. Ran second on the turf by a neck and the winner broke the track record. He turned out to be a solid horse but he was extremely unhappy at his old barn.

Moral of the story is these types of partnerships can ruin owners too because they loose any control. So it's kind of a chess game and def. give and take.