A Look at What Life is Like for the Average Racehorse

Racehorses have surprisingly busy lives.  These animals are busy even before the point in time at which they arrive at the trainer’s yard.  You read that right!  Horses are incredibly busy in the first couple years of their life, especially if they are pegged as candidates for racing.

The First Month of the Horse’s Life

Some foals have already moved with their dam to an appointment with a selected stallion as soon as the first month of their life.  It is fascinating to consider the fact that certain foals have witnessed more in their brief lives than some older horses have seen in entire lifetimes.

There is the potential to sell thoroughbred horses as foals.  In other cases, these horses are sold as yearlings.  In some situations, horses are sold at two years of age.  The sale of two-year-old horses often occurs at what has been dubbed as Breeze Up sales.  In some cases, the breeder sends the horse directly to the trainer without entering the sale ring.

The Process of Breaking in the Horse

Horses are typically broken in around the age of a year and a half.  By this point in time, horses are used to being handled and having a bit in the mouth.  At this age, horses are comfortable donning rugs and passing through examinations performed by various people.  The manner in which the horse is broken in hinges on the unique trainer’s nuanced preferences.  Certain horses are broken in with conventional methods.  As an example, some trainers rely on long reining to break in horses.  Once the horse passes through this stage, it is time for it to accept the presence of a rider above.

As soon as the backing stage is over and done with, the horse is ridden away.  This is the point at which the horse is taught to venture out with other horses.  In most cases, an experienced older horse will lead the pack.  The young horses might be taught how to canter in groups by others so the features of each particular horse can be identified.  Horses are also tasked with trotting figure eights and riding away from others.  As soon as horses pass through this portion of training, they should be provided with a few weeks of quiet time to relax.  This period also presents an opportunity to learn how to gallop.  At this stage, horses are typically ridden in long stirrups with walk, canter and trot being performed in a different direction each day to ensure the animal’s muscles develop in full.

As soon as the horse reaches an acceptable fitness level, it might be time to visit main gallops.  These gallops rise in a gradual manner to enhance muscle strength as well as the horses’ cardio performance.  The horses will likely hack with a canter and slowly boost their speed until they can perform sharp work.  Such work requires jumping off and subsequently breezing several furlongs.  The point of this exercise is to teach the horse to jump and run.  Jumping and running is fundamental to horse racing so the earlier the animal learns the basics the better.

The work described above is commonly performed with another horse nearby.  This approach teaches the horses that they should race one another yet it also helps teach them to settle and pay attention to the jockey instead of galloping wantonly without any concern for pace control.  Once the horses are near the point at which they are ready to run, they will be taught to enter and jump from the stalls.

General Rules for Riding

Racehorses are typically ridden in a distinct manner that is different from that used with the typical riding horse.  Minimal time is reserved for schooling the animal after the initial break-in period is completed.  The focus shifts to speed and fitness work at this point.  For the most part, racehorses hack to gallops on loose reins with minimal rider interference.  Racehorses tend to move out in a string and follow the horse in the front of the pack.

When transitioning to gallops, the rider will lean forward just a bit, lightly contact the horse’s mouth, stand in the stirrups and the horse will subsequently move off in canter.  It is up to the rider to bridge the reins to ensure a firm hold that guarantees the horse can lean against his or her hand.  If the rider alters his or her grip on the reins, the horse will consider it an indication that it should move faster.  Therefore, it is not advisable to change hands or shorten your grip on the reins unless you desire to ride faster.

What Life is Like for a Horse in a Racing Yard

Racehorses live quite the luxurious lives.  These animals eat tasty food, are properly cared for and receive prompt attention for all medical issues.  The average racehorse’s daily activities at the racing yard are typically centered on adherence to a strict routine that begins at dawn and extends until dusk.  The vast majority of racing yards have an individual designated to look after racehorses.  This individual eventually learns the horses’ idiosyncrasies to the point that he or she can pick up on their habits and tendencies and respond appropriately.

The average racehorse starts the day around five in the morning with a feeding.  Mucking out and riding occur between six in the morning and Noon.  Horses are typically exercised for an hour or so during this period of the morning.  The trainer oversees several strings of horses each day.  The second feeding occurs around Noon.  The early afternoon hours are commonly used a quiet period of time in which the yard shuts down.  Horses are given time to rest, the work crew eats lunch and things are allowed to settle down.

