Ownership Survey by Keely Brewer

The Horse Population Ownership & Breeding Pillar of the industry strategy identified an aspiration to grow racehorse ownership and enhance the ownership experience, both on and off the racecourse. Ownership levels have fallen by 15% in the past decade – how do we reverse this? 10,000 9,500 9,000 8,500 8,000 7,500 7,000

Registered Owners with Horses-in-Training

Understand all owners to reveal actionable insights that informs how the industry grows racehorse ownership

Since 2008, the industry has been losing more owners than it has been acquiring. How do we retain and recruit more owners?

19% 17%

% of owners

15% 13% 11% 9% 7% 5%

2006

2007

2008

2009

Lapsed Owners (BHA database)

2010

2011

2012

New Owners (BHA database)

2013

2014

2015

National Racehorse Owners Survey LIVE!

Telephone Surveys 30 New, Lapsed, Experienced Owners

(12th April)

(Feb-Mar)

Owner Data Analysis 2006-15

(Mar)

Stakeholder Presentations ROA, GBR, NTF, The Horsemen’s Group, Jumps Review Group, Northern Jumps Review Group, The Racecourse Association

(TODAY!)

Focus Groups

2 x York, 2 x London

(2nd and 7 th June)

Initiatives and Final Reccomm. (end June)

The National Racehorse Owners Survey was live from 12th April – 3rd May 2016.

 Create consistent way of measuring ownership experience  Understand attitudes and motives of all owners – including ‘hard to reach’  Help industry inform initiatives to grow ownership Two Circles created survey. ROA and BHA distributed through various channels to achieve a representative sample.

Target Groups  Current owners – New (2 years or less) and Experienced  Lapsed owners  Ownership types – Sole, Joint, Company, Racing Partnerships (Syndicates)

Distribution Channels  ROA channels – email, website, socialmedia  BHA and Weatherbyschannels  Champions Series – email, website, social  Racing UK, At the Races, Racing Post  NTF, TBA,TOB  Syndicate groups  RCA and racecoursechannels

Direct Email

1,718 (78%)

Racing Post Website

? 118 (5%)

Kim Bailey Blog

Facebook

(1%)

(4%)

Respondents are representative of current owners by demographic profile. AGE

GENDER Survey Respondent

18- 24 25- 34

35- 44

(79%)

9% 23%

45- 54 55- 64

31%

65- 74 75+

2015 Owners Database

25%

(21%)

ANNUAL INCOME(£) REGION

<50k

South East South West

15%

Yorkshire

Scotland Other

7% 6%

12%

6 5

150k – 300k 300k-400k >400k

9 8

100k–150k

9% 8%

London

East Midlands

50k -100k

DOWN 10 MARKET

10%

West Midlands East North West

19%

SOCIO-ECONOMICPROFILE

5% 4% 3% 7% 7% 16%

3 2 UP MARKET

16% 6%

35%

– We’ve had strong response from known, experienced, current owners across all ownership types. 0%

10%

Sole Ower

719

Joint Friends/Family

655

Syndicate

503

Racing Club

111

Other

104

Company

1-2 years

90 163 285

5-9 years

365

More than 10 years

21 123

Joint Owners

31 18

Known to ROA or BHA Unknown to ROA orBHA

Companies

Racing Partnerships

20%

3-4 years

40%

Sole Owners

Length of involvement Less than 12 months

30%

LAPSED OWNERS

20%

1,097

40%

60%

Racing Code KNOWN ACTIVE OWNERS 0%

Flat Jump Bot h

20%

686 732 582

UNKNOWN OWNERS

# Horses involved with 0%

40% 1

529

498

3-4

490

5-10

343

More than 10

140

10%

20%

30%

‘

’

We’ve had good response from the ‘hard to reach’ groups too.

Sole Owners

…

New Members - 0-2 years Joint Owners

255

Lapsed MembersCompanies

203

208

Not an ROAMember

652

29%

Syndicate Member not registered

146

Own in more than 1 way

394

18%

Racing Partnerships Not registered with BHA/Wetherbys

KNOWN ACTIVE OWNERS

UNKNOWN OWNERS

12%

LAPSED OWNERS

The following primary segments have been used to analyse the survey responses.

