FREQUENTLY ASKED QUESTIONS
Welcome to our FAQ page. We hope you find this page useful in finding out more about us and how to use our site. Please be aware that our Glossary outlines all racing definitions used across our site.
Can’t find what you’re looking for? Please visit our contact page where you can ask us your questions directly.
Why should I join The Racing Manager?
The Racing Manager provides a bespoke service designed around the horse or multiple horses that you own, train or manage. The platform brings together all the information you need into one central hub. To find out more about what The Racing Manager can do for you, please visit our homepage. If you’re still not sure whether The Racing Manager is right for you, please do not hesitate to contact us directly.
I want to register an ownership group on The Racing Manager. How do I register?
To register your ownership group on The Racing Manager please contact us directly using the details here and we will endeavor to help you.
I want to join an ownership group. How do I join?
In order to join an ownership group you must be invited to join by the ownership group’s manager. In 2018, The Racing Manager will also be bringing users a sales page on our platform where anyone can view available shares of horses and syndicates and request to join through our platform. More details to follow soon!
ABOUT OWNERSHIP GROUPS
What is an ownership group?
An ownership group can be anything from a syndicate, partnership or racing club, through to a sole owner who wishes to share the ownership experience with his friends and family. The Racing Manager can accommodate all types of ownership, but aims to grow ownership through syndicates. For more information on these ownership group types and for more information on what it means to be part of a syndicate, please see below and check out ‘About Syndicates’ section.
What are the different types of ownership?
There are five different types of ownership that are defined by the BHA as the following:
Sole owner:People who own a horse or multiple horses outright.
Syndicate:A group of people who own a horse or multiple horses together, but who do not have to be sole owners in their own right. The ownership is managed and set up by a Syndicate Manager (or Syndicator) who will have had to register as an owner with the BHA and is responsible for the syndicate.
Partnership:Two or more registered owners that own a horse or multiple horses together.
Racing Club:A group of people coming together to experience the thrill of racehorse ownership. The club manager is responsible for the racing club, but unlike in a syndicate, members of a racing club do not own the horses. Instead members are likely to pay a subscription in order to enjoy some of the benefits of racehorse ownership.
Company:For organisations that own a horse or multiple horses under the name of a company or business.
Who can join an ownership group on The Racing Manager?
Anyone over 18 years of age can request to purchase a share in an ownership group on The Racing Manager.
Is buying into an ownership group an investment?
Purchasing shares through a syndicate is not an investment, but a way to enjoy horse racing and engage more closely with the sport. Some horses can be so successful that their prize money is significant and some can be sold for profit or used for breeding at very high prices. However, it would be a high risk idea to put money into a horse and expect a return. Even though money can be made, being part of a syndicate is far more about the experience and having fun along the way.
How many horses are there in an ownership group?
An ownership group can own or lease just one horse or any number of horses. The number of horses involved in an ownership group is clearly outlined on the Ownership Group page.
I would like to view the horse prior to purchasing any shares. Can this be arranged?
Most managers/trainers would be delighted to give potential new owners the opportunity to view a horse. You should raise this with the manager of the ownership group once you have requested to join.
Can I attend the races when my horse is running?
Yes, but be aware that racecourses only make a limited number of free Owners & Trainers badges available to syndicate owners (usually at least six). Syndicates with large numbers of members are not always able to obtain free badges for all their members, although the racecourses should be able to help you buy reduced price entry badges. Please ask your manager for more details.
What should I know when buying a share in a horse? What should I expect to receive from the manager of the ownership group?
The manager should send you a copy of a written contract outlining the detailed terms of the arrangement. The terms should include:
- The amount of money that you have paid and a detailed breakdown of what is covered by said payment
- An outline of any recurring costs for which you, as an owner, will be liable
- The percentage of the named horse(s) that you have purchased or leased
- The time period involved - either fixed period or open ended
- The percentage of prize money that you will receive
- If appropriate, the percentage of resale value that you will receive
- Details of any insurance covering your horse(s) and the risks covered by such cover
- Any additional or recurring costs – e.g. insurance, veterinary, management, registration costs that could be incurred
- An outline of when you will receive a full financial statement for the ownership group and the process by which any financial surplus or deficit will be credited or charged to you
- The process by which the ownership group will make any decisions regarding the management, training and sale of the horse(s).
How does a syndicate work?
A horse racing syndicate provides an opportunity for a group of people to share in the experience of owning a racehorse. The syndicate, whether an arrangement among a group of friends or a professionally managed syndicate, can also divide up the costs and prize money according to the percentages held by each individual, making it much more affordable and accessible.
Are there different types of syndicates?
The terms of each syndicate will vary, but fundamentally the biggest difference is whether the horse or horses in the syndicate are owned outright by the syndicate group or whether the horse or horses have been leased in a Racing Club type of ownership. It is important to understand the costs and benefits of joining a syndicate before you commit.
