Not looking good across the water

No, no, don't do that - a good discussion is always welcome, especially one that gets civilly to the heart of the matter. Personally, my feeling's been that with the incentives offered to studs in Ireland, there was no reason to cut back on breeding from any old rubbish - your acquaintance's 50-rated filly being a case in point. When people are breeding from mares which have raced and never won (as against unraced, where there may've been a good reason, but the pedigree and the animal is sound), and going to cheap stallions who may have lowly records, then it's no wonder there've been regular fields of 20+ horses in NH. Most NH races in Ireland are like cavalry charges, but out of them, it tends to end up being the same few decent ones in the first six time and again. You see the field streaming back for two or three furlongs once the winner's past the post, which surely points to a lack of competitiveness. Plenty of competition, but 3/4 of it easily turned aside.

The obvious first step is for the ITBA to disincentivise breeding from nonsense mares and stallions alike. While there've been calls for culls here in the UK of inferior female stock, it's my feeling that this doesn't go deep enough, and poorly-performing stallions - let's say those who aren't getting in a certain % of wins to runs every season - are 'retired'. There should be 'no breeding' clauses for all fillies/mares who compete and who fail to register a certain number of wins and/or places in their careers. It doesn't matter to me at what level - they don't have to be at the top end of the scale, but they should have shown the determination and the ability to win. These are just very broad brush-strokes about reforming the rampant overbreeding from useless animals that's taken place, but I think you need to start where all the problems begin - at the breeders' yard, not even as far as the sales ring. But it seems that neither the ITBA or the TBA in the UK has got the will to drive any such reforms through. There's the cry that people are entitled to try and make a living (good luck!) from breeding, and it'd be wrong to deny them a livelihood. I wouldn't argue that point, other than to say yes, let them make their livelihood, but only using higher-grade parents, and retiring older mares and less-productive stallions sooner.

As for your ideas about reducing prize monies, Cantoris, I can see where you're coming from, but you'd be right that it wouldn't be popular! In the UK, the ROA has bleated for ages about the parsimonious returns for wins and places, and the overall lack of generosity towards owners that most racecourses show. Take a Class 3 run on April 19 at Lingfield (a meeting transferred from Great Leighs): 1st prize, £5827; 2nd: £1948; 3rd: 973; 4th: £487; 5th: £244; 6th: £121. Pathetic! Second prize just about covers one month's training, race entry, and jockey fees.

Rather than lowering Irish prize monies, you'd find more support in the UK for raising British prize monies to come a little more in line with yours, and America's. And let's not even think of Dubai, Australia, and New Zealand's rewards for winners. There's no reason why NH and Flat monies should be widely different, either, since training fees are the same, with only a small discrepancy in jockeys' riding fees. Far better for the UK to make winning races more likely to help owners' recoup costs, than to bring Irish owners into the same difficult position of wondering whether they can afford to keep supporting the sport. Okay, you've been involved with syndicated horses, and they're a good way to go - to a point. Most syndicated horses have a finite lifespan, unlike many individually-owned nags, with members ebbing and flowing, and the horses usually sourced ready-made. Most syndicates don't speculate on foals and sometimes not even on yearlings. This is usually the risk taken by sole or small partnership owners. Syndicate horses are usually sent to the sales after two or three years, and new ones bought in for the members. They're essentially an entertainment commodity, a bit like having theatre tickets for a couple of seasons. But take a syndicate horse winning that Class 3 race, and you see the difference between the prize money being shared between a couple of dozen people, and just one to four? It's hard for people to sell syndications when the prize money's rubbish, and it's very difficult for breeders to sell foals or yearlings to them, and certainly to sole owners, who have to keep the animals until they're trained and ready to run. So, all types of owners need MORE, not less, incentives to buy and to keep their horses. Lessening prize money in Ireland would throw up the dichotomies we have here: you need more sole owners to buy foals and yearlings (but they see they'll never even break even half the time, let alone make any profit, on prize monies); you need syndicates to buy the 2 y.o.'s, but they're unlikely to receive more than a fiver each in prize money at the rate even a winner brings in.