Experienced Owner (3+ years)

Sole Owner

New Owner (Less than3 years)

Syndicate Owner

Lapsed Owner

Joint with Family/Friends Company

Racing Club

SAMPLE

Q. SURVEY QUESTION

SAMPLE SIZE

National Racehorse Owners Survey

of Racehorse Owners started out with others

Started with f riends/family

All Owners

Started througha syndicate

Q. When you first got involved in ownership, which of the following ways of owning was that? (select one)

St arted solely

2,203 responses

Focus group feedback revealed that syndicates are a particularly valuable entry route into owning. If you’re targeting the younger generation – syndicates are the easiest way in You can easily have a 5% share for 1,500 or 2,000 a year…that’s not unattainable

The first level is syndicates…you can buy 2.5% for a grand a year One of my syndicate members started last year with me and he owns his own horse now You’re buying unique involvement in sport at a minute level

Focus Groups

Feedback from 4 focus groups, 2 in York and 2 in London, covering a mix of new, experienced and lapsed owners.

31 attendees

Nearly one in four owners have taken a break, most due to finances or horse injury.

The expense of owning was unsustainable for a few years. Male, 55-64

Wanted to remain as sole owner but found I could no longer afford it. Male, 65-74

owners have taken a break (22%)

Appalling financial return on ownership.

Our horse was fatally injured during a race.

Female, 55-64

Male, 65-74

Low prize money not paying training fees.

Lost horse due to injury. Also first horse was talented, others not so good.

Male, 18-24

Male, 55-64

Current Owners

Q. Since becoming an owner for the first time, have you ever had a break from racehorse ownership for more than one year?

2,000 responses

Taken a break…

Q. What was the reason for your break in racehorse ownership?

475 responses

– 73% of Racehorse Owners started out with others.

Nearly one in four owners have taken a break, most due to finances or horse injury.

National Racehorse Owners Survey

of Racehorse ownerssay speaking to a trainer, or visiting a yard, was the mostinfluential step in theirdecision

All Owners

Q. Which was the most influential in your decision to become involved in owning a racehorse?

2,203 responses

The most influential steps to ownership are speaking to a trainer or to other owners.

10%

20%

30%

40%

Spoke to a trainer Visited a yard Spoke to other owners Other Researched Online

New Owners

Saw an advert Attended a non-racecourseevent Spoke to someone at a racecourse

Selected as most influential factor Did before becoming involved

All Owners

Q. Did you do any of the following before deciding to become involved in owning a racehorse?

2,203 responses

All Owners

Q. Which was the most influential in your decision to become involved in owning a racehorse?

2,203 responses

Owners want more information on costs and trainers.

All Owners

Q. What else would have helped when you were considering racehorse ownership? Please state

1,488 responses

– Owners want more information on costs and trainers.

More knowledge re: selecting the right trainer for our group and for the horse.

More information covering potential income/expenditure. Prize money distributed & potential insurance costs. Male, 25-34

Female, 55-64

Training fees of different trainers being more in the public domain. Male, 55-64

A list of trainers who purposely want to engage with new owners and encourage participation in racing. Male, 55-64

Clear cost models for all potential expenses relating to having a horse in full training and racing! Male, 55-64

It is important all potential owners fully understanding the financial impact of owning racehorses. Many people don't fully understand what they are getting into. Male, 45-54

All Owners

Q. What else would have helped when you were considering racehorse ownership? Please state

1,488 responses

Focus group feedback revealed that there is an appetite for an online directory or platform. We need a page on what the likely expenditures are…it is about bringing that information together in one place You just don’t know about all the rip-off merchants out there…the charletons What you need is to feel that whoever you’re speaking to is impartial…you can’t help that think that maybe it’s the ROA

Focus Groups

What about an interactive platform on the web…that asks you questions and gives recommendations We need an online platform where you can access what it is all about…can be complex or can be simple, but we need it

Feedback from 4 focus groups, 2 in York and 2 in London, covering a mix of new, experienced and lapsed owners.

31 attendees

There are four stages an owner goes through in the decision to become involved in ownership.

