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Thoroughbred Racing is Risky, But Could Pay Big

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  • Description

    FBN's Cheryl Casone takes a look at the business of thoroughbred horse racing.

  • Duration 2:50
  • Date

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It is I'll support at -- Thorough -- racing last year alone ten point seven billion dollars was wagered on this board.

One point six billion dollars handed out in prize money.

But if you wanna get -- on the action.

Be ready for a big.

Gamble.

The economy and now.

Founded 1898.

Fast attention is the oldest thoroughbred company in the nation.

And over time is select yearling sale -- every summer -- have a New York has become one of the premier options in the world.

And all the get -- 1917.

And now draws millionaires and billionaires from all over the world.

All of -- open to score the winning bid and take on the sports next big champion but let's betting on the races that attract buying an individual horse of fast -- -- -- a risky proposition.

None of these horses -- -- before even been written.

And since they're only one year old buyers are betting on a -- is promise circles potential performance on the track.

Each horses value determined almost exclusively by their bloodlines.

If their parents or grandparents for champions they're likely to fetch a high price sometimes more than a million dollars.

-- to casings and -- I mean you know.

Hundreds of thousands doesn't buy you the best in this business -- -- -- -- to happen say the horse gets sick or injured that million dollar.

But if you have a horse that hits its stake the payoff.

Massive sixty million dollars that was the most expensive course ever sold.

And there are plenty of ways to get -- on the -- for those of -- -- aren't millionaires there are ways to -- -- I think the best way to get at least business these days is -- -- something that's syndicate.

Where.

If you can -- you can -- 54710%.

Of course what may be.

5% of five forces and this we have a lot of funds tracking the vehicle.

-- -- -- get.

You get yourself educate.

-- -- the average investor stake in -- resource as little as 101000 dollars the making money on horse racing doesn't even always involve raising them.

Some owners called -- hookers by yelling and and trained and try to them for a higher priced.

We asked a question and the country itself for two and a half times what we're gonna -- -- and that you know if if we think they can do that and that's -- -- are.

-- -- -- -- -- -- -- -- -- Your mistakes of course the ultimate goal of any thoroughbred investor is to be here in the winner's circle.

And all the owners will tell you it takes three thanks again here patients passion.

And -- to win.

Cheryl Casone Fox Business.

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