The only people actually doing well out of racing in the UK (apart from the obvious target of bookies et al) are trainers, consignors, transporters, and auction houses. Breeders in Ireland have done very well, thanks to ITBA incentive schemes and a certain recklessness as to what they're breeding from, but if you hack back prize monies, you'll leave your owners in the same parlous state as the UK.

(Okay, I'll draw breath now, too!)
 
And let's not even think of Dubai, Australia, and New Zealand's rewards for winners.

Choose:

a) benign dictatorship
or
b) off-course Tote monopoly

and you can :D

(I go with the first one, on condition that it's me!).
 
We've put a 100k into Kimberlite King and got back 30k in three wins. If we had received half that it would have been the same. But those lads went outr and paid 27k for their horse and if anyone expects to get a "return" from it, then they should have a better chance than the lads who put in 5k to buy a horse and win the same for a small little handicap somewhere.

Again, you pay a bigger price for your animal in the hope that it gives you a better chance of getting a good one,some people allocate their budget and buy a few, others go for broke and buy one. Different strategies, neither less deserving of a decent opportunity to pay for itself. When I say pay for itself' I mean pay the bills not the initial outlay.I don't think it is reasonable to expect prizemoney to cover initial outlay but It is reasonable to expect to be able to pay your bills in any given year if your horse is competitive at a level.

To cut the bottom by 50% would simply make that an impossibility. This would further worsen the situation with less money coming into the HRi Coffers. I am not suggesting that lesser horses should have the same prize money as average or smart horses I am saying that the prizemoney at the bottom must give a reasonable chance of covering costs.

I cannot say how lower graded racing has survived in the U.K,God alone knows ! but just because it does is not an arguement There seems to be a lot of hardship involved.

it is owners of bad horses and the breeders of same that are the loudest voices in the prizemoney debate as they want to maintain something that is no longer sustainable.

Where do these awful creatures lurk ?! . Owners of bad horses are also owners of good horses. They don't just specialise in bad horses . The same applies to breeders. One year the mare throws a good Sales horse the next it throws a bad one. There is no direct correlation between what is paid for a horse at the Sales and how a horse runs. Come race time the good sales horse is running in the 47-60 and bad Sales horse is running with the smart horses. The horses at the sales don't have stickers beside their hip no. 0-65 5-15k, 65-80 16- 30k etc. Categorising the Sales market is for the Agents and the Auctioneers.

Prize money in racing and the quality of the broodmare population are two different debates and should be kept separate.
 
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Thanks, Cantoris, Krizon & Sheikh -- really informative hearing from people involved, as is usual with any interesting subject.
Why did Irsih prize-money go up so much, anyway (if indeed it did)?
 
Thanks, Cantoris, Krizon & Sheikh -- really informative hearing from people involved, as is usual with any interesting subject.
Why did Irsih prize-money go up so much, anyway (if indeed it did)?

Everything went up and I mean everything, but you know what they say about things that go up....... It's finding a balance on the way back down where the disagreements are taking place, country and industry wide . Thankfully Hri where n't as irresponsible during the good times as a our government.
 
Cantoris and Sheikh throw up some very interesting issues. I'm not entirely in agreement with Sheikh's view that the broodmare population and racing prize money are not part of an overall package, though. There are a few mares with poor race records (and many with no record at all) who have thrown up good runners, usually thanks to some part of their pedigree coming to the fore, or being overstamped by the stallion's own merits. But, let's be honest - who's going to send their £500 mare to PIVOTAL (now standing at the reduced price of £65,000)? Not a lot! And I do think that while it's true you can pay £17m and get a total donkey and obversely the minimum bid and get a Group winner, those are really the extremes of the breeding/buying spectrum. Overall, breeders should breed from winning mares, just as they breed from winning stallions. A win goes to demonstrate ability and a few wins certainly nails that much home. Breeding from unplaced females merely demonstrates a recklessness as to the product. You may well be able to flog it off to someone cheaply, but those are, in due and expensive course, the detritus seen flailing away at the back of over-stuffed fields. Unattractive in their desperate efforts, and not a credit to the appearance of the game.

