Being an active part of the thoroughbred racing scene is surprisingly easy to do, and with different forms of ownership, including syndication, it caters to every budget.
Owning a thoroughbred can be done as an individual, in a partnership or with a group of people (friends/workmates/ sporting team mates) in a syndicate, or you can lease a horse.
Making the right initial decisions and having a touch of good fortune are important, so here is some helpful advice to get you started on the right path to becoming an owner
If racehorse ownership sounds exciting but you’d rather reduce your cost outlay, then syndication may be the answer for you.
Racehorse syndication will give you a lesser percentage share in a horse, (or horses) and the selection of the horse, trainer, jockey etc. can be left up to the professionals (either the Syndicator or the manager of the syndicate).
Being involved with a racehorse syndicate can be a nice way to get a feel for the racing industry giving you a share in a race horse without having to bear the full cost of all of the bills.
Racehorse syndication also presents the opportunity to make some great new friends while following your horse. Many syndication groups co-ordinate social events for their members and encourage the large groups of syndicate members to meet up and cheer on their representatives on race day. A lot of syndicates are enjoyed together by workmates, team mates, family members and friends.
Syndicates normally have 10 – 20 members and need to be registered with Racing and Wagering Western Australia with a representative or Manager appointed.
The Syndicate Manager is responsible for overseeing the finances of the syndicate, and is expected to report to the fellow members on a regular basis. Any prizemoney earned by your racehorse is sent to the Syndicate manager to be distributed to the syndicate members.
Nowadays most syndicates have their own website which allows all members the opportunity to keep up to date with the horse’s progress via a newspage. It would be impossible for the trainer to contact the entire syndicate by phone but by maintaining the website everyone is aware of where the horse is at in its preparation.
REGISTER YOUR RACEHORSE SYNDICATE HERE
Prior to offering individual shares in racehorse syndicates/partnerships, promoters of such must be approved by RWWA and recorded on the Register of Approved Promoters.
APPROVED PROMOTERS OF RACEHORSE SYNDICATES IN WESTERN AUSTRALIA
Leasing is effectively ‘renting’ a racehorse from an owner for a specified period of time and obviously does not involve an upfront purchase fee. The term of the lease will see you pay all costs associated with racing the horse along with an agreed ‘leasing’ fee which may include a percentage of prize money earned. Breeders and trainers lease racehorses they wish to retain ownership of, often for breeding purposes while keeping a small interest in their racing careers.
FILL OUT THE LEASE FORM HERE
Partnerships allow you to share in the excitement of racehorse ownership with work colleagues or friends and split the costs. Up to 20 people can jointly race a horse.
Being a sole owner of a racehorse means you reap all the rewards, but also carry all the costs. You have total control over the key decisions and will generally deal one-on-one with your trainer.
Being a racehorse owner also earns you the right to appear in the winner’s circle after the horse’s wins so you can appear in any winning photos with the Jockey, Trainer and Horse.
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