Everything you need to know before joining a
One More Coin Racing Syndicate…
One More Coin Racing Syndicate…
Our syndicates will have either 20/25 members. See the horses profile page for more details information about ownership numbers.
Your ownership starts from the date that cleared funds are received. Your share lasts until the horse is sold – normally at the end of the season, unless an offer is accepted by the syndicate.
- Included in your share of the horse is your percentage (e.g. 1 share = 5%) of all prize money and any resale value.
- Training fees for that particular flat or national hunt season
- Vets fees
- Insurance – your horse is insured for all risks of mortality and theft
- Raceday expenses such as travelling expenses, jockey, trainer and stable staff
- Free entry to the Owners & Trainers’ Enclosure at the racecourse when your horse runs.
- Invitations to stable visits, both where your horse is stabled and our other trainers on the One More Coin roster.
- We deal with all the paperwork and administration of each horse’s run, enabling you to simply turn up at the races, where we will meet you and introduce you to the trainer or trainer’s representative, take you to the Parade Ring and hopefully the Winners’ Enclosure.
- We will also hold unique experiences such as hospitality at certain meetings and lunch/dinners for syndicate members which you will have access to.
Race entries which cost more than £50, and entries for races outside of the UK (all such entry costs including all forfeit stages and final declaration fees) plus transport for overseas races, are charged at cost price then pro-rata to your share – this then comes out of your share of the prize money if your horse wins. If, in the horses’ lifetime it does not earn enough prize money to cover these entries then any negative balance would not be charged to you.
The full cost of your share is to be paid by BACS, Credit/Debit Card or Cheque.
No. Owners payments to One More Coin Racing don’t include VAT. One More Coin Racing cover any VAT payments on behalf of owners and then reclaim it if applicable.
Yes, this is not a problem, we will do our very best to make your gift special.
Your horse will be insured for All Risks of Mortality and Theft, but cannot offer cover for Loss of Use – which is standard across the whole insurance industry. Generally speaking, you can’t insure racehorses for vets fees, however, the insurance will cover emergency life-saving costs. This would be any surgery needed immediately in order to save the horse’s life, a common one being colic surgery.
Yes, we will organise stable visits to see your horse and these dates will be published on the website and emailed/text to you. If you were unable to make one of these visits we will try to arrange a time with the trainer, that is suitable to both parties, where you could visit the horse and see the horses work.
The wellbeing of the horse will be of paramount importance and the strategy for the management and racing of the horse shall always be subject to the advice of the trainer and, if necessary at any time, vets.
We pride ourselves on treating each horse as an individual, not just a number within our whole string, and therefore the number of starts during a season can vary from syndicate to syndicate. Some horses thrive on racing, some appreciate a bit of time between starts. We will be in frequent contact with each trainer regarding the race planning and strategy of every horse.
When your horse is declared to run, (48 hours beforehand for flat races and 24 hours for jump races), you will receive an email with the race details and also asking you how many badges you would like. Depending on how many syndicate members will be attending at races, there may be a ballot for the allocation of badges, and if you were successful, you would receive two Owners & Trainers’ badges. But, we will endeavour to get our hands on as many Owners & Trainers badges through our contacts.
At major race festivals, we cannot always guarantee owners’ badges for all owners who wish to attend, as some racecourses limit the number of Owner & Trainer badges per horse at such meetings.
During the racing season, you will receive updates via email, audio or video email message in respect of your horse’s progress, race plans, entries and declarations. Every time your horse is declared to run, you’ll receive a race preview on the morning of the race and a review afterwards, once we have the race report from the trainer. We will also send you photographs and videos of your horse when available.
Offseason, updates will be less frequent, as if your horse is out of training or as we say ‘on holiday’, there will be less to report on, however, we still hold stable visits to see our horses out of season and will keep you up to date on any news.
Each horse is reviewed towards the end of every season by us and the trainer and you will be kept informed of any plans. Decisions are based on the performance, rating, estimated value and likely potential returns for the owners, whether through likely future racing achievements or resale value. We do our best to suggest selling at the right time and all owners are asked for their opinion to aid the decision making.
Offers are sometimes made during the season from buyers for our horses, these are usually ‘Pattern’ race performers. We will take expert advice regards selling the horse at the right time, earning a maximum return for the syndicate. We will inform you of such an offer and ask for your vote to sell or not sell. The syndicate vote has to reach 65% for the offer to be accepted. If your horse is sold rather than retired, you will receive your percentage of the selling price. For example, if you owned a 5% share of the horse you would receive 5% of the selling price, although this is dependent on how and where the horse is sold, as applicable commissions and fees will be due, such as sales house or sale agent or trainer.
You will receive the share of the prize money you are entitled to if your horse is placed or wins. For example, if you own a 5% share, you receive 5% of any owners’ prize money won. ‘Gross’ prize money (which you will see at the top of race cards on the Racing Post website), includes all prize money distributed between owners, trainers and jockeys. The ‘owner’s percentage’ is about 78% for a win and then ranges from 83-87% for a place depending on the placed position. Please note One More Coin Racing charge 5% commission on the gross prize money earned. Payment is usually made after the end of the season i.e. November/December for Flat and May for National Hunt horses.
Owners statements are prepared annually in December for flat horses and in May for National Hunt horses, summarising every owners’ financial account. If an account includes the proceeds of sold horses via sales houses then payments are sent after the sales proceeds have been received, which can take a minimum of 6 weeks to be sent out to us and clear.
Yes. The syndicate manager oversees how the winner’s prizes are distributed between the winning owners who are present at the racecourse. We aim to ensure that within each syndicate, trophies, photos, champagne and race DVDs are fairly distributed amongst the owners during the season. ‘Pattern race’ trophies are assigned at the discretion of the syndicate manager (some of these are perpetual and have to be given back to the racecourse).