I've been having a heck of a time finding out about horse racing! If you know of any good books, magazines, or websites where I can learn more about the process from an owner's perspective, please let me know! In the meantime, I have discovered a few things:
Stakes Race: a stakes race is where you put up a "stake" (payment), usually at least 48 hours in advance of the race, to enter your horse. The purse is comprised of all the payments, and sometimes added money from other sources such as sponsors.
Claiming Race: In a claiming race, the owner is basically offering his entered horse for sale at the stated price. That is, in a $10,000 claiming race each of the horses entered can be bought for $10,000. The bid is placed before the race starts (and there are certain qualifications for being a buyer); as the gates open at the start of the race, ownership transfers to the claimant. However, the owner at the start of the race gets the purse. If no one claims your horse, you keep him. I've seen claiming races in Grants Pass for as little as $1,500; but I've also seen claiming races for a whole lot more.
I've found a couple of decent sites which have glossaries of horse racing terms, but they tend to be mainly from the bettors point of view. Check out http://www.ildado.com/horse_racing_glossary.html
Monday, January 7, 2008
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