Not aware of racehorse ownership

 Racecourse & raceday exposure  TV coverage of racing  Racing news and PR

Aware of racehorse ownership but do not consider a viableactivity

Consider ownership

Own

 Information online  Yard visits and nonracecourse events  Interaction with trainers and other owners

1) 73% of Racehorse Owners started out with others.

–

2) Nearly one in four owners have taken a break, most due to finances or horse injury.

The most influential steps to ownership are speaking to a trainer or other owners.

New owners take more decision steps and are more likely to research online.

Owners want more information on costs and trainers.

National Racehorse Owners Survey

Ownership is born out of family history, keen interest in racing or attraction to the excitement. I grew up with racing and my family owned horses. Male, 65-74

I grew up involved through working with and around Horseracing and thought about ownership for many years. Female, 35-44

The excitement and involvement with the horse. Male, 55-64

I love the thrill of ownership and with 8 of us in 2 horses it's not madly expensive, 5 wins from 12 runs helps! Male, 65-74

I am a huge horseracing fan and owning a racehorse had always been a dream; that dream has now become areality. Male, 45-54

All Owners

Q. Why did you decide to become a racehorse owner?

2,203 responses

Both raceday and non-raceday elements attract people to ownership.

10%

20%

30%

40%

50%

60%

70%

80%

Enjoyment of watching your horse run The non-raceday elements Dream to win races Enjoy social aspect of racing with my friends I love horses and wanted a deeper association with the thoroughbred

Owning is like watching your team play football at home, rather than watching teams you’renot associated with

Enjoy racing with my family Access to Owners’ facilities at racecourses Extension of breeding interest A betting interest and a means of "being in the know"

I’m proud to be an owner It’s the tremendous connection you feel with the horse

Prize money

All Owners

Q. Which of the following were most important in your decision to become involved in owning racehorses? Select up to 3

2,203 responses

– New owners are motivated more by the social aspects of racing.

20%

40%

60%

80%

Enjoyment of watching your horse run The non-raceday elements Dream to win races Enjoy social aspect of racing with my friends I love horses and wanted a deeper association with the thoroughbred Enjoy racing with my family Access to Owners’ facilities at racecourses Extension of breeding interest A betting interest and a means of "being in the know"

New Experienced

Prize money

All Owners

Q. Which of the following were most important in your decision to become involved in owning racehorses? Select up to 3

2,203 responses

1) 73% of Racehorse Owners started out with others.

–

Ownership is born out of family history, keen interest in racing or attraction to the excitement.

New owners are motivated more by the social aspects of racing.

National Racehorse Owners Survey

… ...an expensive, but exciting, rollercoaster!

All Owners

Q. Describe racehorse ownership in one word. Please state

2,203 responses

…

–

New and syndicate owners think of the excitement above the expense.

NEW OWNERS

EXPERIENCED

SOLE ONLYOWNERS

All Owners

LAPSED

SYNDICATE ONLYOWNERS

Q. Describe racehorse ownership in one word. Please state

2,203 responses

1) 73% of Racehorse Owners started out with others.

–

Racehorse Ownership is an expensive, but exciting, rollercoaster!

New and syndicate owners think of the excitement above the expense. National

Racehorse Owners Survey

National Racehorse Owners Survey

– Owners enjoy the sense of being involved and privileges on a race day.

Being involved and being in the parade ring when jockeys mount up. Male, 55-64

Meeting the jockey before the race and the de-brief after Male, 55-64

It's good to get the horse to the racecourse, to be involved, to have the excitement and anticipation of the performance Male, 45-54

Good facilities and being treated well by the racing fraternity Male, 55-64

The privileges given to Owners in the way of tickets to take friends, hospitality given and generally being made to feel important Female, 75+

Attending the parade ring, favourable car parking, and, in some cases, the Owners and Trainers facilities such as at Ascot or Goodwood. Male, 65-74

Not ROAmembers

Q. Thinking about your racecourse experience, what aspects do you enjoy most about attending a raceday as an owner with a runner? Please state

1,409 responses

– Owners find the racecourse experience to be inconsistent. Being treated by some racecourses as a very valued customer. There is a huge gulf between the best and the worst in both how you are treated and in prize money offerings Male, 55-64

Some consistency in how owners are treated in terms of parking and facilities. There are some real lows. Male, 45-54

Better treatment of owners by some courses Female, 55-64

Not ROAmembers

More prize money and better owners' facilities at some of the smaller tracks Male, 55-64

Prize money increased and placed money down to sixth and even some sort of prize for all participants Female, 45-54

Needs to be better prize money unfortunately, it's not a sport where the financial rewards are evenly spread. Needless to say I don't have a Grade 1 horse! Male, 45-54

Q. What enhancements to the raceday experience would you value as a racehorse owner? Please state

1,294 responses

Owners talk about ownership all the time – how do you use them as your sales force?