It's true that low-prized racing in the UK has managed to get by for several years now, in spite of the BHB perpetually scratching its head over issues of quality. I think one's got to assume that any sort of racing is acceptable to both home and international betting markets. (Well, it has to, with the advent of Portman Park!) It has found too restricting (and unprofitable) the racing calendar of old, where courses stuck rigidly to the hunt calendar for NH, and the Flat calendar. One now has 'summer jumping', a bizarre innovation which NH purists are wont to go pale about, and all-year artificial surface racing - again anathema to turf purists. That means that with some 80+ meetings held by ONE course alone (exemplar: Lingfield Park), racing is like a baby bird, with its beak ever open to be fed. And baby birds don't mind if you feed 'em plump worms or spiky beetles, as long as they're kept fed. The racecourses are paid handsome picture rights (unless the fields drop to very low numbers), because those pictures are sent to every betting shop in the country, and beamed to countries abroad which accept them. Thus, course XYZ can stage an 8-race card where the top prize is only £1800, but receive £4000 (unless it's changed since a couple of years ago) per race. The course doesn't care if you run a 15 y.o. with dodgy knees and form of PUFF - horses fill cards, cards beget picture rights dosh, and in the case of a mixed code course like Lingfield (AW x 80, turf x 22 meetings, NH x 10) - you do the math!

So, that's the answer to how low-grade racing, with its low-grade prize-money survives in the UK - racing is handsomely rewarded by SIS whether it stages handfuls of ancients gallumping around its NH gaffs in July, or teen-agers having a twice-monthly spritz round the AW. When people say to me "oh, racing's just all about betting", it's sometimes hard to disabuse them of the idea.
 
Sheikh, I'm getting into this now and your post has really got me going. Yippee, plenty of debate

I don't think it is reasonable to expect prizemoney to cover initial outlay but It is reasonable to expect to be able to pay your bills in any given year if your horse is competitive at a level.

It's the competitive at any level that gets me. A division 4 soccer player should not get paid the same as a premiership soccer player, although he may be competitive at that level. Racing isn't a charity. The better you are the better prozemoney you should run for. As I said, start off at €4k a race and move up as you get better, not if it's competitive. If you want to be competitive be a kids soccer coach.

To cut the bottom by 50% would simply make that an impossibility. I am saying that the prizemoney at the bottom must give a reasonable chance of covering costs.

Yes, we have a useless horse at the moment and I don't expect anyone to support him accept us. Prizemoney will only encourage us to continue racing him when we shouldn't and if these horses don't race, then the €4k from that race can be moved up to the mid tier level.


There is no direct correlation between what is paid for a horse at the Sales and how a horse runs

I don't believe that. Why we all come across the Feathard Ladys and the Zaaritos who were bought for pittance, there are bundle loads of these horses that go on to achieve nothing. I would safely have a bet with you that horses bought for under 10k (and there are a lot of them) significantly underperform horses bought over 10k or 20k or whatever. It might not ring true between the under 30k and over 30k as the over 30k has a smaller population but for every wonky Feathered Lady that wins a grade one there are twenty that never make the track because they are wonky, and therefore do not fetch any sort of a price.

Prize money in racing and the quality of the broodmare population are two different debates and should be kept separate.

But they are intrinsically linked. that's like say the moon has nothing to do with the sun when it's clear that one is chasing the other round the world!!
 
Dear Mrussell:

Many thanks for the kind words. Please find attached my invoice for £350.00 for the online tutorial.

Yours sincerely

Ms Krizon

----------------------------

Actually, m/r, I've learned loads over time from the forums, too, and made some belting real-life pals because of them. Without the original Channel 4 (from which we were so rudely ousted one night!) and Col hastily setting up TH, I'd never have had the experience of co-breeding foaly-woalies with Songsheet, or meeting so many more people than by just working at a few racecourses. The forums are really useful for promoting healthy debate and discussion, and I've sometimes found that what I thought was my viewpoint has changed after taking part. Glad you like this one - plenty of meat on the bones!
 
It's the competitive at any level that gets me. A division 4 soccer player should not get paid the same as a premiership soccer player, although he may be competitive at that level. Racing isn't a charity. The better you are the better prozemoney you should run for.

For the the third time I do not think the prize money should be the same.
You are talking about cutting prize money by 50%. I am saying that any reduction in prizemoney should be equitable and not jeopardise any particular band of racing.

