How much money do you need to own a race horse?

[manny24]

is Kinger going on horse MOD ballot or not?

[SBR Tony]

Not sure how you figure this. Five of eight races this coming Wednesday at Canterbury have a purse $12,000 or less. At 60% to the winner that's $7200-$720 to jockey and trainer =$6600 in winnings. A horse would have to win 7.5 races to get back $50,000 in expenses.
Not many horses win 7.5 races a year, and due to soundness issues a lot may not even race that many times, or not even make it to the races at all.
I spent six months owning 10% of three horses which cost me $2800 in expenses and I got back a whopping $280 in purse money.
In my book there's not much worse for the bankroll than gambling...But owning horses is certainly one of them.

this is correct

if you're going to be racing at Canterbury, it won't be worth the trouble. You won't make much racing for $12k purses
But of course racing there won't ( or shouldn't ) have the same cost as racing in NY/NJ/FL, etc.

in NY a $25,000 claimer goes for $45-49K, if you can pick up a few checks, you can squeeze out some profit a few months

[garyking]

Yes, I've always believed if you're going to own a horse it's better to buy a more expensive one. Maintenance costs are relatively the same so better to go for the higher purses. The gist of my posts of course has been that if you go in looking for some entertainment and as a hobby and are are willing to lose some money as an owner no problem. If you're going in looking to make money you're in the wrong game. I've always though horse ownership is like most types of gambling..in any given year (or day even), 10% make money and the other 90% lose.

[2daBank]

I honestly think this guy is the real deal

He certainly seems to know his stuff on the subject. He either being honest or has researched enough to be a good liar! lol. I believe him! Refreshing!

[TheMetsSuck]

Nickname could be:

All guts, no glory

All glue, no glory

[garyking]

No reason to lie. I've been around horse racing since my dad started taking me to the track at 16 (I'm 56 now). My dad has owned horses for at least the last 25 years. With respect to the gambling portion at the track, I've had some hot times over the years, but overall I fully admit I've lost my ass (LOL). As I posted earlier I've done fairly well since switching to online horse contests over the last couple of years. In that case you're putting up a small amount of $$$ for bigger returns, which to me is always the situation you want to get into while gambling.

[2daBank]

If you hadn’t noticed Gary there a lot of storytellers around here. You don’t strike me as one tho.

[garyking]

If you hadn’t noticed Gary there a lot of storytellers around here. You don’t strike me as one tho.

Yeah you're right about that 2daBank. I guess there are a few around here. I know there's not the usual amount of gambling opportunities going on right now. But under normal circumstances I'd rather be spending my time gambling (LOL) rather than on a forum telling stories.. Is it possible the ones telling stories are those who have run out of gambling money??? LOL....

[2daBank]

Telling stories cool, just better when they actually true! Lol

[garyking]

LOL

[johnnyvegas13]

I would imagine u wanna raise a lot of them

not just one or two

[2daBank]

I would imagine u wanna raise a lot of them

not just one or two

I’m in negotiations to buy one leg and one nut Johnny, bout all I can afford!

[dark star]

Do it Paver!!!!

[mjsuax13]

Wouldn’t our horses moderator know anything about this? Yeah right. He can barely keep the electricity on.

[gauchojake]

rudy your horse is running in oz in 15 minutes

1	2M/L:[COLOR=rgba(0, 0, 0, 0.5)]7/2[/COLOR]	Ruettiger 1 9 G Duporth - Be InspiredS P Brunton			-	Scott Brunton	132	Kyle Maskiell

[manny24]

Telling stories cool, just better when they actually true! Lol

Banker Mr Racer is a no pvssy getting well documented liar but mildly amusing for a mental midget

[str]

And I'm not talking about the money you need to just buy a race horse. I'm talking total amount of money that includes training, feeding, vets, entry fees, etc.

Will $100,000 last for a year or do you need more?

Short answer is yes, but rates and expenses can vary greatly depending on where you race , purse structure, etc.

[RudyRuetigger]

rudy your horse is running in oz in 15 minutes

1	2M/L:[COLOR=rgba(0, 0, 0, 0.5)]7/2[/COLOR]	Ruettiger 1 9 G Duporth - Be InspiredS P Brunton			-	Scott Brunton	132	Kyle Maskiell

I was probably passed out by then

and if i was posting, i was definitely still passed out

i assume we lost???

[2daBank]

Banker Mr Racer is a no pvssy getting well documented liar but mildly amusing for a mental midget

I was referring to mr Garyking. 1st post of his I recall reading, seems like a straight forward guy. Would like to hear some his takes on races! Of course I really only bet the ponies when super bored and they happen to be on!! Or of course going to the track across the river in Illinios which obviously hasn’t been happening and prob won’t be anytime soon . 1st summer I can remember with no trips to “party at the park”. Such a bummer, that a good time!

[gauchojake]

I was probably passed out by then

and if i was posting, i was definitely still passed out

i assume we lost???

yup

[RudyRuetigger]

yup

par for the course

[manny24]

Short answer is yes, but rates and expenses can vary greatly depending on where you race , purse structure, etc.

