What You Need to Know About Joining a Horseracing Partnership

If you are a fan of thoroughbred horseracing, you may spend a lot of time at the track and you may have imagined owning a racehorse. You might have imagined standing in the winner?s circle with winnings to take home. But in your dreaming, have you really thought about what would be required of you if you owned a racehorse? Before investing in a thoroughbred, the best idea is to study the way the industry works and to learn about the different variables that go into thoroughbred horseracing.

So much goes into buying a race horse that there are a lot of things you need to learn before purchasing one. Before you consider investing in a racehorse, ask these questions:

* Are you financially stable enough to pay for the thoroughbred racehorse as well as paying the monthly fees to train and take care of the horse?

* Are you able to invest in a racehorse even though you may not get a return on the investment quickly or may not get one at all?

* Do you understand the monthly costs involved in keeping a racehorse?

* How much time do you realistically have to devote to your thoroughbred ownership?

* How active do you want to be in the decision making process?

* What types of races and at what level do you plan to compete?

* Are you comfortable with taking on all of the investment risks and paying all of the expenses for your race horse or do you want to join in with a horseracing partnership or syndicate?

* Do have an understanding of horseracing partnerships and syndicates and how they work?

* Are you prepared to become a licensed thoroughbred owner and assume the liability and tax implications that go along with it?

If any of these questions make you nervous, it would be wise to rethink your position until you feel more confident and sure of yourself. There are organizations such as, the Thoroughbred Owners and Breeders Association (TOBA) as well as professional advisors, attorneys, accountants, and other thoroughbred owners who are available to lend helpful advice and steer you in the right direction.

Though watching thoroughbred horseracing is exhilarating, there are lows that go along with the highs. Being a spectator is one experience but watching a race as a partner or owner of a racehorse is quite another.

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