Your justification for slaughtering the lower level is that you draw an exact correlation between low prices paid at the Sales and low graded racing.
You also seem to be suggesting that there is a particular type of individual that is specialising in farming the lower grades. The truth is although you are correct in saying there is a significant trend between the performance of better priced Sales horses and lower priced Sales horses ,it is still only a trend and not as significant a trend as some vested interests would have us believe. The assertion that the same people are breeding the same "wonky" horses and that those "wonky" horses are ending up in lower graded races is just not correct.

The short term gain for sacrificing lower graded races would result in less entries, less owners, less trainers, less breeders etc. Once you start narrowing the pool eventually the "quality" end of racing will suffer.

As regards bad stock at the Sales. The Sales companies have an obligation to select the best stock. They are filling their catalogues with horses from the same farms. Time and again I see horse from the same shit families go through the top Sales because they come from a particular farm. The same agents are than paying stupid prices for them.

With the market as weak as it is at the moment, good looking sales horses (distinct from good race horse) are being bought for peanuts so it won't be so easy for you to bracket them in the next couple of years.
 
I am saying that any reduction in prizemoney should be equitable and not jeopardise any particular band of racing

Only if the rise was equitable also. This is my point, I think HRI made a mistake a long time ago by increasing the minimum prizemoney so high. It ain't long ago when horses were running for 3k old Irish punts. The pace of increase for bottom level prizemoney was intense. Sure its €8k now so that's a 100% increase in 10 years which seems a little daft. I odn't know the exact figures, maybe someone can check what a low grade handicap hurdle and a maiden hurdle got 10 years ago compared to now.

So if the rise was not euqitable i.e. a horse that won the worst two races in the country in a year paid its way, then the fall should not be equitable i.e. 50%. It makes perfect sense to me, but then that's my point of view!! Racing and the people in it need to realise that prices need to come down for everything, customers will disappear and an element of realism is required in order to protect what is left. If ever there was a time to concentrate and protect the customers you feel will survive into the future, it is now. And in my view those are the people who will go out this year and buy the mid tier horses.
 
I think it is obvious that there should be a clear correlation between ability and the money a horse can race for, especially in a time of scarce resources.

Irish racing has been generously treated by the present Government in return for sacrificing its independence. But as times turn hard the attacks from those outside racing are starting to hurt. How can the government justify to the average voter supporting high levels of prize money for races typically won by absentee millionaires when social welfare payments are being reduced and the health service is in as bad a state as ever?

Sooner or later Irish racing will have to detach itself from the political orbit. It needs to be assigned, and allowed to develop, its own income stream, be it a levy on stallion fees, the proceeds from betting tax or whatever.
 
I put togehter syndicates buying horses at the 20-35k level and I find it really hard to justify spening that money when the next lad can spend 5k and run for the same money.

Why should it all be about the purchase price of the animal? If the £5k horse is at the same level to the £25k horse, then so be it. You don't have to spend fortunes on buying horses if you have an eye for a horse and know a little bit about pedigrees. In fact, I'd almost argue that the person who picks out an animal they like, pays £5k for it and is running against the £20-£35k animal is all the shrewder for it. It is all too easy to spend big money on fashionable or flashy looking horses when there's a lot more to it than that.

It's one of my bugbears that you constantly come across comments such as "only cost £8k at the sales so not likely to figure here" and similar, even in crap bumpers at Worcester! Fair play to those that are willing to stick their neck out and buy a cheap horse; if they like it for the right reasons and not its price then why not? The last horse I bought was ridiculously, stupidly cheap - she was on my original list having been through the catalogue and I liked the filly when I saw her, she had something about her that I really took to, and that doesn't happen very often when looking at horses. I've crossed tens of animals off my list compared to the few I've actually bid on. I couldn't believe the price she was knocked down to me for and I know that most people will judge her on the pittance she cost me, but so what? If she wins races then it just goes to show that you don't have to spend fortunes on horses, I will be only too happy to tell anyone how cheap she was and who will be laughing then? So far as I saw it, worse case scenario was that even if she's no good I can sell her on as a riding horse for considerably more than I paid for her.
 
