Purchasing a racehorse can be a daunting but exciting experience. There’s nothing more satisfying than spending time with your horse, grooming and training it to ensure it’s ready for its day at the races. If you’re looking to add to your stables or even if you’re about to invest in your very first racehorse, here are some tips to assist you:
Racehorses can be purchased at any time
The common place for racehorses to be purchased is at a public auction. This allows buyers to view the horse and learn more about its specific breeding. Whether a yearling or an experienced racehorse, you can still make the purchase. Regardless of this, you’ll still need to put in the time to train your horse to perform the way you want it to.
The overall performance of your racehorse
There’s a substantial risk in taking part in horse racing. You can have the best horse of the season but it can still have a bad day. Before you purchase just any horse, be sure to reach out to a professional buyer to get the assistance you need. This ensures you’re purchasing a horse without any issues.
Owning a racehorse is a lot of fun
The thrill of horse racing is the reason why many breeders hope to earn some financial returns for their animal. Not only that, but you also get to ride your horse if you so choose. Alternatively, you can enter it into a competitive sport, and really see if it can stand up against the competition. You have the opportunity to experience the thrill of betting money on your own horse or even other horses involved. There’s nothing more rewarding than seeing your own horse succeed.
Understanding the costs involved in purchasing a horse
Unless you have experience with training horses for horse racing, there are additional costs that you’ll incur as you make your purchase. You’ll need to ensure you have sufficient money to pay for a trainer, grooming, accommodation, feeding, vet bills and a uniform for your horse and rider. This cost goes over and above the price you’ll pay to purchase the horse. This has to be catered for with a substantial budget, as most often it’s an investment which may only have very little returns.
There’s a chance your racehorse won’t pay off financially
Horse racing isn’t for the faint-hearted or for people on a tight budget. Quite often, the horse races aren’t able to pay everything off and this is due to a number of reasons. From early retirement to illness and injuries, these are all part of the risks involved when you participate in this sport. You can be prepared for just about any scenario, but there are certain things that simply can’t be prevented.
The beauty of horse racing is, you have the option to purchase your own horse, or in some cases, breeders will let you lease the horse for a contracted period. If you aren’t able to make the financial investment to purchase your own horse, this may be an avenue worth exploring. These are just some of the factors to take into consideration if you’re looking to get into the horse racing scene. Be sure to conduct sufficient research and spend time with horse breeders to ensure you’re receiving nothing but the best.