Racehorse Ownership Guide

Racehorse ownership can be achieved in one of several forms. We offer co-ownership shares in racehorses on behalf of Trainers.

If you purchase a racehorse share via our financial service, you become a “co-owner” and own legal and beneficial title to your share in the Horse as a tenant in common until the Co-ownership Agreement is terminated.

Should any co-owner default on their financial obligations, other co-owners are not collectively liable for costs and debts incurred by the defaulting co-owner, unlike partners in a partnership.

Documents to review before you decide to buy racehorse shares

Product Disclosure Statement (PDS): Information to enable you to make a fully informed investment decision. This document discloses details regarding the Trainer, Horse, Share Price, Ongoing Cost, Benefits and Risks. It also includes an independent veterinary report and the Trainer’s Schedule of Fees and Terms of Training.

Co-Owners Agreement: An agreement between all co-owners appointing the Trainer and Racing Manager, and detailing: the colours the jockey will wear in a race; how trophies (if won) are handled; how decisions are to be made in various circumstances and whether a decision requires majority consent (>50% of ownership) or a special consent (>75% of ownership).

Costs included in the usual share price, clearly detailed in the PDS

Purchase price paid to secure the horse at public auction or private sale. Or sometimes this might be a valuation by an independent valuer, if the Horse was not purchased at public auction.

Acquisition Costs paid by the Trainer; including vet inspection and x-ray fees; scoping performed as a condition of sale; insurance; and transport to selected property.

Horse Husbandry & Training Costs paid or anticipated to be paid by the Trainer over a specified period of time.

Eligibility Payments paid or anticipated to be paid by the Trainer for bonus schemes or feature races.

Promotion Costs paid or anticipated to be paid by the Trainer or us, including veterinarian report charges for inclusion in PDS,  advertising. our promotion fee and professional indemnity insurance fee.

Ongoing costs of ownership and monthly payment

You will be contractually obligated to meet your percentage share of the expenses incurred throughout your horse’s racing career, whilst you remain the owner of that share.

You will receive invoices directly from the trainer and possibly from related suppliers such as transport companies.

The PDS includes an estimated average monthly cost over the horse’s career, based on certain assumptions detailed.  Usually this amounts to $180-$220 per month, depending on the location of the trainer.


Usually, each horse is insured by the Trainer for mortality and theft from the purchase date to a date specified in the PDS.

After this date, it will usually become your responsibility to insure your Share(s), if you choose to do so. We are not an insurance agent or broker. However we or the Trainer can provide suitable options for you to research, and provide administration support to help you to source your own cover.

Ownership privileges

If you buy a racehorse share of 5% or greater, you and one guest will enjoy the following privileges when your horse is running:

  • Your name in the race book;
  • Free course entry, complimentary race book, and access to an owners’ car park, subject to availability;
  • Access to the members area and mounting yard pre-race to discuss tactics with the trainer and jockey;
  • Grandstand seating for the race in which your horse is engaged;
  • Access to designated post-race hospitality areas including refreshments; and
  • If your horse wins, further post-race hospitality.

The above privileges are provided at the discretion of individual race clubs.

If you own less than 5%, receipt of the above privileges will depend on how many other owners attend the race meeting in which your horse is engaged. Most clubs have members and mounting yard restrictions.

Prizemoney disbursement

Any prizemoney won is deposited by the relevant Racing Authority into your bank account you specify on the registration forms.

Trainer and Jockey entitlements are paid direct to trainers and jockeys before disbursement.

Each authority may have different processes and timings for payments, but you can expect them to occur approximately 20-30 days after the race in which your horse won prizemoney.

Sale of Share(s)

You should consider your share(s) in your horse as a long term investment for the length of the horse’s race career. However, you are entitled to put your share(s) up for sale at any time.

Each Co-Owners Agreement will contain detailed policies and procedures relating to share sales.

Neither we nor the Trainer can guarantee the sale of your share(s). You will be contractually obliged to meet your percentage share of the expenses incurred by the horse throughout this process until any sale is finalised.


There is no assurance of performance or an increase in value of any Horse we promote. Unfortunately, not all thoroughbreds proceed to become racehorses and start in a race. Of those that race, not all racehorses win or earn prize money. No guarantees can ever be given that any Horse offered is assured of any racetrack success.

Racehorses can be injured and sometimes require recuperation periods which can be expensive and lengthy, or may be unable to race again.

A very high percentage of male racehorses are gelded for various physical and mental reasons. No guarantees are given that any male racehorse will not be gelded. As a result, with the exception of well-bred and highly performed entire horses suitable to become stallions at stud, male racehorses are often unlikely to have any significant value at the end of their racing career. Be sure to ask questions regarding the arrangements Trainers and Managers make, to provide the Horse every possible opportunity for a quality life post its racing career.

Any insurance cover obtained and included in any Offer, does not cover all risks associated with Ownership.

Therefore, the commercial merits of investing in Shares in a racehorse should be regarded as being of a speculative nature. Get into racehorse ownership for the thrill, not necessarily for monetary reward. The investment is not recommended for investors who are unable to risk the initial outlays and ongoing commitments.

Final Tips

Ask the following key questions, for any Horse you are considering buying into:

• What costs are included in the Share Issue Price? Specifically, what fees or markups are charged? What advertising fees are being charged? What training, breaking in, spelling fees are included and for what period of time? What insurance is included and what is the cost as a percentage of the purchase price?

• Is there a Purchase Invoice to confirm what the Trainer paid?

• Does the Trainer owe money to anyone on this Horse? When will the Trainer or Promoter pay outstanding monies due, to ensure clear title to the Horse is transferred to new co-owners?

• Is there a veterinarian report?

• Is there a valuation report if the Horse was not purchased at public auction?

• Are there ongoing management fees payable?

• What are the consequences of defaulting on payments?

• Who sends out the invoices?

• What is the level of communication received, and who provides that communication?