What does it mean to be part of syndicate with leased horses?
Being part of a leased-type syndicate means that the legal owner(s) has chosen to lease the horse or horses to your syndicate for an agreed period of time. During this period, the manager of the syndicate will become the ‘registered owner’ with the BHA, which will enable the horse to run in the syndicate’s colours. This means that whilst syndicate members will have no ownership rights of the horse, they will typically be able to receive some of the prize money that the horse earns and enjoy other ownership privileges, such as enclosure tickets at race days, regular updates from the trainer and opportunities to visit the horse. However, over the period of the lease, syndicate members will also bear training costs and any other horse-related costs such as veterinary fees. When the horse is sold, syndicate members will not be entitled to any profits that are made. The terms of each syndicate should be made available on the ownership group page.
What does it mean to be part of a syndicate with horses that are wholly owned by the syndicate?
Being part of a syndicate with horses that are owned means that the syndicate members are the legal owners of the horse or horses in that syndicate. This means, as you have purchased a percentage of the horse, you are entitled to all owner privileges, such as enclosure tickets at race days, regular updates from the trainer and opportunities to visit the horse. The advantage of being part of a syndicate is that you can split the training costs and any other horse-related costs such as veterinary fees, between the members. When the horse is sold, you will be entitled to a division of the profits should a profit be made. The terms of each syndicate should be made available on the ownership group page.
PERSONAL VERIFICATION CHECKS
Why do I need to submit a Personal Verification check?
The Racing Manager requires all Managers of ownership groups and customers who would like to purchase a share of a horse or a share of a leasehold syndicate through our platform to submit a Personal Verification check. These checks help us to maintain a high level of integrity and openness for all of The Racing Manager’s users.
Personal verification checks – otherwise known as KYC & AML checks - ensure that potential owners can be confident that the Manager’s identity has been verified. In return, Managers can be equally reassured of who they are selling to on our platform.
Our Personal verification checks require valid supporting documentation in the form of a scanned passport. The results of the check will not be made visible to the Manager of the ownership group or to other customers.
The Personal Verification check does not check your credit ratingand will remain completely unaffected. All checks are carried out by our provider, NorthRow.
What is the Personal Verification check looking for?
Our Personal verification checks are designed to ensure that you can trust who you are dealing with on The Racing Manager -
it is not a credit check. We are simply looking to confirm your identity through a verified identity document (i.e. your passport) and the home address which you have provided.
What is the best way to scan my passport?
We recommend that all passport images are scanned using a flatbed scanner to ensure the image is a sharp, high resolution image that can be read by Optical Character Recognition (OCR).
Photos of passports (including those taken on mobile) may also be uploaded, but care must be taken to avoid glare, darkness and other obscurities.Your verification check will automatically fail if the image cannot be read. Before uploading a passport image, please read our guidelines here.
How can I send a message to owners?
There are two ways to communicate with your owners: posting racing updates or sending direct messages. Please see below for more details.
You can post updates to the ‘racing updates’ tab by visiting your horse’s page via the website or using The Racing Manager app. Here you will be able to post comments, pictures, video and audio posts, which can be seen by everyone in the horse’s ownership group and can be shared and commented on by other owners in that group. However, as it is up to owners whether or not they wish to receive notifications on these updates,
we recommend our direct messaging facility if you need to send a private or urgent message.
The Direct Messaging facility can be found on your Manage People page, which can be accessed from your Manager’s Dashboard. You can directly message the horse’s owners or you can message the owners of all your horses if you manage more than one horse in an ownership group. You can also message owners individually. Messages sent through the direct messaging facility will not show up publicly, but will be sent directly to the email and/or phone number provided by the owner. Owners will always receive these messages, as notifications can’t be turned off, so use direct messaging if you want to send an urgent message.
How can I edit my Ownership Group page?
Editing your ownership group page can be easily accessed through the Manager’s Dashboard. Simply choose the ownership group you wish to edit (if you have more than one) and select ‘manage page’. Sections of the page can be edited by selecting the pink edit buttons in the top right-hand corner of each info box.
How can I edit my Horse page?
To edit a Horse page, please select the pink pencil icon on My Horses. Sections of the page can be edited by selecting the pink edit buttons in the top right-hand corner of each info box.
How can I see who is in the ownership group that I manage?
The owners of your ownership group can be viewed on your Manage People page, which can be accessed from your Manager’s Dashboard. You can select owners by horse (if you manage more than one) and you can view the owners’ details here. You can also direct message the owners from this page.
How can I list shares to sell in my horse or syndicate?
In 2018, The Racing Manager will be bringing users a sales page on our platform through which managers and trainers will be able to list horses and syndicates for sale for free. More details to follow soon!