November 7, 2018
Crowd Racing, now anyone can own a racehorse
Purchasing a package in one of the ‘Crowds’ will turn you into a racehorse owner with access to a variety of benefits. These benefits include stable visits, days at the races and regular and exclusive information on your chosen horses. All owners are entitled to their pro-rata share of the prize-money and re-sale at the end of the defined period ownership.
Crowd Racing will always be delighted to answer any questions, and you can contact us by clicking here, but below you can find a selection of FAQs (Frequently Asked Questions).
HOW DOES CROWD RACING WORK?
Crowd Racing offers shares in racehorses with some of the top trainers in the UK and beyond.
Racehorses will be available on the site in the form of pitches, with each pitch containing all the relevant information on the horse, trainer and plans. Anyone can buy shares in any of the horses. You can also buy vouchers on Crowd Racing which can be offered as a gift or kept and used on future racehorses.
HOW DO I PAY FOR MY SHARE? CAN I PAY MONTHLY?
Crowd Racing accepts payments via PayPal, with payments taken on the platform. There is an option to make monthly payments, but with a small surcharge.
HOW OFTEN WILL MY RACEHORSE RUN, AND WHERE?
Crowd Racing will always put the well-being and long-term future of the horses first. The horses will run when they are ready, and the races will be planned and selected by the trainer.
We do have input on what is happening with the racehorses, but ultimately the expert is the trainer and they will make the final call.
There will be an indication of what we hope to achieve and how many runs a horse may expect to have on the pitch but there are some many variables, it is impossible to guarantee.
WHO WILL BE TRAINING MY RACEHORSE?
Currently, the Crowd Racing horses are in training with Jamie Osborne and Daniel Kubler in Lambourn, Berkshire and with Neil Mulholland in Bath.
The London Knight Crowd racehorses will be trained by William Knight and The Tartan Crowd will be trained by Lucy Normile.
For any new horse, the details of who will be training it will be included in the details of the pitch.
WHO CAN BUY SHARES IN RACEHORSES ON CROWD RACING?
Anyone can buy shares on Crowd Racing. Simply register on the site and follow the instructions.
DO I HAVE TO LIVE IN THE U.K. TO BUY SHARES ON CROWD RACING?
Absolutely not, as long as PayPal is accepted in your country you can buy shares in racehorses on Crowd Racing.
We will have racehorses in training across Europe and then the rest of the world soon enough, but if you want to own shares in horses trained in the U.K. and live abroad, then you are welcome to do so.
We already have owners abroad including owners from New York, Austria, Germany, Australia and Brazil.
WILL I BE REGISTERED AS AN OWNER WITH WEATHERBYS?
The racehorses will run in the name of the Crowd Racing Partnership, with nominated partners of Crowd Racing Limited. The ownership of the horses will sit within the partnership which will be ran and managed by Crowd Racing Partnership. All the owners who buy shares in the racehorse will be listed with Weatherbys as a non-nominated partner.
CAN I CHOOSE THE COLOURS THAT THE HORSE WILL BE RUNNING IN?
All the racehorses will run in the green and gold colours of Crowd Racing. We feel it is important to have the common colours across all the horses to help overlap the groups of owners and build a community of like-minded people who can interact and feel part of all of our racehorses.
HOW MANY RACES SHOULD I EXPECT MY HORSE TO WIN?
It is exceptionally difficult to win a horse-race, and therefore Crowd Racing will never guarantee that any racehorse we sell shares in, will actually win a race.
Everyone involved is pushing towards the horses winning, but the primary aim for Crowd Racing is to provide a wonderful ownership experience for our owners irrespective of whether the horses win or not.
HOW OFTEN WILL I GET TIPS ON WHICH HORSES FROM THE STABLE WILL WIN?
Crowd Racing is not a tip service, nor do we get involved in backing racehorses. Obviously, owners are free to choose what horses they or don’t back, but if your sole purpose of getting involved in a racehorse is to get inside information, then we are the wrong company.
