Quote:
|
Originally Posted by hockey2315
But does he own each of those horses for the entire year?
|
of course not but when you factor in what it costs to purchase/claim each horse then how much earnings are there left? Not to mention the purse number used was a gross number not the net so the actual money to him from each horse is cut even further. If you use $7500 as the avg cost of each horse after you subtract the commissions from the 14k number you have about $11400 and then subtract the $7500 claim price and you have about 4k per horse. Since we have no idea how many were claimed off of him or what amount he got back the 4k number is low but probably not too low since it seems like he claims 10-12 horses for each one claimed off of him. I realize these are approximations but the reality isnt that far off especially since his horses usually have little residual value. You cannot make money running this kind of operation because there is no windfall, little residual value and far too many basic expenses.