What does mm mean in horse racing?

What happens if you drop a horse into a claiming race?

Sometimes, owners will drop a horse into a claiming race to steal a purse. If an owner or trainer finds a claiming race with ideal conditions and a substantial purse, they may decide to take a risk and enter their horse even though the claiming price is less than their horse’s value. A horse dropped into a race is the one you want to find.

Who can claim a horse in a race?

The mechanics of claiming vary based on jurisdiction but in most cases almost anyone, or possibly anyone who is licensed to own racehorses, may claim.

Can a trainer help a client buy a horse?

For trainers helping clients buy a horse, it is important to note that any agent who sells to a buyer has a fiduciary relationship that requires the agent to act in good faith toward the principal-in other words, the agent’s responsibility lies with the person who hired him to either sell or purchase a horse.

What percentage of horse races are claimed?

About 70% of all races in North America are claiming races, and they are written at a variety of levels. You’ll often see “conditioned” claiming races, where the horse must fit certain criteria in order to be eligible.

What are the disadvantages of claiming a horse?

One downside to a claiming horse race is the fact that claimants cannot inspect the horse prior to putting in a claim. This means that undiagnosed health problems may not be apparent until the claimant takes ownership of the horse. However, the owner has no obligation to disclose potential problems with the horse to claimants.

Can a horse agent recommend a client to buy a horse?

The Florida law also says that an agent or trainer cannot recommend that a client purchase a horse in which the agent/trainer has an ownership interest unless the client is aware of the ownership interest prior to the sale.

Is under the table compensation a necessary evil for equine trainers?

Undisclosed profit-taking by trainers facilitating horse sales and purchases is a widespread practice touching every discipline in the equine industry. Some clients adopt a “don’t ask, don’t tell” approach to under the table compensation when buying or selling a horse through an equine professional, viewing it as a necessary evil.

What is an optional claiming race?

Optional Claiming Races allows the owner to run his horse in a claiming race and opt-out of the claiming process. There are special rules for opt-outs; usually, horses that are opted-out will race with more weight. Optional Claiming Races are the highest class of claiming races, the usual claiming price is &75,000.00 and up.

What is the difference between a claiming race and an allowance race?

In an optional claiming race, the horse can be entered to be claimed or not at the owner’s discretion. Claiming races account for about half of the races run at American tracks. In an allowance race, horses are not for sale and the purses are generally higher.

How important is the price of a horse?

The higher the price, the better the quality of the horses, although you can sometimes find a good horse running at a lower level than he or she should be due to being undervalued by the current owner.

What is undisclosed profit-taking in horse sales?

Undisclosed profit-taking by trainers facilitating horse sales and purchases is a widespread practice touching every discipline in the equine industry. Some clients adopt a “don’t ask, don’t tell” approach to under the table compensation when buying or selling a horse through an equine professional, viewing it as a necessary evil.

Do Horse Trainers make extra profit by selling horses?

However, others have found ways to bring in extra profit from buying and selling horses for clients. Undisclosed profit-taking by trainers facilitating horse sales and purchases is a widespread practice touching every discipline in the equine industry.

Do you ask for under the table compensation when buying a horse?

Some clients adopt a “don’t ask, don’t tell” approach to under the table compensation when buying or selling a horse through an equine professional, viewing it as a necessary evil.

Is it profitable to buy and sell horses for clients?

Do your homework to ensure your horse lands in a good place. Many horse trainers and sales agents have their clients’ best interests in mind and enjoy seeing horses succeed in new homes with excited owners. However, others have found ways to bring in extra profit from buying and selling horses for clients.

Why do horse trainers and sales agents sell horses?

Many horse trainers and sales agents have their clients’ best interests in mind and enjoy seeing horses succeed in new homes with excited owners. However, others have found ways to bring in extra profit from buying and selling horses for clients.

Can a veterinarian work for the seller of a horse?

This individual should be impartial; he or she should never have worked on the horse, should not perform work for the seller or agent, and should have no financial stake in the sale. The veterinarian performing the exam works for the buyer, is paid by the buyer, and reports directly to the buyer.

What are claiming races?

About half of all races run in North America are claiming races, so these are the horses you’ll see most often at a track. Claiming races come in a wide array of classes based on the prices of the horses. The highest level is the optional claimer and these prices are often quite high.

What is the difference between a starter Handicap and an optional claiming race?

A Starter Handicap has the weight assigned by the Racing Secretary or Track Handicapper. An Optional Claiming race is one where horses can be entered for the pre-determined claiming price. If “entered not to be claimed”, the horse must meet the allowance condition of this race.

What insurance do I need to start an equine business?

For equine businesses, the typical insurance is Commercial General Liability Insurance and/or Equine Professional Liability Insurance, but trainers may need more.

Do you know about undisclosed profit-taking by trainers?

Undisclosed profit-taking by trainers facilitating horse sales and purchases is a widespread practice touching every discipline in our industry. Many clients adopt a “don’t ask, don’t tell” approach to under the… Many states, including Oregon, require that horse facilities have posted signs outlining the state’s equine activity statute.

Why are equine veterinarians in high demand?

If there’s one conception that comes with horse ownership, it’s that there will be vet bills. Horses require routine and regular visits from the veterinarian to ensure that they’re staying in optimal health. Because of this, equine veterinarians will always be a career in high demand.