Easy Guide to Horse Racing Ownership.
Thoroughbred horseracing is an important spectator sport in Australia, and gambling on horse races is a popular pastime with A$14.3 billion wagered in 2009/10 with bookmakers and the Totalisator Agency Board (TAB). The two forms of thoroughbred horseracing in Australia are flat racing, and races over fences or hurdles in Victoria and South Australia. Thoroughbred racing is the third most attended spectator sport in Australia, behind Australian Rules football and Rugby league, with almost two million admissions to 360 registered racecourses throughout Australia in 2009/10. This Guide will help you understand the Racing Industry. It will also help you understand what being an owner of a race horse involves and terminology.
• Communities- They benefit from racing especially in the country as it provides a venue for celebration and revenue in a township. Many towns survive on their racecourses. It also provides employment for the local community.
• Farrier- A farrier is a specialist in equine (horse) hoof care, including the trimming and balancing of horses' hooves (feet) and the placing of shoes on their hooves.
• Government- receives revenue from the Racing.
• Jockeys- those who ride the horses at trackwork or in races.
• Owners- Those who have a financial interests in racehorses.
• Punters- those who bet on races
• Media- Race callers, newpapers, reporters, etc all have media responsibilities in racing.
• Racing Clubs- There over 70 horse racing Clubs in Victoria alone all providing race days and employment.
• Racing Authorities- These authorities govern the conduct of racing including registrations, licensing and regulations. Eg RISA
• Stable hands- workers around horses performing many tasks like strappers ( putting bridles and saddles on), feeding horses, grooming horses, walking horses, handling them etc.
• Stud Farms- these specialise in the breeding of horses.
• TAB- these are agencies spread around Australia selling bets to customers (punters).
• Tourism- Racing gives tourism a boost in all areas as people will travel and stay at racing venues.
• The General Public- benefit out of racing because of the wealth generated through the taxes on races and jobs provided by its many stakeholders.
• Trainers- These are the people who are in charge of preparing your racehorse for the track (getting it fit) and planning your race horse’s future.
• Colt- 2 or 3 year old male horse.
• Dam- Mother of a horse.
• Entire- a male horse that has its reproductive organs intact.
• Filly- 2 or 3 year old female horse.
• Gelding- a male horse that has its reproductive organs removed.
• Mare- a female horse 4 years old and upwards.
• Sire- the father of a horse.
• Yearling- A horse who is 1 year old.
* Agistment - the cost of having your horse cared for whilst spelling.
• Floating- the cost of transporting the horses by horse float.
• Spelling- when a horse is not in training and resting for the next time.
• Sprinter- a horse who races best over small distances- 900metre to 1200 metres.
• Middle Distance- a horse who races best at 1300 metres to 2000.
• Stayer- a horse who races best over long distances- 2000 metres and upwards.
• Flat races- where horses race over no obstacles- any hurdles or steeples- the vast majority of races are like this.
• Hurdle races- an obstacle the horses jump over whilst racing.
• Steeple races- an obstacle or fence the horses jump over which is higher than a hurdle.
• Jump out- where horses are trained to handle going into the barriers with other horses and run out of them just like a race.
• Trial- where the horses have a practice race against other horses for no prize money.
There are numerous advantages with owning a racehorse with Speed of Light Racing some of which appear below:-
• Having a racehorse gives you inside knowledge to a horse’s performance therefore making it more possible to be successful when betting.
• It enables you to develop Networks by meeting and building friendships with fellow syndicate members.
• It can provide entertainment for your friends, family or clients.
• You can have a say in the direction your horse is taking.
• You can gain free entry to the races with an owner's Gold Card. http://www.racingvictoria.net.au/p_Owners_Card.aspx
• See this website for the advantages.
• When your horse goes to the races you can get further race day privileges like mounting yard entrance, member enclosure privileges, free race books, guess passes etc.
• When a horse is successful it can win lots prize money to you.
Costs and Earnings
Agistment cost - $22 per day plus GST
Prize money- When a horse races, it gets price money according to its performance. (see listings next page)#
Training- $79 plus GST per day whilst in training.
Trophies are valued at $2,000 to $100,000 depending on the grade of race.
Vet Fees Wagering successfully on your horse.
Nomination Fees- apply to race entry. Once the Syndication decides to finish the horse it is sold and sale money is distributed according to your % of ownership.
( ie Horse sells for $50000 and you share is 10% you receive $5000)
Transport- Floating fees to races etc
Cost of Original Share Syndicated
Jockey Fees- Usually approx $140 when riding your horse in a race.
Please note these Costs are a guide only.
Typical prize money distribution
Smaller country race meetings
A race of $10,000.1st $6,700, 2nd $1,800, 3rd $900, 4th $600, Starter Subsidy $100
Country race meetings
A race of $15,000.1st $8,775, 2nd $2,700, 3rd $1,350, 4th $675, 5th $250, 6th $250, 7th $250, 8th $250, 9th $250, 10th $250
A race of $22,500.1st $13,650, 2nd $4,200, 3rd $2,100, 4th $1,050, 5th $250, 6th $250, 7th $250, 8th $250, 9th $250, 10th $250
Normal City race meetings- Midweek
A race of $30,000.1st $18,363, 2nd $5,650, 3rd $2,542, 4th $1,130, 5th $565, 6th $350, 7th $350, 8th $350, 9th $350, 10th $350
Normal City race meetings- Saturdays
A race of $70,000.1st $42,700, 2nd $12,600, 3rd $6,300, 4th $3,150, 5th $1,750, 6th $700, 7th $700, 8th $700, 9th $700, 10th $700
Of $100,000.1st $60,000, 2nd $18,000, 3rd $9,000, 4th $4,500, 5th $2,500, 6th $2,000, 7th $2,000, 8th $2,000 LISTED HANDICAP.
Of course races can carry greater prize money for Group Races, ie Melbourne Cup is for $5 million.
Racing your horse.
Now you have a good understanding of horse racing as an owner, we have to consider where we race our horse. Below are the usual events and variables we need to consider.
Maiden Races- For horses who have never won a race. This where horses usually begin their racing Careers.
Handicap races- These races are weighted according to their performance form rating, age and sex.
Weight For Age- A standard weight allocated to horses for age and sex. For example, mares are allocated less weight than geldings and 3 year olds have less weight than 4 year olds.
Eligibility- If many horses are nominated for a race, they are balloted out according to rules of racing- ie prize money earned, weight carried etc.
All these events can be varied by restrictions of age, distance the race is for , rating of horses and what sex the event is for ie fillies only races.
Apprentices- These are inexperience jockeys who claim weight of the horses back according the number of races they have won- They can do this until their apprenticeship finishes.
1. Handicap (1100 METRES) for Three-Years-Old and Upwards, Fillies and Mares only.
2. (1000 METRES) Rating 0 - 72, Handicap, Minimum Weight 55kg, Four-Years-Old and Upwards, Mares only.
3. Maiden Plate (1212 METRES) Set Weights, Three-Years-Old and Upwards, Apprentices can claim.
4. Handicap (2200 METRES) rating 0 - 62, Minimum Weight 54kg, Apprentices cannot claim.