Claiming a Horse

[DerbyCat]

I've decided that I want to do more than just watch and bet on the horses, it's finally time for me to be a horse owner. I've been talking with a friend of mine who is a trainer here in northern California and I've decided to go in with him and another friend to claim a horse. For those of you that have been in this business a while, what advice would you give a newbie owner? I've talked with several friends in this business and I understand the "business" side of things but I still don't know everything and would love the input of you DTers that have done this a while. Thanks in advance for any insight you can provide.

[Cannon Shell]

Originally Posted by DerbyCat

I've decided that I want to do more than just watch and bet on the horses, it's finally time for me to be a horse owner. I've been talking with a friend of mine who is a trainer here in northern California and I've decided to go in with him and another friend to claim a horse. For those of you that have been in this business a while, what advice would you give a newbie owner? I've talked with several friends in this business and I understand the "business" side of things but I still don't know everything and would love the input of you DTers that have done this a while. Thanks in advance for any insight you can provide.

Make sure you have 3 or 4 months training expenses put away in case the horse you claim gets hurt and cant run back right away.

[Rupert Pupkin]

I agree with Cannon about having at least a few months of training expenses put away. Even at the Northern California tracks, you will have huge expenses. Your typical trainer up there charges $65 a day. So you are looking at training expenses of $2,000 a month. Your vet bill will probably be another $400 a month or so. So you are looking at approximately $2,400 a month in expenses.

You have these huge fixed costs which are the same whether you have $1 million stakes horse or a $5,000 claimer. I don't think it makes much business sense to buy a really cheap horse because of the huge fixed costs. You are looking at $30,000 a year in expenses in Northern California. The jock and the trainer each get 10%. That means that your horse would have to make $36,000 in a year just for you to break even. If you have a stakes horse that can make $200,000 in a year, then the huge fixed cost will not hurt you that much. But if you have a relatively cheap claiming horse, those fixed cost make it extremely difficult to make a profit.

[SCUDSBROTHER]

Originally Posted by Cannon Shell

Make sure you have 3 or 4 months training expenses put away in case the horse you claim gets hurt and cant run back right away.

In other words...think Harness. If it was a winning situation, then trainers wouldn't need owners(at all.)

[ceejay]

I heard this a long time ago, to paraphrase "horses eat while I sleep. On the other hand, my oil and gas wells make me money while I sleep." Reportedly this comment came from an oilman and horseman, Ran Ricks.

[Oaklawnfan]

First of all Derby Cat, thanks for all you do in putting together the contests we enjoy so much. After years of being a fan, I too decided it was time to move to the next level. I also wanted to impress my wife with a percentage in a horse as a Christmas Present. It took me nearly two years to get the deal that worked for us. I finally ended up in a claiming partnership with no additional fees. Granted you don't make much, but it was affordable and offered us the opportunity to participate as owners, not just betting fans. It took nearly six months to get a trainer to play along and claim a horse. We now are on our second horse. He just moved up to an Allowance level and won there too. We have been exceptionally lucky. I haven't had this much enjoyment in the sport since I first broke open a Racing Form. Just today, we had to drive nearly 250 miles to a legal place to wager on horse racing. Our horse was in the second at Churchill. We had everyone in the simulcasting facility on their feet rooting for our horse. He came in for a DEAD HEAT win!. D. C. do it!........... You will love it.

PS, that's him in the AVATAR

[phystech]

Originally Posted by DerbyCat

I understand the "business" side of things but I still don't know everything and would love the input of you DTers that have done this a while. Thanks in advance for any insight you can provide.

Understand and realize that you'll never know everything. The day you think you do - sell.

To me, I have found it to be equally important to understand the other owners and trainers, specifically their patterns, their financial means, etc, as it is to know the horses.

Also important - keep your expectations in check and understand that the horse you just paid $10k for a minute ago, might not be worth $10k now. Sometimes the best hop is a drop.

Hope you have a lot of luck and even more fun!!

[MISTERGEE]

claim a horse who either just recently changed either the surface or distance they have been running, or have had a change of equipment or added lasix and have shown marked improvement and are being moved up somewhat but not much in class. do not claim any dropdowns from succesfull trainers. they are not in the game to give you a gift. my humble opinion. I hope it helps. It has worked for me over the years.

[Rupert Pupkin]

Originally Posted by DerbyCat

I've decided that I want to do more than just watch and bet on the horses, it's finally time for me to be a horse owner. I've been talking with a friend of mine who is a trainer here in northern California and I've decided to go in with him and another friend to claim a horse. For those of you that have been in this business a while, what advice would you give a newbie owner? I've talked with several friends in this business and I understand the "business" side of things but I still don't know everything and would love the input of you DTers that have done this a while. Thanks in advance for any insight you can provide.

As strange as it may sound, some of the most consistent claming horses are often times the most unsound. If you are just looking at their Form, they may look like a relatively safe claim. But in reality you are playing russian roulette with a lot of these. Any race could be the final race of their career.