The late afternoon and early evening hours are reserved for stables when horses are skipped out, have their hair cut and are checked for injuries.  In some situations, horses will head out for some grass or proceed to the horse walker.   The late evening hours involve a late night check and present the opportunity for another feed.

Racehorses’ weekly exercise routine during the peak of the season is typically comprised of fast gallop sessions at least two times each week.  Steady trotting along with cantering are performed during the remainder of the week.  Sunday is often reserved as a rest day.  Horses in jumping yards might undertake schooling over jumps upwards of a couple times per week.

The Importance of Feeding

Feeding is an essential component of a racehorse’s training regimen.  The majority of racehorses are provided with three feedings per day at a bare minimum.  In some cases, horses are provided with four or more feeds.  Racehorses are limited to a specially formulated racing diet to ensure optimal performance.  The feed is rife with protein, fiber, starch, vitamins and minerals.

Off to the Races

Horses are usually fed about an hour prior to traveling on the big day.  Try to arrive at the course about three hours before the start of the race.  This early arrival provides your horse with an opportunity to relax in the setting where he will race.  This is also an excellent opportunity to give your horse some water and high-fiber feed.  Food and water should be eliminated from view at least a full hour prior to the race when the horse is removed from the stables and shifted to the designated ring to be saddled in the saddling boxes.  The horse is then walked to the primary parade ring where it is surrounded by throngs of people.  Hopefully, the horse remains calm and reaches the start safely.  It is assumed the horse will be able to walk around the front area of the stalls as the girths are checked.  As soon as the load up commences, the horses walk to the back portion of the stalls and load in a pre-established order.  This is a sensitive period of time so try to keep your horse as calm as possible.

Once the race ends, the winner is sent to the dope box where a urine sample will likely be taken to determine if any prohibited substances are in the horse’s system.  The horse is then washed and walked until dry.  The animal is provided with ample time to settle down prior to the drive home.  The horse is trotted up the next day to be examined for soundness.  As long as you do your part to maximize your horse’s potential, there is a good chance the animal will have a successful racing career.  Focus on the details as outlined in this piece and you will be well on your way to raising an amazing animal.

Breeding, raising and training thoroughbred racehorses is something that Richard Schibell has been doing for the better part of 30 years. While it is extremely difficult and taxing, it can be overwhelmingly rewarding. Richard Schibell Racing has had the privilege of breeding and racing dozens of high profile horses and will continue to do so throughout the country!

Everything You Should Know Prior to Breeding a Mare

If you are thinking about breeding your mare, take some time to study up on the subject.  Broodmare is a term commonly used to refer to a female horse that is relied upon to rear foals.  Broodmares are chosen with the anticipation that they will pass their genes down to their offspring and so on.  However, not every single mare qualifies as an optimal broodmare.  If you have a mare and are considering breeding, there are a number of things to consider prior to moving forward with the actual breeding.

“Breeding is more complex than most assume” says Richard D. Schibell, owner at Richard Schibell Racing.  This process requires more than bringing a mare and stallion together then raising the foal that results from the union.  Keep in mind there are countless undesired horses living in foster homes and rescue farms.  The sad truth is some such animals are riding the truck to the slaughter house right now.  The unfortunate reality of the situation is there are more horses in existence than welcoming homes.  So be sure to keep the following in mind when considering whether to breed your mare.

Consider the Cost of Breeding

The idea of breeding a mare to generate a foal might seem like a cheap means of obtaining another beautiful horse that has the potential to be a racing superstar.  However, it will cost a considerable amount of money to breed to an elite stallion.  It might take a couple thousand dollars to set up such a meeting.  There will also be vet costs related to the breeding.

Certain stud farms charge additional for mare care.  If the mare does not catch on the first try, more money will have to be spent to cover the extended stay.  Additional hormone injections and other necessary vet care will cost money to boot.  There is also a minor but very real chance of injury that has the potential to lead to even more vet bills.

Breeding is not the Same as Cloning

Plenty of people who are infatuated with their mare assume that breeding it will generate a foal just like the mare.  This is a commonly held myth.  The truth is there is no certainty that the foal will have the same size, hue or other attributes as the mare.  However, it will certainly help to select the proper stallion.

