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It is Tuesday the 13th and I never thought I would write about this subject because it has been like a cancer for me. I opted personally to put it into remission with the hopes of it never coming back.

When I talk about race horses, I want to be specific and discuss the ownership of Thoroughbred Race Horses.

As a previous owner of several, I can personally attest to everything you are about to read in this first chapter. It will ultimately be up to you to decide what is true and what is not true, but I want to be clear that this comes from personal experience, which some of you out there will no doubt agree.

Today I am going to talk about the real truth about the thoroughbred race horse game. It is not for those trying to find a way to make a little bit of money or additional income. If it is a passion, well I hope you have either a strong stomach or a very deep pocket book. This sport is called the Sport of Kings for a reason and we will get into that over the next few articles.

Starting in the Game:

If you are new to the game, do not and I re-iterate do not buy a yearling (a 1 year old horse) to start. Depending on the amount of money you wish to invest, start off in what is called the Claiming Game. This is where you actually buy a horse that is of racing age or 2 years old and up. This way you will have many opportunities to pick and choose from. Now of course, you will need a Trainer and it his/her responsibility to help you select that horse as it is presumed they are the experts at what they do and should know how to pick the appropriate horse? Right

Well not really! You see, a trainer is like you and he or she is a trainer to make money as such. Their job is to attract buyers that they can train for and in the end try and make more money from purse (racing prize) revenues. What they do not explain to beginners is that the average trainer will have an average win rate under 10%, which means that your horse will win 1 in every 10 races it is entered in. Since 60% of the purse goes to the winner that is really where the money is, so let's not get fooled into thinking we can get rich at this.

So back to the trainer, the person that you will only choose once you have done an in depth study on who you were going to pick. Do not pick a specific trainer because he has a low daily rate, pick your trainer based on his statistics over the past 5 years. This will include WIN, PLACE, SHOW and 4th place money earnings.

You will also want to be sure that your trainer will treat the horses as if they were his own and one way to do this is to offer a % of the horse to the trainer, this will help ensure that your best interests are his/her best interests.

Now provided that you have selected your trainer, it is time to work on buying that first horse in a claiming race. Take the time with your trainer to determine exactly what your budget is to buy that horse and then calculate to about 90% what your monthly training expenditures will be for the racing season.

What I mean by this is calculate everything first to figure out what you can spend in claiming or you will end up with the shock of your life.

Total Budget:        $25,000

Racing Expenses:  $27,000 (Training & Vet Fees) per per racing season

Summary:  

You cannot afford to buy a race horse. The minimum claiming races usually start out at around $3,000 and that is not big time race horses. If you were to look at race horses at Belmont, Churchill Downs, Santa Anita, Woodbine and several other major tracks, claiming would be closer to the $10,000+ range.

So I have based my calculations on that and since you already have a net shortfall of $2,000, you have the option to forget about it or increase your budget to $37,000. I hope you get the gist of what I am trying to say.

I will continue on with this subject in the next day or so, but if racing is something that you are considering and you are on a set budget that is not like those of Kings, you will want to read this further.

Talk to you all again soon!


Street Talk

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