[GBBob]

I told a guy today that my biggest surprise about owning horses is how hard it is to just getting to run in a race. Whenever the phone rings and it's Chuck I figure something bad has happened. Assuming you want to run a sound horse each time, be prepared for the worse and be thrilled when you get to run.

I have claimed many horses and I usually try to adhere to two rules that I was taught by two guys that certainly know about the game.

1. Vladamir Cerin once gave me this tip. Always watch the films on a horse you are thinking of claiming. Not just his last race. But several races back. If his stride and action are not very similar. Beware. The current trainer may have done some vet work on him for his most recent race that you cannot do everytime and that could for a race or two at best mask some bigger problems that might soon resurface.

2. This one I got from Bob Bone. DO NOT claim a horse from a trainer that brings a horse to the paddock fully well knowing that horse will be claimed that day. If a guy really doesn't care if he loses his horse. Do you really want him?

3. This one's from me. There is ONE an only ONE reason to claim a horse for any price. FUN & ACTION. If making a profit is your goal. Don't do it. Chances are you won't. At one time I had all or part of 23 horses in training. I won at a 40% clip for a six month period and broke even. Claiming and then running back your claims is one of the coolest things ever invented. But it MUST be a recreational pastime done with disposable income. Pick a trainer you can interact with and have a role in the decision making process. Which race and who rides. That's the stuff that make it fun. When your horse is in invite all your friends out and make it a party day at the track.

Got Get Em!

Good Luck

VJS

[westcoastinvader]

Originally Posted by DerbyCat

I've decided that I want to do more than just watch and bet on the horses, it's finally time for me to be a horse owner. I've been talking with a friend of mine who is a trainer here in northern California and I've decided to go in with him and another friend to claim a horse. For those of you that have been in this business a while, what advice would you give a newbie owner? I've talked with several friends in this business and I understand the "business" side of things but I still don't know everything and would love the input of you DTers that have done this a while. Thanks in advance for any insight you can provide.

DerbyCat....I thought about you today. I had a family event at the Pleasanton Fair meet, and had a neat story in my race I might share later.

Relevant to you, I noted the #1 horse in the 7th was "Acquainted."

Purchased at the Keeneland September 2006 sales for $90,000.

After one start as a three year old, he was running today for an $8,000 tag.

Not gelded or anything.

I didn't bet him, given the circumstances.

But, he won. Russell Baze up.

Not every day a horse who goes at a sale for $90,000 wins a race about 18 months later for an $8,000 purchase price.

I've gotta think he was claimed.

[Rupert Pupkin]

Originally Posted by westcoastinvader

DerbyCat....I thought about you today. I had a family event at the Pleasanton Fair meet, and had a neat story in my race I might share later.

Relevant to you, I noted the #1 horse in the 7th was "Acquainted."

Purchased at the Keeneland September 2006 sales for $90,000.

After one start as a three year old, he was running today for an $8,000 tag.

Not gelded or anything.

I didn't bet him, given the circumstances.

But, he won. Russell Baze up.

Not every day a horse who goes at a sale for $90,000 wins a race about 18 months later for an $8,000 purchase price.

I've gotta think he was claimed.

A lot of really expenses horses end up running in cheap claiming races. If you look at the 4th race this coming Thursday at Hollywood Park, there are a few fairly expensive horses in there. It is an $8,000 claiming race. Corvinus was purchased as a 2 year old for $110,000. Babcock Lake was purchased as a 2 year old for $100,000. Candy's Bro was purchased as a yearling for $90,000. All three of these horses are geldings. It's fairly common to see horses that sold for a few hundred thousand eventually running in cheap claiming races.

[magic_idol]

Originally Posted by Rupert Pupkin

A lot of really expenses horses end up running in cheap claiming races. If you look at the 4th race this coming Thursday at Hollywood Park, there are a few fairly expensive horses in there. It is an $8,000 claiming race. Corvinus was purchased as a 2 year old for $110,000. Babcock Lake was purchased as a 2 year old for $100,000. Candy's Bro was purchased as a yearling for $90,000. All three of these horses are geldings. It's fairly common to see horses that sold for a few hundred thousand eventually running in cheap claiming races.

A horse does not know how much it cost a slow gelding no matter what the breed is still a slow gelding

[freddymo]

I won at a 40% clip for a six month period and broke even.


JUICER lol

[DerbyCat]

Thanks everyone, a lot of good advice here. I'm going to Pleasanton this Saturday to do the paperwork to get my owners license and to open my account. My trainer is on the lookout for a good claim for us, I'm going to trust him to pick a good horse - he's got a pretty good win % 1st off the claim but you never know... I'm going into this with my trainer and another good friend (she's owned horses previously) so I'll only be committed financially for a third of the expenses (but don't worry, I've got enough in the bank to cover expenses for many months). I fully anticipate that I will lose money on this but I'm not doing this to make money - this is just another great life experience.

Thanks everyone, I'll keep you updated on who we get!