Understanding the jargon
This page helps to explain the way racehorse ownership works and some of the jargon used on our racehorse pages
- One Off: a single payment covers all fees, usually for a season;
- Fixed: There is a set fee, usually paid every month;
- Variable: You are charged a variable cost, usually every month, which is dependent on trainers fees and the horse's activities.
Most syndicates prefer Direct Debit (for which you require a bank account), however you may be asked to pay by credit/debit card, or by cheque/electronic payment. Some trainers who run syndicates still invoice by post and require payment by cheque or electronic transfer within 30 days.
- Credit/Debit Card - usually used for one-off payments for small share season leases;
- Standing Order or Direct Debit - now the most popular form of training fees payment;
- Cheque - Usually only accepted if you have 20%+ share in a horse or more.
If a syndicate requires each of the owners to have their own individual Weatherbys bank account it will be indicated in the horse's profile. You should factor in this extra cost to your budget, as you will pay your share of entries, declarations, jockey and gallop fees directly to Weatherbys each month. However, it also means you get paid your prizemoney direct as well. Like any bank account, there are costs associated with being a registered owner with Weatherbys. Your trainer or syndicate manager will give you advice on setting up an account if needed.
Many of the syndicates who advertise will also use SyndicateManager.com to help manage their owners. If this option is set to YES in the horse profile page for the syndicate, you will be guaranteed a quality syndicate management service. See the Owners and Trainers area of the website to learn about our service.
Our Owner Set-up Process
In order to become a member of a syndicate via SyndicateManager.com, you will be required to provide your name, contact details and digitally sign a Syndicate Agreement. Depending on how the syndicate is set-up, you may also be requested to complete an online direct debit mandate (which requires your bank details) for your training fees. However, the entire process only takes a few minutes, and with the Direct Debit Guarantee, you are always covered.