From the fun of the occasion to cheering on a roughie, there's something about horse racing that's fundamentally Australian - including the fact that everyone can get involved.
What makes racehorse ownership in Australia so exciting is that champions can come from anywhere, and anyone can own them. And even if your horse isn't a champion, owners will tell you that it makes no difference - it's all about the journey.
One of the greatest myths about racehorse ownership is that it's difficult and expensive to get involved. It's not. And, most importantly, owners come from all walks of life, many with no previous connections to racing.
Owning a racehorse is not confined to multi-millionaires. There are many ways to become involved in racehorse ownership in Queensland and become involved with the industry. The purchase and ongoing costs of a racehorse can be very affordable and the joy you get from being involved in the industry, not just a spectator, is immense.
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There are several forms of ownership available that cater to all budgets:
- Sole ownership: Owning a horse outright gives you the chance to receive 100% of the owners prizemoney, name the horse and race it in your colours. You will also pay for 100% of expenses but have the benefit and flexibility of decision making and direct communication from the stable.
- Partnership: When you race the horse with up to twenty family members, friends or stable clients and share the thrill of ownership for a percentage of the cost and prize money. You can appoint one owner as a manager to handle communications and accounts with the trainer or this can be done individually.
- Syndicate: Registering a syndicate with your friends and family (up to 20 people), and the Syndicate then owns a share in the horse. For example you and your workmates might form a syndicate that has a 10% share in a horse. The nominated Syndicate Manager would be responsible for all communication to the syndicate members from the racing manager or stable directly, and in charge of the distribution of the syndicate’s share in prize money.
- Promoters & Syndications: Owning a horse purchased through a licensed promoter means you will own a share in the horse with a group of people and share the thrill of ownership for a percentage of the cost. There is the added benefit of legal documents (PDS) which include publicly disclosed details such as all costs and vet checks, and a signed partnership agreement outlining the procedures for managing the horse, such as how to vote on the horse name, how to distribute trophies and how to manage disputes. A registered Syndicator must hold a license with the Australian Securities Investment Commission (ASIC) and is licensed to publicly sell shares in a racehorse. The Syndicators offer Product Disclosure Statements (PDS’) which are approved by the local regulator (Queensland Racing Integrity Commission) before being offered to the public. List of Queensland Approved Promoters
Lease: Leasing a horse can be a cheaper option to experience horse racing. You can lease a horse with your friends and family without purchasing or owning the horse. The Lessee pays for all of the training fees and associated costs, keeps a percentage of any prizemoney won, and returns a percentage back to the owner (typically 20-30%).
Before purchasing a horse, make sure you give some serious thought to this commitment.
Lay out your objectives from the start and set yourself some achievable goals to help you plan your journey. Determine how much money you can afford to allocate to horse ownership, which will help you work out the way in which you'll be able to participate.
The next decision, if buying a share, is if you want to take a small share in a more expensive horse or a larger share in a cheaper horse. The size of your share will also dictate the monthly or regular costs to maintain the horse.
Once you've decided how much you want to invest, you will need to establish a budget. This budget will need to consider not only the cost of purchasing the horse, but ongoing expenses and unexpected costs that may occur (unless you purchase a miRunners share then the cost is consistent each month).
When considering the amount you want to spend and the relevant percentage, you will need to allow for the additional costs involved in the purchase of the horse, such as vetting, transport, agistment, insurance etc. and any commission charged by a trainer or agent.
How much do you want to spend? Use the Ownership Calculator below to find out the approximate cost of ownership, depending on the size of your share in a horse. Please note that these costs are estimates only and while the estimate includes all the typical costs outlined underneath the Calculator, it excludes major nominations and any surgery. The cost estimate generated is indicative only and due consideration should be given to your specific circumstances.