As a horseracing fan, you love going to the track and you have dreamt of having a racehorse of your own. You have thought about what being in the winner's circle would be like and how it would feel to take home the winnings. You may have thought about all of these things, but have you seriously considered what would be required to buy a thoroughbred racehorse and what would be needed to take care of it? If you are really interested in owning a thoroughbred, it's important to learn more about the industry and everything that goes into ownership before you decide whether thoroughbred horseracing is a sport you want to become more involved with.



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 know what the monthly expenses consist of and how much they could amount to?

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

* Do you want to be an active participant in making the decisions?

* 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 you understand how horse racing partnerships and syndicates work and what goes into them?

* Do you believe you are prepared for the liability and the tax burdens of being a licensed racehorse owner?

Is the answer to any of these questions is making you nervous; you need to rethink how ready you are for thoroughbred ownership. You may want to discuss the issue with someone from the Thoroughbred Owners and Breeders Association. There are also a number of attorneys, advisors, accountants and thoroughbred owners who can help you with your decision by giving you professional advice.

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.