What many people need to understand when they have a sudden interest in buying a horse is that investing in a racehorse is a lot like investing in a car. Racehorse partnerships are the most logical route where you own a significant part of the horse rather than the entire entity.
Horse racing is known as the sport of kings due to its significance throughout history. The benefit of partnerships when it comes to owning an animal crafted of pure muscle is that you can sip mint julep’s at the Derby like a king without actually being one. However, there are some key financial questions to consider before investing.
Think about your annual income. A survey conducted that 60% of part owners have an annual income of $75,000 or just shy of that. What do you plan on accomplishing by investing in a partnership? If you believe you have the next Triple Crown winner, you will want to invest more money into the horse, but if you are looking to win a little bit of prize money with smaller races, just investing a few thousand dollars should suffice.
Horse racing is essentially a large game of roulette. While it may be defined as a sport, it is structured as a business. Before investing in a racehorse partnership, make sure to research the advantages and determine if your advantages can overcome the downsides.