Owning a horse is no longer the exclusive domain of the wealthy, as more Singaporeans and expats here are finding a new hobby in owning and racing horses. But seriously, the spending power of these folks still runs on unrivalled horsepower.
According to The Business Times, the spike in horse ownership is partly due to racehorse syndication (despite how it sounds, it's completely legal), under which a group of people purchase shares in a horse before dividing the monthly costs and racing prize money among themselves. Today, the Singapore Turf Club (STC) houses 1,430 racehorses, compared to 700 in 2007. In Premier Racing Partnerships (PRP), a racehorse syndication company, shareholdings can be as little as one per cent and its list of owners has increased from seven to over 800, its managing director Wade Burridge told BT. With that many people owning a horse, how do they decide on the horse's name?
Believe it or not, Singapore is actually one of the cheapest places in the world to own a racehorse. The prices of horses vary, but the monthly training fee is capped at S$2,750 excluding extra charges for premium services and care.
Speaking to BT, New Zealand supermodel Kylie Bax, who breeds thoroughbred racehorses mentioned that "Horse racing is known as the sport of kings, but now anyone can be a king for a day." Yes, but a horse is for life.
Photo: Zuzkins via Flickr
Done reading? Sit back, relax and watch Coconuts TV:
Owning a horse is no longer the exclusive domain of the wealthy, as more Singaporeans and expats here are finding a new hobby in owning and racing horses. But seriously, the spending power of these folks still runs on unrivalled horsepower.
According to The Business Times, the spike in horse ownership is partly due to racehorse syndication (despite how it sounds, it's completely legal), under which a group of people purchase shares in a horse before dividing the monthly costs and racing prize money among themselves. Today, the Singapore Turf Club (STC) houses 1,430 racehorses, compared to 700 in 2007. In Premier Racing Partnerships (PRP), a racehorse syndication company, shareholdings can be as little as one per cent and its list of owners has increased from seven to over 800, its managing director Wade Burridge told BT. With that many people owning a horse, how do they decide on the horse's name?
Believe it or not, Singapore is actually one of the cheapest places in the world to own a racehorse. The prices of horses vary, but the monthly training fee is capped at S$2,750 excluding extra charges for premium services and care.
Speaking to BT, New Zealand supermodel Kylie Bax, who breeds thoroughbred racehorses mentioned that "Horse racing is known as the sport of kings, but now anyone can be a king for a day." Yes, but a horse is for life.
Photo: Zuzkins via Flickr
Done reading? Sit back, relax and watch Coconuts TV: