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January 2013

Mojo’s Top Five Tips for Owning a Race Horse

Owning a race horse can be affordable and rewarding if you follow these tips…

Tip 1: Racing Is Thrilling

The main reason to participate in the sport of Thoroughbred racing is to safely elevate the level of excitement in your life on a regular basis.
Imagine watching a wall of race horses (like the photo above) flying around the turn and into the stretch.  The drumming sound of their hooves striking the ground intensifies like thunder rolling across a distant field.  With a furlong to go, your runner emerges from the pack accompanied by another.  As the two battle head-to-head for the lead, the crowd stirs into a frenzy.  Cold chills tingle up the back of your neck.  A wave of uncontrollable emotion rushes toward you.  With every heart-pounding stride you call out, impulsively urging your runner toward the finish:  “Come on!  Come on!”
The personal value of extraordinary racing moments like this cannot be overstated.  And, when participating in a group that owns a Thoroughbred race horse, this kind of jubilant adrenaline rush is often possible.

Tip 2: Look For The Right Options

There are many options out there to participate in the sport of Thoroughbred racing, and you want to find the one that works best for you.  In the future, I’ll post separate articles about the particular ins and outs of breeding, selling, and racing horses. 
When it comes to assessing your options, first you have to decide what you’re willing to do.  If you like to call the shots, then sole ownership is what you need.  If you’re looking to make money, then the sales side of the business is likely the direction you should go.  And, if you want instant action, then a racing venture is what you probably want to consider (especially if you’re just starting out).
No matter what you decide to do, keeping any of these operations going by yourself will be a lot of work, and with that in mind, most people simply don’t have the time (or energy) to do it all by themselves.  As such, to enjoy the more immediate thrills of the sport and the energizing camaraderie of others, being part of a racing group is usually the best bet. 

Tip 3: Understand The Costs

Just like there are different ways to get involved, there are also different spending levels at which you can participate. 
All options (breeding, sales, racing) have the participation prices set based on what other people think the estimated future returns will be and the competitive ability of the talent going forward in each race.  If your focus is to breed, sell, or race horses to compete at the highest stakes level, then the prices you pay will reflect the potential earnings of the horse you sell or acquire.  If you’re willing to participate at a lower level, then the prices should typically follow suit. 
Unless your pockets are deeper than a bottomless pit or you have a system established from which you can make money in all operational areas, the ideal sporting venture is to buy racing talent at the lowest possible price with the hopes of seeing it blossom into a high caliber race horse.  (More on this in a future article.)

Tip 4: Fun In Many Forms

Once you’ve made up your mind about the type and level at which you wish to participate, then it’s time to get involved in the sport.
For beginners, participating in a racing group (or partnership) is one of the best options because you’ll receive most of the benefits of sole ownership with a lot less effort and at a fraction of the cost.  Partnerships provide instant involvement and typically offer a pre-packaged gameplan based on an established racing strategy that’s ready-made so you can literally go out and see the horses in action.    
The pinnacle of the action is always the race; but a variety of other fun activities are also available to energize your soul and build up equally satisfying anticipation before your horse makes his way to the track.  These activities include farm and training center visits, going to the barn area at the race track, watching your horse during morning workouts, and attending events and parties hosted by the racing group for the participants and their families to enjoy.

Tip 5: Ownership Is Educational

Watching a horse develop and learning about the partnership's strategy over the course of a racing campaign is just as intriguing as the racing itself.
Horses have unique personalities, varying temperaments, and different competitive abilities that create intriguing possibilities for the groups that own them.  Trying to figure out what suits your horse’s competitive ability is determined through training and a series of races.  Some horses develop quickly, while others take time to settle into a racing rhythm.  Getting to know what works best for your runner will teach you that preparing a horse to race is just as much of fine art as it is a natural science.
Then there are the processes that take the sport to the next level—state sponsored gaming.  The licensing protocol, the types of races being offered at each track, and the standards for entering races adds to the interesting dynamic before the horses spring from the gate.  And, on race day, the fluctuating odds on the tote board, the handicapping tips, and different wagering methods gives the sport a tantalizing mystique that draws fans into a seemingly carnival-like atmosphere.

Stay Tuned (for future articles)

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Each month we'll dive deeper into the categories that shape the sport of Thoroughbred racing and the best ways to become part of the action.

Mojo Background

Mojo Thoroughbred Holdings, LLC (which conducts its horse racing operations as Mojo Racing Partners) was founded in 2006 to give people a Smart, Affordable, Fun, and Educational (SAFE) opportunity to participate in the sport of Thoroughbred racing.  Fred Taylor, Mojo's CEM says: "Our Concept is designed to offer our participants a lifetime of Win/Win experiences, and our Mission is to be the most affordable racing group in the U.S."

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