Breed in a Responsible Manner

Every single mare that is bred and each stallion used to breed has to be worthy of reproduction.  If mares that are poorly conformed are bred in an irresponsible manner simply with the hope of generating a coveted foal, problems will result.  The bottom line is mares and stallions must earn the right to rear a foal.  Broodmares must prove themselves as either a performance or pleasure horse, display coveted traits and show their genetics are worthy of being passed on.

Mind the Risks

There is the potential for things to go wrong when the mare is in foal, amidst the birth process itself and during the period of time following the foal’s birth.  Though the majority of such potential problems can be rectified with assistance from the vet, you won’t be able to identify the problem unless you know what to look for.  Furthermore, you will need the financial resources necessary to cover vet bills.  Add in the fact that caring for a sick foal requires additional time and it is easy to see why people to go great lengths to keep their horses healthy.

Caring for Broodmares During the Pregnancy

Successfully transitioning through a pregnancy will take some time, effort and additional consideration.  The mare should be examined for twins early in the pregnancy.  This early examination will also provide the vet with the chance to check for infections and additional problems.  Once the mare is about halfway through the period of gestation, it will be necessary to feed her in a manner that empowers her to maintain her health as well as the foal’s growth.  The mare’s workload will have to be reduced at this point.  Once the 9-month mark is reached, the mare should be ridden infrequently.  All riding should cease immediately prior to the foaling date.  The mare should be analyzed by the vet who will explain which vaccinations are necessary.

A Space to Foal

If you do not have a place set up for your mare to foal, do not panic.  You can easily establish a fairly spacious stall that measures 12 feet by 12 feet.  Make sure this space is deeply bedded, sturdy and well-protected.  Check the stall for safety hazards that have the potential to hang up your foal.  Make sure  your foal will be completely safe from other horses that have the potential to steal feed or harass the youngster.  Once the foaling date nears, monitor the mare to gauge the point at which the pregnancy will occur.

After the Foaling

Once the mare has foaled, you will have to do certain things.  For one, you should verify the foal is healthy, whole and breathing.  If the foal looks sick or anything else is wrong, contact the vet.  Furthermore, the mare should be examined for injuries that might have occurred during the birth.  Watch the foal in the days after the birth to ensure the little one is properly hydrated and not suffering from an infection.

It will take upwards of several years of training before the foal can serve any meaningful purpose.  There is the potential for injury or illness to derail the young horse’s progress.  Make sure you have a backup plan in place just in case something were to happen to you or the horse’s caretaker.  This way, the money, time and effort you have invested in your young horse will not be put in jeopardy due to a temporary setback.

Breeding your first Mare is one of the biggest and most difficult decisions that you can make with your horse. Continue to read the Richard Schibell Racing blog for more information and tips regarding breeding and raising your foal.

A Look at how Horses Have Been Transported Throughout the Years

Can you imagine living in an era in which horse trailers did not exist?  It was not long ago when horses were used for transportation rather than for show and competition.  Let’s rewind the clock to years prior when horses played an extremely important and useful role in everyday living.  When one of these valuable animals had to be transported across a considerable amount of space, they were moved on foot.  This laborious process was quite straining compared to the modern day convenience provided by horse trailers.

The Early Days of Moving Horses

Prior to the days of horse trailers, people moved horses across vast distances on foot.  This process required a considerable amount of time and energy.  Those willing to make the walk across difficult terrain and through inclement weather ran the risk of exhausting the horse yet their effort paid considerable financial dividends.  Some horse traders traveled several thousand miles to buy and sell horses.

Shipping Horses Over Water

Horses have been transported across water way back in the days of Ancient Greece.  Records show horses were transported in boats as early as 1500 B.C.  These animals were eventually shipped in boats for war purposes during the Middle ages.  It is a shame that horses were subjected to horrible conditions on ships and eventually, oar-powered boats.  Horses were kept in slings aboard the deck or tethered down tight and boxed in tiny spaces within the hold.  It is no surprise some such horses transported in these diminutive spaces perished en route to their destination.

There were no loading ramps for horses in the early days of boating.  It was quite the chore to get these animals on and off ships. United States Army Veterinary Corps’ General William Carter has since detailed research that indicates how slings and other restraints for horses are unsuitable for these animals.

