Are Entry Fees something that are paid by higher or lower quality horses? A quick search tells me that Entry Fees have something to do with trials? Is that like a time trial run for the horses to know what horses to put that one up against? On that note, what are the other criteria for deciding what horses are going to race what other horses? Does the owner or trainer have any say in what specific race a horse runs?
It makes sense that, the older a horse gets, the less it sells for. What does it mean for an animal to be an allowance horse? I assume if a horse is performing extremely well it might sell for more money as it approaches the peak of its career; is that what happened with the allowance horse you sold for 50k? How much did that one cost when you went in on it...or how much did it cost before you went in on it if it had already been purchased by then?
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Other than the allowance horse the other three were considered in the basement claiming type horses for Belmont. The quality of horse can get much worse at many other tracks like Rockingham. In the winter most of the real good horses will ship to other tracks like Florida. That’s when my horses were in many races at Aqueduct. The cards in the winter are usually loaded with shit quality horses. We could usually meet entry requirements for each of them like once every two weeks. Some times every week. When the good ones came back, we had to wait to find a spot for them where they would be eligible and competitive.
What are the Entry Requirements? Does it just have to do with trial times or do previous racing results come into play at all? It sounds like you decided to keep your horses up north deliberately to race against weaker horses rather than sending them down to Florida to race against the good ones---that's a sweet AP move it sounds like to me!
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Purses were all over the place. I’d say could be from $25K to $45K (basement bracket) depending on the race being offered. First got 60% second got 20% forgot the rest but I think they paid up to 5th. If you came in the money you had to pay 10% to your trainer and 10% to the jockey on any winnings. You also had to pay the jockey $100.00 dollars just to ride your horse win or lose. Some were even more. Remember this was mid 1980’s. Also, if you won you always took care of the barn workers with tips. It’s pretty much a lose, lose situation unless of course you won big purses or often.
You mentioned that you lost money on the horses overall and owned three horses at any one time. I'm sure you kept detailed financial records for all of these horses. How many total individual horses did you end up owning solo and how many would you say, of those, were net profitable?
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Without cashing out on the occasional big pay offs which I’ll get into later I don’t think I would have lasted a year.
Claiming horses don’t go to auction. They either get claimed, sold privately, or die.
I’m reading Missions post trying to answers some questions. Feel like I’m all over the place. The claiming horse game needs more explaining. I had enough for tonight. Really tired. Get to more tomorrow night and over the weekend.
Why would they die? Thanks for answering all my questions! Can these horses not be sold to someone who just likes horses, in general, not for the purpose of racing? Can they not be kept with non-racing horses?
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The clocker in the morning records the name of the horse identified by lip tattoos if needed, what type of training is being done, and the time the horse did whatever in. This information gets posted in Racing Forums to help handicappers figure how a horse is doing. Certain trainers are close with the timer and he’ll print a fake time to throw handicappers off. Of course, he’s in on it. It gets much worse than that. They will even post the name of one of the trainers better horses to hide how well a cheaper horse is doing getting tuned up for a pay day.
How does this usually work? I assume he gimmicks the time to make the horse appear to be slower than it actually is, then it ends up having longer odds against it, at which point people can pile on Win, Place or Show bets if they know the horse is better than represented? Do they wait until it's almost race time to get those bets down to prevent it from looking like a bunch of money is coming in on it?