Net PromoterScore

% Promoters

% Detractors

NETFLIX ALL SPORT - 100

+25

+50

+75

+100

To find out more about Net Promoter Score: www.en.wikipedia.org/wiki/Net_Promoter

All Owners

Q. How likely are you to recommend owning a racehorse to a friend?

2,203 responses

– Owners are not likely to recommend owning a racehorse to their friends, driven by the high proportion of passives (7 or 8 out of 10). 25%

20%

15%

10%

All Owners

Q. How likely are you to recommend owning a racehorse to a friend?

Owners are not very likely to recommend ownership to others

2,203 responses

– New and syndicate owners are most likely to recommend it to others, as are those that enjoy a high level of success.

- 50

All Owners

- 25

Q. How likely are you to recommend owning a racehorse to a friend?

+ 25

2,203 responses

Their favourite aspects of ownership are the thrill of watching their horse run, training and the social aspect of racing. Enjoyment of mixing with like minded people from all walks of life. Male, 55-64

The buzz of going to the racecourse, the excitement and anticipation of seeing you horse perform and enjoying the social aspect. Male, 45-54

Becoming emotionally attached to the horses. Male, 45-54

All Owners

Q. What aspect about being an owner do you enjoy most?

Going to watch them run and hopefully be competitive! Male, 55-64

Those rare but wonderful days when your horse wins. Female, 55-64

Being able to be close to my own horse, help saddle at the races etc, discuss tactics etc with the trainer, and to enjoy the horses individual personalities. Female, 45-54

1,889 responses

Better prize money for smaller owners and improved racecourse experience would enhance ownership. An increase in prize money so that at least we would have the chance of maybe breaking even. Male, 55-64

Prize money and more help for smaller owners who maybe aren't getting any prize money back throughout the year. Female, 35-44

Better prize money for British racing and spread more evenly. Male, 55-64

More consistent approach from racecourses in looking after owners. Male, 55-64

More uniform experience/service level at racecourses. A required minimum standard at very least. Female, 25-34

Better facilities at some racecourses for owners. New owners, no matter how small are surely the future of racing and at some course should be treated much better. Male, 45-54

All Owners

Q. What aspect about being an owner do you enjoy most?

1,958 responses

Winning is an important bonus, not the end all and be all.

Winning is everything

41%

Winning is important, but not the end all and be all

35%

Winning is an extra bonus

14%

Winning is not important as long as my horse is competitive

All Owners

Winning is not important at all

I don't know

Q. Please select which of the following statements best describes your thoughts on winning races?

2,203 responses

1) 73% of Racehorse Owners started out with others.

–

2) Nearly one in four owners have taken a break, most due to finances or horse injury. 3) The most influential steps to ownership are speaking to a trainer or other owners. 4) New owners take more decision steps and are more likely to research online. 5) Owners want more information on costs and trainers. 6) Ownership is born out of family history, keen interest in racing or attraction to the excitement. 7) New owners are motivated more by the social aspects of racing. 8) Racehorse Ownership is an expensive, but exciting, rollercoaster! 9) New and syndicate owners think of the excitement above the expense.

Owners are not likely to recommend owning a racehorse to their friends.

National Racehorse Winning is an important bonus, not the end all and be all. Owners Survey

National Racehorse Owners Survey

–

75% syndicate manager 15% racing manager 5% another member of training team 5% unsure

Of owners deal directly with their trainer

of owners deal with someoneelse

Trainers and managers were scored on these criteria… Approachable

They are friendly and easy to talk to if you have questions

Communicative

They stay in touch regularly and are proactive, flexible and accommodating offering updates that include photos and videos

Informative

They give you accurate and detailed information on your horse including day to day training and race plans

–

Trainers are approachable, but could communicate more information more regularly.