Equine Rickshaws and Modern Day Horse Trailers

Horse vanning debuted in the 18th century.  This approach to shipping horses across vast expanses of land was centered on horses transporting other horses as though they were a form of cargo.  This is certainly a slow and odd means of transporting horses yet it proved fairly effective.  Vanning first began way back in the late 18th century when a modified horse-drawn van was built to protect the feet of the beloved English racehorse Eclipse.  This is the unofficial beginning of the horse trailer.  It took until the early 19th century for vanning to reach the mainstream.

Transporting Horses by Train

The railway expansion in the 20th century made it possible to transport horses by train across considerable distances in a reasonable amount of time.  The only problem was horses hated being trapped inside dark, loud boxes for these railroad trips.  Add in the fact that the animals were tied in place with short tethers and riding the rails proved quite traumatic.  Nowadays, head bumpers, shipping blankets, leg wraps and additional protective gear are used to keep horses on trains safe and comfortable.

Richard Schibell has over 35 years of transporting his race horses and breeders. As you can imagine, he and Richard Schibell Racing have gone through numerous trailers and various forms of transport to move their horses throughout the country, as well as overseas. Learn more about Richard D. Schibell and his racing career over the past 3 decades.

Interesting Horse Breeding Facts Worth Knowing

The average person does not know much about horse breeding and there is nothing wrong with that.  Owners like Richard Schibell who work in the industry or those who just dabble in horse breeding, operate in an exclusive niche of sorts.  Let’s take a look at some of the more interesting facts about horse breeding that are typically limited to those who work in the industry.

The Type of Mare Matters a Great Deal When Selecting a Stallion for Breeding

Be careful when choosing the type of mare to breed your new horse.  Carefully consider the merits and drawbacks of the mare in question before proceeding.  If your aim is to make the pedigree faster, stronger or have improved stamina, make the appropriate selection before moving forward with reproduction.

The Stallion’s History is of the Utmost Importance

In order to breed a winning racehorse, you will likely need a thoroughbred stallion with a track record of success.  Take a close look at how prospective stallions performed on the racetrack.  The best indicator of future performance is previous behavior.  If you notice any clear flaws in the stallion, this is the time to explore them as there is the potential for such defects to resurface in offspring.

Cost is Important Yet It Should not be a Deal-breaker

Cost is a key component of breeding.  If your budget has strict limitations, there is a good chance a considerable number of stallions will be out of your price range.  If this is the case, you will have to carefully select the best of the available selection and hope for the best.

Stallion Breed is a Top Consideration

Thoroughbred horses are revered for their speed, agility, balance and racing prowess.  These horses were originally developed way back in the 17th century.  Oriental stallions and English mares were introduced to generate muscular stallions with fantastic racing bloodlines.

Consider the Location and Services

If you do business with a small group, there is a much better chance your mare will be provided with individualized attention.  The stud will mind to the horse’s needs and get to work as soon as possible.  However, horses do not begin to cycle until the winter months come to an end so some patience might be necessary.

These 5 tips can make or break a successful effort in breeding a thoroughbred stallion. Richard Schibell has been breeding stallions for decades and speaks from first had experience both in and out of the stable. If you have any questions regarding breeding or preparing for your first attempt, contact Richard Schibell Racing today!

The Best Questions to Pose to Your Horse Hauler

If you are thinking about hauling your horse across the county, state or beyond, do not give your business to any old horse hauler.  Meet with prospective horse haulers to find out about their services and pose some important questions.  Below, we take a look at the top questions to ask your horse hauler before handing over your horse for transportation. These are the same questions that Richard Schibell has been asking his haulers for decades!

Are additional services beyond the bare minimum available for higher fees?

If the horse hauler provides tiered services, find out what the higher fees provide.  If paying a bit more provides niceties ranging from comfortable accommodations to superior safety equipment or video surveillance of your horse while on the way to the destination, consider paying for the perks.

How long will it take to transport my horse?

You should be mindful of the time your horse spends on the big rig.  The average horse can easily endure a trip of two to three hours while positioned in a standing stall.  However, if the horse is traveling beyond a couple hours, a box stall should be used.  This way, the horse’s head will be free so it can move downward to permit mucous to drain out of the nose.  This drainage is essential to preventing illness.  Furthermore, providing the horse with additional room allows it enough space to move around.

If you are temped to bypass the horse hauling service and use your own trailer or van, do not do it.  Take the cheap route and you will almost certainly regret it in the end.  Big rigs have air-cushioned suspensions that really do decrease the stress applied to the horse’s body, making the trip that much more comfy.

