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#1
02-03-2007, 07:23 PM
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Horse Racing
Is it possible to make money racing horses? I don't see how the average racehorse owner is making money off of their horses. It seems to me it must mostly be rich businessmen who do this as a hobby and if a horse is successful they are able to recuperate some of their losses. Sure, you can link together businesses and have a horse stable/horse sitting service and things of that nature. But I can't imagine the horse racing business to be that profitable.
Am I wrong? If it is possible to be profitable in a business like this starting from scratch, this is something I would love to do. Can anyone point me to some quality horse racing information or give me some insight into running a horse racing operation? 
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#2
02-03-2007, 11:07 PM
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Re: Horse Racing
Of course its possible, but your horse has to be a winner. This most likely means you are going to have to pay top dollar for a horse. There are examples of people that have got a horse at low cost and it turned out to be a winner. Smarty Jones did not have the great racing genes but he won two races in the triple crown. His breeding rights sold for more than 40 million. If he would have won the bellmont it would have fetched someone around 100 million. Dont get me wrong its not just breeding its also wins. You bag a lot of money everytime you win a big race.
My friend went in on a horse and it was most possibly the worste investment in the history of the world. Its an exiting hobby that can make you big bucks.
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#4
02-04-2007, 11:47 PM
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Re: Horse Racing
A Huge majority lose a HUGE amount of money too. It's an expesive hobby.
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#6
02-28-2007, 10:30 AM
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Re: Horse Racing
I think that for those who make money, most of that money comes from breeding and selling horses. My understanding is that in order to make any real cash you've got to have a huge stable - enough horses for the breeding to offset the huge costs. The problem is that many of the horses with the top dollar breeding still are losers.
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#7
03-01-2007, 03:57 AM
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Re: Horse Racing
The biggest gamblers in the horse industry are not the guys who place the bets but the guys(and gals) that own the horses. As others have stated, owning a race horse is a HUGE gamble. Your best option to try it out to see if it is for you is to buy a horse with a syndicate. This way you will have other "investors" to help pay fo the purchase and also to help pay for keeping the horse at the track(feed,farrier,groom, trainer etc..). I have lived my whole life(38 years) in the Horse Capital Of The World - Ocala, Florida. For every person here that has made money racing horses I can show you at least 3 that have lost their shirt. I would advise you to proceed very cautiously unless you can befriend a true horseman in the business or unless you can afford to buy some good help that comes with references, there are a TON of scammers in the business.
They don't call it "The Sport of Kings" for nothing.
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