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Only if the rise was equitable also. This is my point, I think HRI made a mistake a long time ago by increasing the minimum prizemoney so high. It ain't long ago when horses were running for 3k old Irish punts. The pace of increase for bottom level prizemoney was intense. Sure its €8k now so that's a 100% increase in 10 years which seems a little daft. I odn't know the exact figures, maybe someone can check what a low grade handicap hurdle and a maiden hurdle got 10 years ago compared to now.

So if the rise was not euqitable i.e. a horse that won the worst two races in the country in a year paid its way, then the fall should not be equitable i.e. 50%. It makes perfect sense to me, but then that's my point of view!! Racing and the people in it need to realise that prices need to come down for everything, customers will disappear and an element of realism is required in order to protect what is left. If ever there was a time to concentrate and protect the customers you feel will survive into the future, it is now. And in my view those are the people who will go out this year and buy the mid tier horses.

I agree until we get to this bit.

If ever there was a time to concentrate and protect the customers you feel will survive into the future, it is now. And in my view those are the people who will go out this year and buy the mid tier horses.

If you force people out by making the lower level uneconomical than obviously they won't survive. The point is well made about the increase in prize money at the lower level but that doesn't justify going from one extreme to the other. ie. too much to too little.

People who buy mid tier horses also buy top tier horses and bottom tier horses. I can't help feel your talking from an agents point of view where there is a level of purchase price and commission in which they like to operate.

I think it is obvious that there should be a clear correlation between ability and the money a horse can race for, especially in a time of scarce resources.

Irish racing has been generously treated by the present Government in return for sacrificing its independence. But as times turn hard the attacks from those outside racing are starting to hurt. How can the government justify to the average voter supporting high levels of prize money for races typically won by absentee millionaires when social welfare payments are being reduced and the health service is in as bad a state as ever?

Sooner or later Irish racing will have to detach itself from the political orbit. It needs to be assigned, and allowed to develop, its own income stream, be it a levy on stallion fees, the proceeds from betting tax or whatever.

Interesting points and I agree with all of that. Is the prizemoney at the top too much seeing as most of the people operating there are trying to produce stallions, the prize money is incidental to them. Should the top be paying for the middle and bottom where their stallions progeny race sponsored by smaller breeders and owners ?!
 
I'd like to add that in general I agree with the better horses running for higher levels of prize money but I'm not at all comfortable with the elitist idea that you have to spend money in order to get an animal that is worthy of being in training and that all cheap horses are poor. The recurring theme throughout this debate seems to me to be that unless someone is willing to pay £25k+ on buying a horse, they shouldn't really be allowed to get involved or they are inferior to those who flash the cash.
 
I'd like to add that in general I agree with the better horses running for higher levels of prize money but I'm not at all comfortable with the elitist idea that you have to spend money in order to get an animal that is worthy of being in training and that all cheap horses are poor. The recurring theme throughout this debate seems to me to be that unless someone is willing to pay £25k+ on buying a horse, they shouldn't really be allowed to get involved or they are inferior to those who flash the cash.

Amen
 
I would be surprised if there wasn't a correlation between the price of a horse and it's quality. If anyone knows where I can get the data I'd be happy to crunch the numbers.
 
I would be surprised if there wasn't a correlation between the price of a horse and it's quality. If anyone knows where I can get the data I'd be happy to crunch the numbers.

Love to see the figures myself and I'm sure there is a general trend but not a rule of thumb. Of course as most horses would be sold within a particular price window it may not tell you anything. Unless you took large sample sizes from each price bracket I suppose........hmmmmmm,the more I think about it, the more I think....... good luck with that :blink::)
 
One problem would be how to deal with those horses who never make it to the track, or not often enough to be given an official rating.
 
The recurring theme throughout this debate seems to me to be that unless someone is willing to pay £25k+ on buying a horse, they shouldn't really be allowed to get involved or they are inferior to those who flash the cash.

Nope that is not my view at all. I can guarantee you one thing, if you go around the sales without a catalogue and just look at the horses, you will pick out maybe 10, 20, 30, 40 horses.....whatever. I bet if you go in to buy them you will be disappointed if you have 5k in your pocket. 25k just gives you more options. Fair dues to those that end up with the nice one for 5k but having the extra few bob always helps you get the one you really want. I only use 25k because that is my level and I would consider myself in the middle tier of owners who could never afford one for 50k but yet wouldn't drop to 5k or 10k because my view is that the biggest expense is the money you put in training the beast for the next four years, you better at least think you have a good 'un.