What happens if there is a mechanical breakdown?

One of the worse possible outcomes of a horse haul is being stuck on an interstate road with a group of horses in tow.  A mechanical breakdown amidst a horse haul is a legitimately dangerous situation.  The best horse haulers perform consistent vehicle inspections and conduct preventive maintenance with regularity.  However, if a mechanical breakdown occurs, you should be aware of the company’s protocol.  You deserve to be aware of the safeguards in place to ensure your horses are safely transported.  Furthermore, you should know if the trip will be canceled, delayed or continued after the unexpected occurs.

What will you do if my horse needs veterinary care?

Ideally, the driver hauling the horses will be experienced with these animals.  The driver should check on the horses every now and then.  As long as he or she is experienced handling horses, it will be fairly easy to determine if something is wrong during the haul.  The driver should also be trained to provide equine first aid in the event of an emergency.  The business should provide each driver with a list of equine vets stationed along the way to the destination.  Furthermore, the driver should be willing to communicate with you immediately after health problems are noticed.

 Can I contact the driver at any time?

The best horse haulers are never too busy or too far off the grid to take a phone call.  The bottom line is you should always be able to reach the driver, regardless of his or her location.

What do you do to keep the transportation vehicles clean?

The big rigs should be thoroughly cleaned and fully disinfected between runs.  This thorough cleaning is essential to preventing disease and thwarting substances that have the potential to trigger a positive test following the race.

Is the driver qualified to transport my horse?

Any old big rig driver will not suffice for a project of this magnitude.  The truck driver should have a commercial driver’s license, known as the CDL.  Two drivers should be available just in case one becomes incapacitated.  A two-driver setup also allows one driver to sleep while the other drives.  This approach will ensure your horse reaches its final destination as quickly as possible.  However, it is a mistake to have two inexperienced drivers working alongside one another.

Find out about the drivers’ experience levels and whether they have been vetted in terms of background checks and drug checks.  Take a good look at the drivers when they arrive to pick up your horses.  If the drivers appear fatigued or off in any way, contact the company to make them aware of the development.

What is the horse hauler’s safety rating?

Take a look at the Company Snapshot database provided by the Federal Motor Carrier Safety Administration.  This database provides helpful safety information about horse haulers.  The information includes the carriers’ safety ratings along with a summary detailing the roadside out-of-service inspection information and crash data.

Consider What Former and Current Clients say About the Horse Hauler

Perform a Google search to find out what others have to say about the horse transporter you are considering.  You can also pick the minds of those in the industry to gauge which horse movers are ideal for the haul you have in mind.  Just be sure to give some leeway to companies with a negative review or two posted to the web’s online review directories as a single customer’s warped view has the potential to portray the company in an unjustified dark light.

In the end your not just paying for the haul itself. The peace of mind that your horse will arrive safely and in a timely matter is with the extra price tag. Richard Schibell Racing has gone great lengths in sourcing the best haulers in the country to ensure that their horses are given the best treatment possible. Do the same and make sure your animal is in good hands!




A Beginner’s Guide to Horse Racing

Are you planning to spend the day watching Richard Schibell Racing and maybe place a bet? If you are looking forward to making money on the race, you must know how horse racing works and how to place your wager. If you are still new to this game, here are some things to remember so that you will have a successful day.

Buy a program and a racing form.

Richard Schibell, the owner of the Richard Schibell Racing, prints the program and form for people to buy. The program and the racing form are excellent sources of betting information. You will see the schedule of the horses, the jockey that will ride them, and the morning line odds, a prediction on which horse will get the most number of bettors.  Most people refer to the odds when making their bets.

Choose your seat.

If you want to have an excellent view of the race, Richard Schibell has provided comfortable seats for a fee. You can sit in the clubhouse,  in the box seat or in the reserved area.

Check out the horses.

After you have studied the program and the racing form, you might want to see the horses at the Paddock, where the saddles are placed on the horses and where they are made to walk around the ring. Choose a horse that looks alert but calm, has a shiny coat, and appears ready to run. Avoid one that is sweating if you want to win.

Richard Schibell Racing

Once you have decided on a horse, it is time to place your bet.

