We have a racing industry because owners want to have the thrill of seeing their horse run around and hopefully win.
To have a horse that pays for itself or makes money on top is the elusive holy grail.
More than 90% of owners fork out far more than they ever get back.
That's why it's known as the sport of kings.
Without syndication only the rich can afford to race them.
In 2009 I'll be getting a horse to race for fun (2008 is already full of other things), I expect it will cost me plenty, but you never know, I probably have a 10% chance of making money.
In one race at sandown the winner cost $18,000 and beat horses costing in excess of $200,000.
You don't need to purchase a $500,000 horse, a horse under $20,000 has just as much chance of winning, the higher priced horses just have higher stud value.
There have been quite a few very expensive duds on the racetrack, many millions spent and never won a race.
The bloodline might be there for future progeny, but I would never buy a horse sired by an expensive non winner.
My horse will have to be sired by a multiple Group 1 winner, and under $20,000, you'd be amazed how many there are when the fashionable sires are the expensive ones.
Hey, maybe I can just keep betting more and more til it wins to recoup all costs, if it doesn't win, I'll just line up at the soup kitchen
