Thursday, February 12, 2015

Information On How To Own A Racehorse

By Janine Hughes

Owning a racehorse is an exciting venture. Many people are interested in this industry but some are held back because they do not know how to go about it. With the right help on how to own a racehorse it will be easy to overcome the common challenges. You need to get in touch with the right people who will offer useful information. The following tips are helpful for anyone who is interested in this venture.

Buying and maintaining the equine is not cheap. You need to be ready to meet all the expenses associated with owning these animals. It will help you to plan properly if you are clear on the costs involved. Consult an experienced horse trainer to get all the information you need to know about the animal and how to look after it.

When you invest your money, you need to be clear on why you are buying the stallion. There are various types of races your animal can take part in. Being clear on the direction of its racing career will help you to prepare it appropriately. Poor preparation is expensive as the prizes in horse racing go to the top five positions. For proper preparation you need to have a properly assembled team.

The team you assemble should include a trainer, jockey and bloodstock. The work of the jockey is to ride the horse when racing. Unless you are qualified for horse racing, you have to hire a professional. A trainer who also doubles as a vet will equip the animal with skills required to win races. Finally, bloodstock is a person who buys or sells horses and is paid a commission. This person is useful when buying the stallion.

If you are more cautious, you can own a stallion with other investors. Through a partnership, you own only a share of the animal. Therefore, you will enjoy just a share of earnings equivalent to your investment. Your expert can help find other people you can form a partnership with.

As an owner of a racehorse, you need to have a license that will allow your mare to take part in races. Licenses are issued to these people who meet certain conditions. The necessary conditions are different in each state. You need to be sure of what is required in your state.

Register your stallion with the local Jockey Club. A record of the registration should be maintained at the track offices during the time the stallion will be active. Details available on file include name of the animal, physical description, pedigree among other information.

Horse racing is an enjoyable and profitable venture. However, in order for you to start enjoying the returns of your investment, the horse has to perform well at the races. Prizes are awarded to the top five winners in every race. Therefore, you need to select a trainer who will ensure your animal will always do well on the track.

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