Join Date: Jun 2011. Where can I keep my horse? Costs vary depending on what state a horse is trained, as well training costs are considerably higher in metropolitan areas compared to those in country areas. Thoroughbred racing is described as the ‘Sport of Kings’. "It massively depends on where the horse is kept and who the trainer is. The total of the shares must be exactly 100%. At the expiry of the lease, the horse must be returned to the owner. Part of the challenge in racing is the very fact that money can’t guarantee success. Over the last 20 years I have owned eight horses. "For most people looking to invest its best to be able to say to yourself that you can write the money off and then enjoy the experience and the thrill of being an owner. But for true punters, simply punting on a horse is not enough: the only way to experience the magic of the track is to be a full or part owner of a horse. Cost of owning a horse. The costs of owning a horse can be quite significant and it’s important that every effort is made to take advantage of the tax benefits that are available to owners. The end result is that horses are expensive animals to purchase. "Essentially, a good trainer is vital when it comes to the health and good management of your horse.". Your horse needs daily care, and that can be costly and the costs can vary due to a number of uncontrollable factors. Syndicators buy yearlings at sales and then offer syndicate shares in them through advertisements in the media. This is just from my experience as a horse owner. "It really is more affordable than some may believe.". Here are the biggest expenses and how you can calculate what it will cost you to own a boat. Horse breeders put heaps of effort and skill into their work. 1. In Melbourne or Sydney it will cost between $65,000 and $55,000 a year to race a horse, along with other expenses such as transport, spelling, veterinary and farrier. In the past six years prizemoney has risen by over 50%, indicating a strong and growing industry. "We base cost on $40,000 per year upkeep. Maintaining your horse's hooves adds even more to the cost of a horse. Location: Australia. Boat ownership cost begins with buying a boat. Some people have made significant changes in their lifestyles in order to keep horses. It’s easy to obtain information on the thoroughbred industry from any of the industry websites, or specialist newspapers and magazines on sale at most newsagents. Online editions of catalogues are available to view the catalogue online first find the sale on the calandar and if currently available a link for the online catalogue will be displayed. However, many will generally write this off as a business expense for their stable and it will not be the same for the average person buying a horse. That puts the a… Horses for lease are infrequently advertised, but your trainer or adviser will probably know of owners willing to lease out a horse. From choosing a name to being allowed to enter the inside of the mounting yard, owning a racehorse sounds like a ticket to glamorous high society but caveat emptor, because the cost of maintaining a filly can easily run you up a bill of $50,000 a year. "As far as I know race day ticketing only gives syndicates a max of 20 tickets, so most people keep it around that number.". Home ownership in Australia is considered a key cultural icon, and part of the Australian tradition known as the Great Australian Dream of "owning a detached house on a fenced block of land." Catalogue are available for Magic Millions major yearling sales approximately six weeks before each sale. If you invest in the industry and become part of its lifestyle, one thing should be uppermost in your mind – owning a racehorse is a sport, not a business. 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