And I wouldn't be against dropping the prizemoney at the top either.
 
Will you still be looking to buy at circa 25k in the current buyers market.

Finally got a chance to read last weeks Irish Field. Tatts have an add in page A23.

Rare bob 37k 2002 NH Sale, resold 2005 Derby Sale €125k

Dunguib 2003 Nh Sale €13k

Fiveforthree November Nh Sale 2002 €6k

Barker November Nh Sale 2001 £2k punts.
 
Take the view that whatever X cost to buy in 2007, in 2008 the price had dropped from 50% to no sale at all. In other words, whatever might've cost Cantoris's theoretical £25K before the crash, should be around a much more affordable £15K now, less if the owner's desperate to offload. So his £25K now should buy him that horse which would have cost £50K back in '07 or earlier. There's such a buyer's market now, from foals to experienced and proven animals, that almost everything's a bargain.

I'll give you a tiny example, based on my personal (mis)fortune: bought the 5 y.o. mare DANETIME OUT (unraced) i/f to MAJESTIC MISSILE for £5000 at Goff's sales in Naas in February 2008 (oh, what terrible timing!). I'd looked at others which I'd liked, and they were costing around £38K - more than I and my friend, who was to co-own the mare with me, wanted to shell out. Nice big LINAMIX mare for £20K, all that sort of thing. But we got the DANETIME mare and eventually a healthy colt foal. By the time he went to the foal sales, the crash was underway and fingers were already getting chargrilled. He made the minimum bid at the foal sales. Okay, he's by an untried sire. Okay, he's out of an unraced mare by DANETIME, rather than DANEHILL DANCER (RIP), but £840?? He went to Ireland. We pursued, foolishly I know in retrospect, getting the mare i/f again, this time to PICCOLO, at a much reduced 'deal' of £3000. Eventually, my friend and I decided that we were just going to be hurling money at an industry which was failing, and sold her (i/f) for just £1000 to the stud which had taken her colt. Overall, a superb loss, since there was the sale entry fee of £540, transportation and preparation fees (preppers are the folks who walk your foals into the sale ring - they spend a few weeks giving them good foal feed, grooming them, and ensuring that they walk nicely to hand), and the months of keep. At least we got a home for them both, and the mare's produced a healthy filly by PICCOLO since - but even those foals of the much more expensive mares were failing to sell, and one's heard some pretty grim rumours about some foals going to the abbatoirs. So, sure, if you're in the market for a foal - you can get a nicely made, nicely-bred one for peanuts. Or, if you're like one buyer at Tattersalls, having bought one Irish foal, on checking the horsebox before driving the animal home, found it accompanied by another. The breeder said that's it, you take him, or I leave him behind - he's no value to me as he's unsold. So, BOGOF deals, too!

This would underpin Sheikh's notes about some very cheap, successful animals being available. Time and again I'm hearing from regular owners how they're stocking up on 2 y.o.'s which they've got at bargain prices - their older horses are being retired, because now they can afford to buy two or three instead of just one.
 
Thanks for that post Krizon. Just to add that when the horses mentioned in the Tatts add where sold it was boom time. You can see this by the fact that Rare Bob eventually went for 125k. The other three went for peanuts. Cantoris has stated that you can walk around the Sales and practically put a price on the animals before they go through the ring. This is true and this underlines the difference between a good Sales horse and a Good race horse. Two different things and the reason 3 of the 4 horses in the add where cheap during a period in Irish Bloodstock Sales when price was not a problem.
 
Rare Bob eventually went for 125k.

Don't tell me about it, we made one bid on him and were blown out of the water. bought Kimberlite King instead. In 2001 when we bought Brave Inca, we bid on Central House and bowed out early.

Well I will test the market for you guys. I've just pulled together a syndicate. Nine shares and 7 gone (including one for myself). I have two free is anyone is interested. We will be spending that €25k so let's hope we get a really nice horse....even if it's a sales horse rather than and racehorse!! I know what you mean though. Captain Bondi was a real sales horse, but not a racehorse. I won't buy a 4 year old again (although Hardy was a 4yo at the sales the year we bought Inca.....same day and all!!).
 
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