In horse racing, you are not trying to beat the house, but the other bettors around you. Your winnings will come from the pooled wagers on your horse. The management has nothing to lose when you win so that you have a bigger chance of winning than when gambling on a casino. When placing your wager on the window, tell the clerk the name of the track, the amount of your bet, the type of bet, and the number of the horse that you are betting. There are several types of bets at Richard Schibell Racing. For a beginner like you, “Win” is the easiest to understand because you win when the horse that you bet on reaches the finish line first. You can also bet on “Place” or “Show”. “Place” means that you win when your horse finishes first or second while “show” means that you win when your horse finishes first, second, or third place.

Watch the Tote Board.

The Tote Board displays important information about the race such as the odds of each horse for win, place, or show. You will see on the board the race number, pool total or total bets, and the results.

Remember these guidelines and enjoy your first day at Richard Schibell Racing. The next time you come, you will already know where to sit, where to see the horses, and where and how to place your bet.


What to Know about Thoroughbred Race Horses

Have you seen a Thoroughbred running on the race track? With its sleek and agile body, as well as an athletic build, these breed is born to win races. These animals are considered hot blooded because of their phenomenal speed and agility. Their winning streak in horse races has made them one of the most sought-after, and the most expensive horse breeds in the world.

The Thoroughbreds are the most popular runners at my race tracks, the Richard Schibell Racing. These breed of horses are famous for agility and speed. I am Richard Schibell, and I own and train several Thoroughbreds.

But, although the Thoroughbreds are the most popular racehorses, not everyone knows their origins and why they are so fast and powerful. Here are some fact that will educate you and help you recognize a real Thoroughbred in the racetrack or the auction.

Thoroughbreds come from only three stallions and Royalty mares.

Some people think that a Thoroughbred and a Purebred are the same, but they are not.  A Thoroughbred is a Purebred, but a Purebred may not be a Thoroughbred. A Purebred is a horse that is born of a father and mother of the same breed while a Thoroughbred comes from only three stallions that served as the foundation stock. These male horses were the Darley Arabian, the Godolphin Barb or Godolphin Arabian, and the Byerly Turk. They mated with mares that belonged to James I and Charles I of England; hence, they were called Royalty mares.

Racehorse champions have bigger hearts.

Majority of the Thoroughbreds normally have a small heart. However,  the fastest ones were found to have enlarged hearts. Secretariat, an American Thoroughbred had a heart that weighed 22 pounds. He was a triple crown winner for 25 years and was considered as the fastest racehorse during his time. Another contender for the Triple Crown was Sham whose heart weighed 18 pounds.

Thoroughbreds have the most number of wins.

When one considers the number of wins in horse races, the Thoroughbreds had the most number compared to other horse breeds. Many of them have broken world records and made history. Because of this, Thoroughbreds are the most expensive horses. One two-year-old colt was sold for $16 million. Another Thoroughbred earned the title World’s Smartest Horse after correctly identifying 19 numbers in one minute.

Most Thoroughbreds have variations of brown and gray colors.

While most Thoroughbreds have brown or gray coats, and sometimes black or gray, which are very rare, there are ones that have different hues. Other color combinations include smoky black, smoky cream, and spotted although the Jockey Club in the United States does not register these Thoroughbreds.

Richard Schibell

Thoroughbreds have been created for racing.

People who breed Thoroughbreds do so for horse racing. A great racehorse can bring fortune to the owners. The prize can amount to hundreds of thousands of dollars. Aside from the prize, the owners usually wager a huge sum, and when the horse wins, they can realize a good income.

If you want to know more about horse racing, visit us at Richard Schibell Horse Racing. You can see take a look at my Thoroughbreds, and watch them during the race.

Important Things to Know about Owning a Racehorse

Richard Schibell Racing

Derby season is just around the corner. There will be thousands of racing enthusiasts watching the Kentucky Derby live, with millions watching from their television sets. Kentucky Derby dates back in 1875 and has been the longest-running horse racing event in the American History. The first event was held on May 17, 1875, and used to be a part of the Olympics Games. It has been the most heavily wagered sports event with a record of $194.30 million on-and-off the tracks in 2015. On a yearly average, the Kentucky Derby has recorded about $130 million bets. This does not include millions more of wagers on the black market.

With these massive millions on the records and rising interests in horse racing, you might wonder if it’s more feasible to own a racehorse (or become part-owner). Or would it be safer to simply plunk down your bets with the masses?

Richard Schibell has been a lifelong Thoroughbred racing owner and enthusiasts since 2000. He has garnered a total of 38 firsts and 308 starts since the start of his career.

