It used to be that only the wealthy could own a racehorse, but that’s no surprise when you consider the enormous costs involved in training, feeding and keeping a horse. That was all in the past. Today, the formation of syndicates to own and raise horses has made that assumption totally false. You too can now be a part-owner of a racehorse, enabling you to join in on the excitement and fun of being a member of the horse-racing world and share in the possible winnings with a very affordable investment.
The first step in the UK for joining a syndicate for horse ownership is to get in touch with the British Horseracing Board (BHB) at 0171 3960011. The BHB provides you with advice on the process and can give you lists of ownership syndicates who are accepting members. You can select a club from these lists or you can decide to join the other two hundred members of the club at Royal Ascot, such membership giving you grandstand and clubroom access. No matter which you join, you will have to register with the Jockey Club. It is also possible that friends can come together and form their own syndicate to own a racehorse, but there are still horse ownership regulations to follow.
One criteria you should follow in selecting a syndicate to join is the mutual feeling amongst the members about working together on their investment and your own feeling on how well you fit in. The more members there are in a syndicate, of course, the lower the cost per member — however, that also means lower amounts of any shared prize money for everyone.
The great hope is that the horse owned by the syndicate will win and return enough cash to pay its own keep. Though there may not much cash beyond that break-even point, there is still the pride racehorse owners feel when seeing their magnificent animal in action on the track.
Horses are the epitome of a finely tuned athlete and upkeep costs reflect that fact. Costs of equipment and supplies, vet bills, feed bills, training fees and stabling fees all mount up. Racehorses require a high level of maintenance if they’re meant to be a viable competitor in the racing world. Becoming a part of an ownership syndicate does mean that the financial burden is shared — find out what your share will be before you sign up.
A share in a syndicate of horse ownership can vary from hundreds to thousands and, ranked as an investment, the ownership of a racehorse is considered very risky. Because of the financial amounts, a discussion with your accountant may be in order to see if you should structure your entry into a racehorse ownership syndicate as a business investment for which it may be possible to claim related expenses or losses as tax deductions.
One decision to be made early on is whether to invest in a jumper or a racer. A jumper may be somewhat cheaper than a racer. Whichever type your syndicate chooses, find out as much as you can, including getting advice from the horse’s trainer and medical reports from a vet. You’ll want the answer to questions about injuries, race record, age and cost of upkeep.
The one thing to remember is that you get no guarantee that you’ll be buying a winner, but research is an excellent way to start. With good fortune, you’ll soon be sitting in your private owner’s box watching your horse race to victory. The proud feeling you’ll get from that moment will more than outweigh any financial worries you may have had along the way.
Filed under: Purchasing A Horse
A horse is a powerful, living, breathing creature, not a motorcycle or four-wheeler. Therefore, if you are in love with the idea of having your own horse, it is important you start at the beginning to avoid potential harm to yourself and the horse. The beginning is not in the saddle, but rather learning horsemanship first, before setting out for a ride.
Before even considering taking on the responsibility of caring for a horse, you have to know how a horse thinks, acts and responds. You have to know how to become a herd leader. Too many first-time horse owners underestimate the responsibility the rider has in the relationship with the horse. The horse is not going to do it all.
The first step in understanding how to buy a horse is not how to ride it, but to learn what a horse is.
Before making a purchase, there is a lot for a first time horse owner to consider. Horses require a lot of time and money. Be sure you understand the level of commitment required to maintain a healthy horse.
With that said, there are many horses for sale and there are a lot of scams and lemons to avoid.
So, how do you go about finding that perfect horse? Here are a few tips on how to buy a horse without ending up with a lot of regrets.
Understand the Cost
Be very clear that committing to the ownership of a horse means a sizeable monthly expense. It could cost as much as $500 each month for basic food, board, vet and farrier bills.
Get Educated
If this is your first horse, be prepared by taking riding lessons and helping out around a stable. This will provide the experience necessary to understand the various aspects of horse care. Talk to a vet and get sound advice on boarding, feed and exercise.
Be Prepared
Realize that owning a horse also means owning the necessary tack, riding clothes, grooming and cleaning supplies. If the horse is kept at the home, they will need the proper shelter, room to run and feed. Any grazing area should be checked for toxic plants. If you don’t know how or don’t have the time to care for a horse, look for a boarding facility that can give the horse the proper care and allow you to learn horsemanship basics.
Find an Expert
Having the experience of a professional, a horse trainer or breeder, can help with the search and final decision. Frequently a fee is involved, so make sure they are trustworthy by asking for referrals. If a professional is not available, ask a horse friend or lesson instructor to help you find a good horse to purchase. Frequently, they are familiar with reputable horse breeders in the area. Always remember that humility is an important aspect of the process of getting advice from those more experienced. There is always something more to learn.
Define the Relationship
Why do you want to own a horse? What kind of relationship do you envision? Is your horse primarily going to be your companion or is riding your main interest? There are organizations all over the country who rescue horses. If you primarily want a companion, a rescue horse would welcome a loving home.
If you are mainly interested in riding, take lessons in English or Western to determine which style fits your interests.
The First Visit
Before visiting, ask your “expert” to make out a list of questions to ask the owner about bad habits, bucking, rearing, kicking, training, etc.
Once you have located a horse you are interested in, schedule plenty of time with the owner and your “expert” so you can evaluate the horse’s abilities. Ask the owner to bridle the horse, saddle him, and put him through all the paces. Then your “expert” should have a ride followed by yourself.
If you decide you have found the perfect horse, schedule a pre-purchase exam for the horse. Inform the vet what you plan to do with the horse so they can do the right examination. If for some reason the owner does not want the exam done, start looking elsewhere.
Legal Stuff
If everything checks out with the vet exam, you will need to provide the owner with a bill of sale to sign. If it is a registered horse, the seller should provide registration papers at the same time the bill of sale is signed. Once signed, a Transfer of Registration form from the seller is necessary so the ownership can be changed into your name.
Homeward Bound
Once you have your horse moved to its new home, take time to help it become familiar with the new surroundings. Keep it in a secure pen or stall for a few days to get used to any other horses and the area. If in a pasture, introduce her to other horses with a fence between them before putting them in together. Lead them around the perimeter of the fenced area so they become familiar with the location of the fencing to avoid running into it if they get spooked.
Do not expect the process of learning how to buy a horse to be easy. It could take as long as a year to find just the perfect fit. In reality, no horse is perfect, just like no human is perfect. There will be problems even if you follow advice from the best authorities. However, you can expect to have a fulfilling and enjoyable life with your new friend, as long as you have done your “homework” and are committed to this amazing creature.