Frequently Asked Questions about buying into a Racing Syndicate
This page of answers to standard questions about our service is for prospective syndicate members. If you are a prospective Syndicate Manager, then see our FAQ just for you.
Buying shares in a syndicate
- How do I buy a share?
- What protection do I have - is it safe?
- How do I know what I'm buying into?
- Does Syndicate Manager provide me with some sort of guarantee?
- What should I expect to pay?
- Should I/Can I view the horse before buying?
- Am I a proper Owner if I only have a share?
Using the Syndicate Manager Service
- How much does the Syndicate Manager service cost?
- I'm already an owner - how do I get your service?
- How do I know whether the share I buy allows me to use the SyndicateManager.com service?
- My trainer doesn't use SyndicateManager.com - why?
- I've been sent an activation email, but don't know what to do...
- What is a syndicate?
- What do I get for my ownership?
- Will I make money and get insider tips?
- Do I get a share in prizemoney and Owners Badges for the races?
Buying shares in a syndicate
How do I buy a share?
Buying your share in a racehorse can be straight-forward. But it does depend on how that particular syndicate is set up. Generally, there are three ways you will become involved:
1. Your Syndicate Manager will manage the entire process for you, including setting up your Syndicate Agreement and Direct Debits. If the syndicate is managed using the SyndicateManager.com service, we do all of this automatically, online.
2. The Syndicate Manager will do all the financial setup and paperwork directly with you by email and phone once you make your request to them.
3. The Syndicate will be Trainer managed and BHA Ownership based, which means you will be required to register as an owner with Weatherbys and will receive all bills and monthly training invoices by post or email from your trainer and Weatherbys.
IMPORTANT: If you are buying an outright share in a racehorse you should ALWAYS ask for an Agreement which states your percentage owned and your rights.
I'm doing this for the first time - what protection do I have?
If you purchase a share in a syndicate through SyndicateManager.com which is also managed using our service, we provide a number of guarantees. We can do this because we will have checked the people operating the Syndicate and the trainer, and because to use Syndicate Manager we insist on certain standards being applied to every shareholder/owner. Shares bought from our Syndicate Listing which do not use our full service are NOT guaranteed in any way - not because they are lesser syndicates, but because we have no control over their service levels.
How do I know what I'm buying into?
Any syndicate which is run properly will either have terms and conditions or a dedicated Syndicate Agreement which you will be asked to sign up to. This agreement is usually fairly straight-forward and lays out how much you own, what you need to pay, any extras which are chargeable and what happens when you leave the syndicate or the horse's racing career comes to an end. If the syndicate cannot or will not provide an agreement, then you should consider whether you wish to take this risk.
Does Syndicate Manager provide me with some sort of guarantee?
YES. If the syndicate is managed using our suite of tools (SyndicateManager.com) then we can guarantee you will receive a Syndicate Agreement with guarantees on your percentage, the price and the level of service provided by the syndicate. You also have peace of mind that the syndicate has been checked by ourselves and has met our required standards. If you choose a syndicate not managed using SyndicateManager.com, the Syndicate may provide guarantees, but we cannot vouch for them.
What should I expect to pay?
This will depend on whether you are buying a short-term membership of a Racing Club, leasing a percentage, or buying a percentage outright. Club membership and leasing can start at very affordable prices - from as little as a couple of hundred pounds a year - whilst buying a share outright (which is usually the case with most of the shares featured in our Syndicate Listing) is more expensive. That's because you generally benefit more from owning a fixed percentage. As an indication, an average horse 2YO sales will cost £10,000 to £20,000, and then the ongoing cost of the horse for training/vets/entries/racing expenses will be from £22,000 to £60,000 per year, depending on your trainers fees, the number of times it races and the quality of the races. It is almost always the training fees which are your greatest cost when owning a racehorse.
Should I/can I view the horse before buying?
YES. Most syndicates will be more than happy to arrange for you to drop into the trainers yard to view a racehorse before you decide to go ahead. However, it is not essential - if you can see that the horse is already racing regularly, or can speak with the trainer/syndicate manager about the horse, that may be enough. Some trainers will be able to provide veterinary evidence that the racehorse has been 'vetted' recently - and what the results were.
Am I a proper Owner if I only have a share?
YES. The fact that you may not be registered by name with Weatherby's is not important. If you are guaranteed Owners badges, can visit your trainer/racehorse at the yard, receive updates and all sorts of media regarding the horse's exploits, you are recieving all the benefits of being an Owner - and will be treated as an owner at the racetrack. In fact, not being registered at Weatherby's is a major way of making ownership affordable for smaller shareholders, as it cuts down on unneccessary paperwork and cost.
Using the Syndicate Manager Service
How much does the Syndicate Manager service cost?
If you are an Owner, the SyndicateManager.com service will cost you nothing. We charge our services to the person managing the syndicate - usually the trainer or a professional syndicate manager. To get access to the service, you will be invited by your Syndicate Manager once you have paid for your share.
I'm already an owner - how do I get your service?
If you have bought a share through SyndicateManager.com then you will gain access to the reporting system via an email invite, about 12-24 hours after the Direct debit has been set up. If you have a share in one of the horses being managed through SyndicateManager.com, then speaqk to your Syndicate Manager about getting an account. If you are part of a syndicate and would like to benefit from the service we provide, have a word with the person who runs your syndicate and ask them to make a syndicate request.
How do I know whether the syndicate allows me to use the SyndicateManager.com service?
Check the details page for the Syndicate, and on the left hand side, it will state whether the syndicate uses SyndicateManager.com for its management. Please remember that if it doesn't use our management facilities, it doesn't mean you should discount the syndicate out of hand.
My trainer doesn't use SyndicateManager.com - why?
The chances are, they do not realise a service of this kind is available. Speak with the person who runs your syndicate and ask them to make a syndicate request.
I've been sent an activation email, but don't know what to do...
No problem - just follow the link in your activation email and the page you reach will give you full details on how to get your account activated.
What is a syndicate?
A 'Syndicate' is a group of people who share in the ownership or benefits from the ownership or involvement in an activity which usually has the chance of winning prizemoney. In terms of a racing syndicate, the benefits are not just prizemoney - there are other benefits, such as going racing as an Owner.
What do I get for my ownership?
This depends on the syndicate you choose. However most syndicates will include a share of prizemoney, a guaranteed Owners Badge when the horse races and access to the horse at the trainers yard.
Will I make money and get insider tips?
There are no guarantees when owning racehorses. You could choose well, and get winners and prizemoney - that is the dream. But you could just as easily wait a long time for the horse to race, find out it is only very moderate and never even see a racecourse. You MUST understand that owning a racehorse is probably the most costly and risky use of your hard-earned money you can find - but it can also be the most rewarding! NEVER buy a share in a racehorse if you cannot afford to pay the monthly training fees and instead rely on the horse winning prizemoney, or getting great betting tips.
Do I get a share in prizemoney and Owners Badges for the races?
YES. Almost all leased and outright shares will offer Owners badges of some description, plus your share of any prizemoney. Racing Clubs may not offer badge guarantees, instead using a ballot system. Reading the details of the syndicate will tell you exactly what they offer with each share.