Post by Peter Gross on Apr 7, 2009 7:45:48 GMT -5
Of all the gambles in live, surely owning a racehorse is near the top of the risk scale. To win a race, a horse has to be the fastest, has to get a clean trip and be guided by a smart jockey or driver. This all assumes that the horse is even healthy enough to make the race.
About six months ago, after being introduced to Harness Racing Canada by its director Paul Garofalo, I opted in for a 1% share of a trotter by the name of Son of Paige. Actually he's a son of Angus Hall, but his mother is Paige Seelster. A 1% share in this horse cost $300 and I did have to get my Ontario Racing Commission License ($100) and Standardbred Canada membership ($50). Not really a huge investment, considering that Middle East Sheiks routinely throw away $5- $10 million for unraced yearlings.
Son of Paige did not make an immediate great impression in the days and weeks following my purchase. He broke stride in five of seven races and was forced, on two occasions, to re-qualify in front of the judges to prove he even belonged on the track. Those were dark days and nights for Garofalo and trainer Wayne Preszcator. But late in 2008, the tide started to turn nicely in favour of Son of Paige. He won a race in December and picked up smaller cheques by hitting the board in a few other races. Clearly the turning point for Son of Paige came in January when I visited him on the farm. He's a handsome five year-old and I simply told him to stay within himself, not to vary from his game plan, take adversity in stride, keep your eyes on the prize and you can be anything you want if you only try. Son of Paige then bolted from his stall and trotted around the training track at about :27 per quarter just to get away from the cliche spouting madman.
Anyway, since then Son of Paige has won three times. Last month, he connected at 9-1 thanks to a brilliant drive from Mike Saftic who came into the stretch in 8th place with a wall of horseflesh in front of him. Somehow Saftic found a spare inch on each side of his wheels and steered a determined Son of Paige to a half-length win. That night, Son of Paige paid off at more than $20. Last night in a $25,000 trot for non-winners of $18,000 last six, Son of Paige went off at 14-1. But Saftic gunned him from the six-hole and had him sitting second for most of the trip behind the 3-2 favourite Windsun Lane. In the stretch, when Saftic pulled into the middle of the track, Son of Paige had plenty of trot and easily overhauled the front runner to win by a length. I was asleep at the time and didn't even bet. Too bad. Son of Paige paid $31.30
However, since this was a $25,000 race, Son of Paige earned $12,500. Simple math would tell you that my share is a nifty $125, but it's not that easy. My agreement with Harness Racing Canada is that I get 1/100th of anything left over after the trainer and driver get their legitimate cuts, minus equipment costs, medicine, wraps, oats, transportation, entry fees, exit fees, gas, water, debt retirement, donuts, programs, acupuncture, holistic massage, two for one pizza, etc... Ok, it's not quite that bad - turns out I might be entitled to about $60. I have already received a couple of small cheques totaling $90. My point here is that I'm thoroughly enjoying it. Every time Son of Paige runs, I brag that 'my horse' is out tonight and when he wins - and he's done that four times since December - I boast that 'my horse' won last night. There is the distinct possibility in the next few months that the amount of money I get in the mail from Harness Racing Canada will exceed my investment and then what? Well...what if he races for five more years. I am not required to contribute to his expenses, yet I will receive small chunks every time he wins.
I've even bought a share in another trotter. Her name is Benn's Champion and she's in easy tomorrow night ( or so I've been told.)
The guy's name is Paul Garofalo and he can be contacted easily through Harness Racing Canada. I can truthfully testify that my horse owning experience has been both emotionally and financially rewarding.
About six months ago, after being introduced to Harness Racing Canada by its director Paul Garofalo, I opted in for a 1% share of a trotter by the name of Son of Paige. Actually he's a son of Angus Hall, but his mother is Paige Seelster. A 1% share in this horse cost $300 and I did have to get my Ontario Racing Commission License ($100) and Standardbred Canada membership ($50). Not really a huge investment, considering that Middle East Sheiks routinely throw away $5- $10 million for unraced yearlings.
Son of Paige did not make an immediate great impression in the days and weeks following my purchase. He broke stride in five of seven races and was forced, on two occasions, to re-qualify in front of the judges to prove he even belonged on the track. Those were dark days and nights for Garofalo and trainer Wayne Preszcator. But late in 2008, the tide started to turn nicely in favour of Son of Paige. He won a race in December and picked up smaller cheques by hitting the board in a few other races. Clearly the turning point for Son of Paige came in January when I visited him on the farm. He's a handsome five year-old and I simply told him to stay within himself, not to vary from his game plan, take adversity in stride, keep your eyes on the prize and you can be anything you want if you only try. Son of Paige then bolted from his stall and trotted around the training track at about :27 per quarter just to get away from the cliche spouting madman.
Anyway, since then Son of Paige has won three times. Last month, he connected at 9-1 thanks to a brilliant drive from Mike Saftic who came into the stretch in 8th place with a wall of horseflesh in front of him. Somehow Saftic found a spare inch on each side of his wheels and steered a determined Son of Paige to a half-length win. That night, Son of Paige paid off at more than $20. Last night in a $25,000 trot for non-winners of $18,000 last six, Son of Paige went off at 14-1. But Saftic gunned him from the six-hole and had him sitting second for most of the trip behind the 3-2 favourite Windsun Lane. In the stretch, when Saftic pulled into the middle of the track, Son of Paige had plenty of trot and easily overhauled the front runner to win by a length. I was asleep at the time and didn't even bet. Too bad. Son of Paige paid $31.30
However, since this was a $25,000 race, Son of Paige earned $12,500. Simple math would tell you that my share is a nifty $125, but it's not that easy. My agreement with Harness Racing Canada is that I get 1/100th of anything left over after the trainer and driver get their legitimate cuts, minus equipment costs, medicine, wraps, oats, transportation, entry fees, exit fees, gas, water, debt retirement, donuts, programs, acupuncture, holistic massage, two for one pizza, etc... Ok, it's not quite that bad - turns out I might be entitled to about $60. I have already received a couple of small cheques totaling $90. My point here is that I'm thoroughly enjoying it. Every time Son of Paige runs, I brag that 'my horse' is out tonight and when he wins - and he's done that four times since December - I boast that 'my horse' won last night. There is the distinct possibility in the next few months that the amount of money I get in the mail from Harness Racing Canada will exceed my investment and then what? Well...what if he races for five more years. I am not required to contribute to his expenses, yet I will receive small chunks every time he wins.
I've even bought a share in another trotter. Her name is Benn's Champion and she's in easy tomorrow night ( or so I've been told.)
The guy's name is Paul Garofalo and he can be contacted easily through Harness Racing Canada. I can truthfully testify that my horse owning experience has been both emotionally and financially rewarding.