So you want to have your own racehorse wishing they could be the next Richard Schibell racehorses? Or perhaps get your hands on that 14-karat gold trophy? It could be possible but quite be challenging. Whether you are considering a sole ownership or racing partnerships or having a few friends together to own a racehorse, here are few considerations that will set your level of expectation and help you live your journey to doing things you love the most.

  1. 1. Racehorse prices are dependent on the current economic trends

Like all financial investments, the market for racehorses reached its lowest peak in 2009 during the heart of the Great Recession. A lot of Americans have felt the impact of the recession and investing on a horse seemed like an irresponsible decision to make.

Since then, racehorse prices have increased drastically. A record from The Jockey Club showed that in 2009 and 2010, the average price for a yearling was around $40,000. This has increased to $60,000 by 2013 and maxed at $65,000 by 2015. And those are only average prices – some prized horses could reach up to hundreds of thousands of dollars.

During the past years, the median price for a yearling – a racehorse that is about 1-2 years old – has been in the low- to mid $20,000. The Thoroughbred Owners and Breeders Association reported that inexpensive horses can be owned starting at $10,000 which most of the time you shared with some other owners. It is advisable to buy horses when the economy is low or join an organization where you can have 5% or 10% of the shares. That way you can still learn the basic ground rules and avoid any costly mistakes.

Richard Schibell Racing owns Thoroughbred racehorses since 2000 and has been winning in the majority of the events. He has earned average earnings per start of $3,979 from 2000 to present.

  1. 2. The initial value is only a portion of the total ownership cost

Owners like Richard Schibell must take care of expenses to ensure that the racehorses are all geared up for the event. If you want to invest, you have to foot the expenses for housing, training, and feeding of your horses. This does not include additional expenses for veterinarians and race-entry charges. All these could amount to about $60,000 or more per year.

  1. 3. Some racehorses do not offer a great return on investment

Most novices would think that once they own a racehorse, they are guaranteed to get rich and can have an early retirement. Actually, owning a racehorse is a risk and for some, it is a money-losing deal.

Experts advised not to invest in racehorses unless you are passionate and dedicated to the sport. When you invest in something as risky and big as this, you have to think of this as a disposable income. In this kind of sport, the chances of losing are about 90%.

To be one of the top earners like Richard Schibell, you have to know that spreading out your investments on multiple racehorses will increase your chances of a higher return and achieving your goals. Richard Schibell racehorses do not include one but more than 20 Thoroughbreds. His top horses Marg of Beauty and Thinking of Mom have average earnings of $147,770 and $109,360, respectively.

The common mistake most amateur enthusiasts make is entering into this sport and putting all their eggs in a single basket. It is always difficult to hit the jackpot with a single horse for the first time. This could and may happen – beginner’s luck as they say. In reality, this dream could only come true 20% of the time.

  1. 4. Owning a racehorse can be intensely fun

Owners like Richard Schibell love what they are doing and consider this investment as an “expensive hobby” rather than a “risky business venture”. A lot of people enjoy sports better if they are passionate or have an emotional attachment to it. Experiences that intensify a Thoroughbred ownership include a genuine love for the racehorses, a chance to be participants instead of an observer, the adrenaline rush from seeing your runner compete, an opportunity to race at the highest levels of racing events, and social encounters with like-minded aficionados, and if luck is at your side, the excitement of being a Kentucky Derby challenger.

Breeders like Richard Schibell Racing believe that this kind of sport is a tricky business that needs patience, perseverance, skill, and an enormous amount of luck.

  1. 5. If you get fortunate, your payoff will be tremendous

Gambling can be fun and thrilling, but when you get involved on a more personal and deeper level, the stakes are huge and payoffs can be massively rewarding. Since he started in 2000, Richard Schibell has garnered an accumulative earning of $1,225,500. Of course, it did not happen overnight.

If you want to own a racehorse, you have to understand that not all investments pay off big time. There might be some exceptions, but in reality, most racehorse owners, spend hundreds of thousands of dollars before actually hitting the jackpot.

In conclusion, if you want to own a racehorse, you have to make sure that you put your heart and soul into it. Always figure out ahead of time what are your personal ownership goals. These goals will determine what kind of racehorse owner you will be. The thrill and excitement you will feel from this ownership will depend on those goals and how you want to achieve them.