I first bought into MyRacehorse in late 2022. The very first horse I bought into (Seize the Grey) just won the Preakness. So yes, it can be fun and it certainly can be exciting, but it takes patience. Seize took a while to train up to that big day; he was late maturing so he wasn't a fast runner like some 2 and 3 year olds. He has definitely come into his own now.That said, I've only made about $250 dollars from him($156 from the Preakness for 1 share), so it certainly isn't a way to make money(my share cost $127). Buying into MyRacehorse is more about getting the inside scoop on a horse, as well as the racing industry(which was my reason for buying into MRH). It's also about the perks. If you are able and willing, you can go to most of the events they schedule(some are lottery only). That's not up my alley, so I didn't participate in the Preakness or the Belmont events. For some owners it's the at-track ownership experience they crave. So if that's your thing, you might enjoy MyRacehorse ownership despite the low financial payoff.But again, that said, most of their horses do not win on this scale. For example, I eventually bought into 13 horses. They have already sold one(did not receive any money from that sale) and retired another after one race(a loss)-money down the drain. The others are either hurt or training. Only one other of my horses is actually racing, and she hasn't won yet; they are actively trying to get her claimed off so they can eliminate her upkeep. This after they have mismanaged her career from the beginning.Just realize that ownership at this level can be very frustrating since you have no say in the actual management of your horse. Todd Pletcher (major winning trainer) has reneged on 2 of my horses already because they weren't instant winners-he just literally left them behind. I've had 2 other horses that were passed on to other trainers because the original trainers had had enough of losing.The message is: temper your expectations. I lucked into Seize the Grey, but 95% of their stable are big time losers. Do your homework and you can see for your self. While the parties may be fun they are fun only when your horse actually wins.To be fair: the ratio of winners to losers is pretty typical of most stables (not just MRH). There are plenty of big time owners (i.e., Spendthrift Farm, Shadwell Farm, even Godolphin) who have a large number of horses who do not win, no matter how much time and expense are invested in them. Talent is hard to judge. Seize was initially judged to be fat, lazy and unmotivated. So was Secretariat. Only time and money spent on training, training and more training will tell. Keep that in mind. The same amount of money and training cannot make every horse a winner- it depends the horse's mindset(does he want to win?) and innate ability. A good majority of horses just don't have it.Just know you cannot trade or sell your horse if it turns out to be one of those big time losers. I think they are about to change that, but it is in early stages. Even if they are sellable one day, really, who wants to buy a loser? Believe me, you will be out much more money than you win. You can actually win more money betting on your horse than any payout you will receive from MRH.Finally I wanted to add that there is very little transparency as to expenses and where all the money goes. Seize won $1.2million and I own .02 percent, but when payout time came I received 0.00013% of the take. I realize they spare no expense on him, but there is no breakdown of expenses vs income so you can see how the money is being divied up. The takeaway here is: don't buy into MRH looking to make money unless you invest alot (I mean ALOT) to buy up a huge percentage of shares (which is a huge risk considering there is no guarantee they will even race your horse in the end.)
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