STR'r has a major clue

[biggie12]

Peavy from March to beginning of July we lost. 77k Canadian because of covid.

u can certainly start with 100k depending on how much you claim a horse or get one at auction for.


On the lower end it will cost you around 5-10k a month to feed and train and house horse. There is lots of extra costs involved if horse isnt staying at track stable including transportation fees ... Will have to have them on farm during off season racing months.

It is not a cheap investment. And you need to always be prepared to have extra expenses month to.month.


Or you could be really unlucky like my team was a couple years back we claimed a 70k horse.... 16 days later he ran his first race. injured leg and was put down. Sad day.



standardbred are cheaper to own. less In purses tho

[garyking]

I was referring to mr Garyking. 1st post of his I recall reading, seems like a straight forward guy. Would like to hear some his takes on races! Of course I really only bet the ponies when super bored and they happen to be on!! Or of course going to the track across the river in Illinios which obviously hasn’t been happening and prob won’t be anytime soon . 1st summer I can remember with no trips to “party at the park”. Such a bummer, that a good time!

Thx for the kind words 2da...I'm not handicapping N.A. races at the moment, but do play Australian race contests on a nightly basis, and have had a lot of success. I don't know if there's much interest in Australian racing here, but would be willing to start posting my selections if anyone is interested in betting the land of OZ.. Your words remind me of when i was in my 20's and I had about 15 friends who attended the races every day...Now, even before covid I could go to the track and didn't recognize a person there...

[pavyracer]

Thanks guys for the advice. I'm having second thoughts now after biggie12 said the horse could get injured and lose all your money. Can you buy life insurance for a race horse?

[biggie12]

next yearling sale will be in September at woodbine if your interested.

[biggie12]

Thanks guys for the advice. I'm having second thoughts now after biggie12 said the horse could get injured and lose all your money. Can you buy life insurance for a race horse?

you can buy insurance but it wont cover you if horse gets injured in race. so short answer NO

If your really interested you should start off by buying a part of a horse with someone already in the business you wont have to worry about finding housing trainers etc etc.

that is how I started out now we have a team of 8 of us

[SBR Tony]

you can buy insurance but it wont cover you if horse gets injured in race. so short answer NO

If your really interested you should start off by buying a part of a horse with someone already in the business you wont have to worry about finding housing trainers etc etc.

that is how I started out now we have a team of 8 of us

why can't you buy mortality insurance anymore?
I've been out of the game for some time now, but you were able to buy mortality insurance to cover you

Now I know it's better to do this on your better horses, and not some $20,000 claimer
we only bought it on 3 horses in my time in the game, because the 3 were good sire stakes horses


also wanted to note it's not cheap, 4-5% of the value of the horse

[Plaza23]

Horse racing is the biggest oligopoly in the US. Only a couple of farms breed the best horses. If you are an upstart farm, you have maybe a 1% chance of ever making profit. That doesn’t only include upkeep, training, breeding.

All the money in horse racing is in stud fees, and when you have only 2-3 breeders that have access to the best lineage, you aren’t going to be able to break into that.

I’d never invest in horse racing. It’s for wealthy people that don’t mind losing $$$.

The chances of buying a cheap horse, that becomes a champion, and then the owner gets future stud fees, are extremely low.

[biggie12]

why can't you buy mortality insurance anymore?
I've been out of the game for some time now, but you were able to buy mortality insurance to cover you

Now I know it's better to do this on your better horses, and not some $20,000 claimer
we only bought it on 3 horses in my time in the game, because the 3 were good sire stakes horses


also wanted to note it's not cheap, 4-5% of the value of the horse

it's much more expensive then that now in canada. Not worth it... still available tho

[str]

why can't you buy mortality insurance anymore?
I've been out of the game for some time now, but you were able to buy mortality insurance to cover you

Now I know it's better to do this on your better horses, and not some $20,000 claimer
we only bought it on 3 horses in my time in the game, because the 3 were good sire stakes horses


also wanted to note it's not cheap, 4-5% of the value of the horse

It was 8% 25 years ago on the east coast.

Only covers death and THEY do an autopsy to determine if the horse could have been saved.

Terrible investment unless you are talking about a very high end horse.

[jjgold]

Horse racing is the biggest oligopoly in the US. Only a couple of farms breed the best horses. If you are an upstart farm, you have maybe a 1% chance of ever making profit. That doesn’t only include upkeep, training, breeding.

All the money in horse racing is in stud fees, and when you have only 2-3 breeders that have access to the best lineage, you aren’t going to be able to break into that.

I’d never invest in horse racing. It’s for wealthy people that don’t mind losing $$$.

The chances of buying a cheap horse, that becomes a champion, and then the owner gets future stud fees, are extremely low.

It is only for the rich, you cannot break in

They love suckers that come in and invest

[biggie12]

It was 8% 25 years ago on the east coast.

Only covers death and THEY do an autopsy to determine if the horse could have been saved.

Terrible investment unless you are talking about a very high end horse.

STR is sharp