Why Do / Don't You Own a Racehorse ?

[Vince P]

Like many of us in here, over the years I contemplated purchasing, claiming or even going into a small partnership of a racehorse. But again, like many others, I had other financial priorities, i.e. daughter's college, house, paying off my CashCall bookie, etc.

But eventually and before I reach Joel's or Bob B's age, I would like to own a racehorse because I love horses and would really enjoy going to the winner's circle with very own instead of being a proxy for other owners as I have done many times.
Let's list reasons why or why not, we want to/already own a racehorse:

Here are mine:

Why I want to buy a race horse:
1. Racetrack fun and thrills if she wins
2. Having another wonderful pet who understands me that I can talk to and visit whenever I want
3. Bring friends around the track to watch her run and possibly get them into the game
4. Great reason to go to track in early morning hours and enjoy the setting
5. Bragging rights if she wins
6. Involve my wife/family more in the game
7. Possibly keep her as a riding horse when her days are over


Why I don't want to own a racehorse:

1. Expense - 99.9977% of the time owning a racehorse is a financial drain
2. Realistically, can’t think of any other reasons why not, but I'm sure many people in here who have owned racehorses and experienced the ups and downs, can expand more.

Your reasons......................

Thanks,
Vince P

[Igeteven]

I would like to own one, but here is the main reason


$4,500 per month per animal. ( even with horsemen races, one generally loses overall)

I could afford to buy one out of State, however, I would like to go to the track and watch him run.



I could get one at Los Al, however, the purses are low and the training bill are high to match the purses.


The investment is not there for the average guy who needs a tax write off.


I can hardly wait to see Al's A response to this thread, because he owns horses.

[Mtholly1]

Tax write off for 2013 brought back - http://www.forbes.com/sites/teresagenar ... se-owners/

[Igeteven]

Tax write off for 2013 brought back - http://www.forbes.com/sites/teresagenar ... se-owners/

One must have money , at least 75 grand to back up a horse for a year. Remember one is paying a trainer out here $4500 per month and anything else that come along.

Plus this is for the rich, not the average guy who make 40-80 grand a year.

Years ago, when I was making huge money, I could have afforded this. but the contract ran for only 2 years and I was out.


the tax break looks good, but not for the person who owns 1 or 2 horses.

[Ocala Mike]

Tried the breeding business for a few years, and went bust.

The way to get a million bucks in horse racing is to start out with two million.

[Claimboxx]

I would like to own one, but here is the main reason


$4,500 per month per animal. ( even with horsemen races, one generally loses overall)

I could afford to buy one out of State, however, I would like to go to the track and watch him run.



I could get one at Los Al, however, the purses are low and the training bill are high to match the purses.


The investment is not there for the average guy who needs a tax write off.


I can hardly wait to see Al's A response to this thread, because he owns horses.

Being that I have owned many horses in the past, I can assure you I have NEVER paid anywhere near $4500 a month in So. Calif to train a horse. I have had top trainers, and it has never been remotely close to that amount. Since I know you have NEVER owned a horse Lester, why don't you defer to those who have....

[Reallyquiet]

I have aroud 6-10 claimers in the mid-atlantic.I pay roughly 2,300$ a month per.Since 2002 Ive made positive money every year thanks in VERY large part to the over-inflated purse structure at Philly and Delaware.Honestly,I dont understand why others dont do it.However,this gravy train aint gonna last forever as Harrisburg is already talking about next year being the end of subsidized racing as we've known it.

[Crazykid]

I would like to own one, but here is the main reason


$4,500 per month per animal. ( even with horsemen races, one generally loses overall)

I could afford to buy one out of State, however, I would like to go to the track and watch him run.



I could get one at Los Al, however, the purses are low and the training bill are high to match the purses.


The investment is not there for the average guy who needs a tax write off.


I can hardly wait to see Al's A response to this thread, because he owns horses.

Being that I have owned many horses in the past, I can assure you I have NEVER paid anywhere near $4500 a month in So. Calif to train a horse. I have had top trainers, and it has never been remotely close to that amount. Since I know you have NEVER owned a horse Lester, why don't you defer to those who have....

he said he owned several horses that he ran in chicago

[Reallyquiet]

Does anyone out west know what the per diem of most good trainers are? Here,it is roughly $70-$90 a day.

[Claimboxx]

I would like to own one, but here is the main reason


$4,500 per month per animal. ( even with horsemen races, one generally loses overall)

I could afford to buy one out of State, however, I would like to go to the track and watch him run.



I could get one at Los Al, however, the purses are low and the training bill are high to match the purses.


The investment is not there for the average guy who needs a tax write off.


I can hardly wait to see Al's A response to this thread, because he owns horses.

Being that I have owned many horses in the past, I can assure you I have NEVER paid anywhere near $4500 a month in So. Calif to train a horse. I have had top trainers, and it has never been remotely close to that amount. Since I know you have NEVER owned a horse Lester, why don't you defer to those who have....

he said he owned several horses that he ran in chicago

Kid, do you really BELIEVE that he has?