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Owning a part of the action

The thunder of hooves heading for the finish line gives a thrill that cannot be matched. How much greater the excitement when your own horse is one of the front runners.

Thousands of Queenslanders who are owners or part-owners of racehorses have felt their hearts race as a jockey riding hands and heels brings their horse down the home straight.

There are many ways for people to become involved in racing as horse owners. These range from being a hobby owner to a professional, from being a sole owner to a part owner through a partnership or a syndicate, through to having your own stable of champions.

Financial commitment

Apart from the cost of buying a thoroughbred or a share in a joint partnership or syndicate, potential owners must consider the ongoing costs of feeding, grooming and training their racehorse.

The minimum cost of keeping and racing a thoroughbred racehorse in Australia has been estimated at around $15,000 a year, with the average prizemoney won by each horse more than $5000. Therefore, a full owner of an average racehorse could expect to pay about $10,000 a year out of her or his own pocket. However, a horse would only have to win two mid-ranking city races a year to break even.

Partnerships and syndicates

Horse owning through partnerships of up to 10 people and syndicates of up to 20 allows the costs to be shared, making getting into the industry affordable for more people and allowing friends, work colleagues or other groups to share in the excitement. This means you could become an owner for less than $20 a week.

Before entering a partnership or syndicate, prospective owners should ensure there is a clear agreement about the terms of the partnership, especially regarding decision-making and the sharing of prize money and costs. The joint owner whose name is listed first on the ownership or lease documents will be the official manager for the joint owners or partners under the Rules of Racing.

Each joint-owner or partner's name appears in the racebook as a registered owner, and each is entitled to full race day ownership privileges, giving access to the members' enclosure and mounting yard. Only the syndicate manager's name appears in the racebook along with the syndicate name.

Sales

Many people become owners by buying horses privately or at yearling sales, where horses are sold at auction. Before buying, it is strongly recommended that you seek advice from a bloodstock agent, veterinarian or your horse trainer.

QTIS

The Queensland Thoroughbred Investment Scheme aims to increase investment in the Queensland thoroughbred industry.

Approximately $4.5m is distributed to industry participants annually.

The range of QTIS incentives encourages participants to register their horses for the scheme. These include QTIS Added Stakes, QTIS Breeder Bonuses and QTIS Super Stakes.

Queensland-bred and Breedback eligibility are both available as part of QTIS.

Privileges for owners

Privileges for owners include free admission and entry to the members' enclosure on the day their horse is racing. Owners can also enter the mounting yard to discuss tactics with their trainer and jockey. However, due to limited space and safety considerations, entry to the mounting yard is subject to the discretion of stewards and the race club secretary. A race club official will invite winning owners into the committee room to enjoy a celebratory drink and watch a replay of the race. To ensure memories of the win, owners can obtain a photo of their horse as it flashed past the finishing post. Often races carry trophies as well as prizemoney. Many clubs have special parking areas and other facilities for owners.

Assistance for first-time owners

Queensland Racing can help first-time owners with information on all aspects of ownership. Contact Queensland Racing for more information.

Queensland Racehorse Owners Association

The Queensland Racehorse Owners’ Association (QROA) is proud to represent owners. The association continually seeks better outcomes for its members through reduced costs, increased prizemoney and the maintenance of a strong relationship with Queensland Racing. In addition, the Association values its members and encourages friendship and social interaction Members of QROA also receive other benefits including free entry to selected racecourses and trade discounts.

For further information please visit www.qob.com.au or contact their office via owners@queenslandracing.com.au or 3869 9705