You will receive a weekly newsletter from the stable which will tell you what horses they do have running, but this is not a tipping service, nor should be viewed as one.
HOW MUCH MONEY SHOULD I EXPECT MY RACEHORSE TO WIN?
Unless racehorses are running in the very best races in the U.K., prize money is not great and as mentioned in the previous question, not many racehorses actually do win races every year.
We will be striving for the Crowd Racing horses to earn some prize money, but you set your expectations low. Very low.
SHOULD MY HORSE WIN, WHEN DO I GET MY PRIZE-MONEY?
Prize money will be split on a pro rata basis at the end of each ownership period. In exceptional circumstances, if significant money is won, we will do an interim pay-out.
WILL I MAKE A PROFIT WHEN MY RACEHORSE IS SOLD?
The value of racehorses is notoriously volatile and it is impossible to predict whether the value of your horse will increase or decrease. There have some fantastic examples of syndicate horses making huge amounts of profit in recent months, but these are very much few and far between.
We do hope to be able to make profits on the horses but as with prize money, the expectations should be low.
WHEN CAN I VISIT MY RACEHORSE AND THE STABLES WHERE HE/SHE IS TRAINED?
Crowd Racing will host regular Open Days at the stables, and depending on the level of ownership you take you may be entitled to additional more intimate visits to the yard. Our trainers will always and try and accommodate visitors whenever possible but we do try and keep the visits to the plans wherever possible.
WHO GETS TO CHOOSE WHO RIDES MY RACEHORSE?
This decision sits firmly with the trainer, with a little input and / or nudging from us. To date Crowd Racing have used a whole range of jockeys, always trying to secure the best available.
Martin Lane, David Parkes, Adam Kirby, Fran Berry, Royston Ffrench, Freddie Tylicki, George Baker, Trevor Whelan, William Cox, Adam Beschizza, Martin Harley, Dougie Costello and Richard Kingscote have all ridden for us and we would be delighted to have any of them on board one of our horses again.
WHAT HAPPENS IF MY RACEHORSE GETS INJURED?
Crowd Racing take insurance out for all of our horses, and the insurance costs and any vet costs are included in the initial payment made. You don’t need to worry about incurring costs from an injury, the horses will get the best possible care.
WHAT IF I NO LONGER WISH TO BE AN OWNER, CAN I SELL MY SHARE?
Unfortunately not. Shares are unable to be sold mid-term and you would need to wait until the end of the time period defined in the pitch.
IF I AM DUE ANY MONEY BACK FROM THE SALE OF THE HORSE, OR FROM THE SALE OF MY SHARES, HOW DOES THAT HAPPEN?
Unfortunately, this process can take a little bit time. It is not instant. We aim to make sure that proceeds from the sale of the horse are with you with 90 days and this will be done via bank transfer unless you stipulate otherwise.
If the amount due back is under £50, it will be provided as a credit for use on Crowd Racing for either a share in another horse or gift vouchers. If you prefer a payment to be made, we can do this after deducting our bank charges or we can donate to the Injured Jockeys Foundation.
WILL THE OTHER OWNERS KNOW WHAT SIZE SHARE I OWN IN MY RACEHORSE?
Not unless you tell them.
WHAT FEES DO I PAY TO CROWD RACING?
Crowd Racing fees are included in the initial paid for your share, and you won’t need to pay anything further to us. Crowd Racing also takes a small fee at the end of the defined period, from the proceeds of the prize money and sale of the racehorse.
IF THERE IS A FINANCIAL GAIN AT THE END OF THE PERIOD OF OWNERSHIP, AM I LIABLE FOR TAX?
Crowd Racing is not qualified to offer tax guidance, but it is our understanding that tax would not be due. It is imperative that owners take their own tax advice, however.
ARE YOU AUTHORISED BY THE FCA (FINANCIAL CONDUCT AUTHORITY)?
Crowd Racing is not authorised or regulated by the FCA. There is no requirement for Crowd Racing to be authorised or regulated by the FCA.