Many horse racing enthusiasts have a drempt of becoming an owner of a thoroughbred. In mind, your horse would be a winner, perhaps the best horse ever to have raced. That’s what dreams are made of.
Personally, I have had similar thoughts.
However, owning a horse is very expensive. Buying a thoroughbred can cost from £1000 to several million. But what about the horse trainer fees and costs of looking after your horse. It is more expensive than you may imagine. In fact, it is probably £25,000 per year. So to purchase of a relatively cheap horse (£5000) and training fees could well cost £30,000.
This wouldn’t be such a bad idea if the UK prize money was better. Compared with many countries (France, USA, Hong Kong, Dubai) UK prize money is poor. An average race is worth about £5,000. And the stable take a percentage and does the jockey so a winning effort amounts to a minimal return. It is a sobering thought to realise that most horses don’t win. Very few horse win enough prize money to cover their costs. That is why racehorse ownership is best viewed as an expensive hobby.
For that reason, horse racing syndicates have become popular. It is a way of negating high costs making ownership more affordable. Syndicates may range from four or five to vast numbers of members. Also, the cost of each syndication can vary from a few hundred per year to tens of thousands if not substantially more.
The good side of being part of a syndicate is that it is more affordable. The negative is that you will potentially win less money and have less access to trainers and often little to no opportunity to visit stables, watch horses on the gallops and have that one-to-one relationship with the trainer or make plans for the season ahead. Most syndicates will have a racing manager who looks after all those things. You may well get a horse owners badge which allows you access to restricted parts of the racecourse including the paddock. You may well be rubbing shoulders with the great and good of racing.
I have been part of a horse racing syndicate with Newmarket trainer Julia Feilden. Their syndicate is called Newmarket Equine Tours. It was very affordable and great experience, to enjoy a day at the races with lovely people. It costs just £200 per year. You don’t receive any prize money if your horse wins. However, the syndicate has four horses which entitles you to go racing on a regular basis for free (with your owners and trainers badge). If you have plenty of time on your hands, love going to the races, meeting like-minded people, it is as cheap as chips.
In truth, syndicates are the lifeblood of the horse racing world. There are many well-known names including Middleham Park Racing, Inittowinit, Opulence Thoroughbreds to mention just a few. There are hundreds to choose from, many run by horse trainers themselves.
If you are very rich then owning a race horse (or horses) is a luxury you may be able to afford. However, for many a syndicate gives you a real opportunity to enjoy horse racing as an owner for a fraction of the cost.