Before you buy: the questions that matter
These are the things we look for in every operator's published terms, written as the questions you'd ask yourself. If you can't find an answer, ask the operator before you sign. It's a normal question, and they'll expect it.
Costs
Can I check where the horse was bought?
A sale catalogue lets you check the horse's details for yourself.
If it’s a racing club: A club member owns no part of the horse, so this matters less for a club.
What did the horse cost?
It tells you how much of your share price is the horse and how much is everything else.
If it’s a lease: You don't own any part of the horse, so none of what you pay buys it, and this matters less for a lease.
If it’s a racing club: A club member owns no part of the horse, so this matters less for a club.
What happens if the costs run over?
Vets' bills and other surprises have to be paid by someone, and it may be you.
Is the horse insured, and who pays for it?
If the horse dies or cannot race, insurance decides whether anything comes back.
Can I see the price without having to ask?
A price you can only get by enquiring is hard to compare with anyone else's.
The term, and the end of it
Can I read the full written terms before I sign?
Everything else on this list should be in them, in writing.
What happens when the term is up?
Some shares renew automatically and some end; you should know which before you start.
What happens to the horse at the end?
Sold, retired or kept on, the answer decides whether anything comes back to you.
If it’s a lease: You usually get nothing from a sale, so ask when the lease ends and what happens to the horse then.
What happens if the horse is injured or retires?
A good home for a retired racehorse costs money, and it's worth knowing who pays.
If the horse is sold, do I get a share of the money?
With a share you usually do; with a lease or a club you usually don't.
If it’s a lease: You don't own any part of the horse, so expect the answer to be no.
If it’s a racing club: A club member has no claim on a sale, so expect the answer to be no.
What members get
Who gets the prize money?
Winnings may be shared out, kept to cover costs, or a mix of the two.
How many owners' badges will I get, and how are they shared out?
A badge is how you get into the owners' areas on raceday, and there are only so many.
Can I visit the horse at the yard, and how often?
For many owners the mornings at the yard are the best part.
What's the most people who can share the horse with me, when every share is sold?
The more owners, the fewer badges and visits to go round. Members can buy more than one share, so there are often fewer.
How you'll hear
How often will I hear how the horse is doing?
Regular news from the trainer is much of what you are paying for.
Who you're buying from
Who do I go to if something goes wrong?
A written complaints process means there is somewhere to take a problem.
Can I see its BHA registration?
Syndicates and racing clubs should be registered with the British Horseracing Authority. The BHA doesn't publish a register, so ask to see it.
Is the operator a member of the Racehorse Syndicates Association?
The association is the trade body for racehorse syndicates.
How long has the operator been doing this?
A track record tells you something a brochure can't.
How many horses does the operator run?
It gives you a sense of their size and experience.
Have the operator's horses won races?
Winners are not the whole story, but they are part of it. If there isn't one, that's still worth knowing.
Built from the checklist we compare offers on, so it changes when the checklist does. How we compare.