APPROACHABLE COMMUNICATIVE INFORMATIVE

9.1

INFORMATIVE

8.3 Communicative

APPR OACHABLE UNICATIV

E INFO All Owners All Owners

RMATIV

APPROACHABLE

8.8

COMMUNICATIVE

Approachable

COMM

Managers are more communicative, but could also provide more information regularly.

9.3

9.2

8.5 8.2

Informative

APPROACHABLE

9.1

COMMUNICATIVE

9.2

INFORMATIVE

9.2 2,203 responses 2,203 responses

1) 73% of Racehorse Owners started out with others.

–

Trainers are approachable, but could communicate more information more regularly.

National Racehorse Owners Survey

of Lapsed Owners cite facilities and treatment of owners at racecourses as a factor

Lapsed Owners

of Lapsed Owners cite not a good trainer experience as a factor

Q. Can you please indicate how important the following factors were in your decision to stop owning?

203 responses

Costs and prize money are most cited lapse reasons, but racecourse (44%) and trainer (29%) experience are crucial. 0%

20%

40%

60%

80%

100%

Cost of keeping a horse in training Poor Prize money I needed to redirect my money to other things Facilities and treatment of owners at racecourse Limited Success Not a good trainer experience Time constraints I lost interest I didn’t get on with others in my syndicate

Lapsed Owners

Q. Can you please indicate how important the following factors were in your decision to stop owning?

Extremely Important Important Neither Not important Not important at all

203 responses

– 3 out of 4 lapsed owners would return to owning if the circumstances were right. I miss the involvement and excitement of ownership. I do feel that trainers don't do enough to attract owners both old and new Male, 45-54

Owning racehorses is a brilliant experience. To be able to see them train and build up to the races is also really exciting Male, 25-34

I do not have the time to really take advantage of my involvement. Will definitely get back involved when I can Female, 55-64

Lapsed Owners

of lapsed owners would probably or definitely return Loved having a racehorse and the experience but due to having my own horses undertaking health treatment, I had to give up Female, 18-24

Q. If it were possible for you to get back into racehorse ownership, is this something you would be interested in?

203 responses

1) 73% of Racehorse Owners started out with others.

–

National Inconsistent racecourse and poor trainer experience are crucial Racehorse controllables to retention. Owners Survey 3 out of 4 lapsed owners would return to owning if the circumstances were right.

National Racehorse Owners Survey

– ROA members are much more likely to remain in ownership for ten years or more, compared to all registered owners. 40% 35%

years

30%

% of owners

25%

years

Average Duration of Ownership for a registered owner

20%

Average Duration of Ownership foran ROA member

15% 10% 5% 0%

Duration of ownership All Registered Owners (BHA database)

ROAMembers (BHA database)

–

1) 73% of Racehorse Owners started out with others.

13) Inconsistent racecourse and poor trainer experience are crucial controllablesNational to retention.

Racehorse Owners Survey

14) 3 out of 4 lapsed owners would return to owning if the circumstances were right.

The perception is that ROA membership is for sole/majority owners, and isn’t good value for others.

National Racehorse Owners Survey

1) 73% of Racehorse Owners started out with others. 2) Nearly one in four owners have taken a break, most due to finances or horse injury. 3) The most influential steps to ownership are speaking to a trainer or other owners. 4) New owners take more decision steps and are more likely to research online. 5) Owners want more information on costs and trainers. 6) Ownership is born out of family history, keen interest in racing or attraction to the excitement. 7) New owners are motivated more by the social aspects of racing. 8) Racehorse Ownership is an expensive, but exciting, rollercoaster! 9) New and syndicate owners think of the excitement above the expense. 10) Owners are not likely to recommend owning a racehorse to their friends. 11) Winning is an important bonus, not the end all and be all. 12) Trainers are approachable, but could communicate more information more regularly.

13) Inconsistent racecourse and poor trainer experience are crucial controllablesNational to retention.

Racehorse Owners Survey

14) 3 out of 4 lapsed owners would return to owning if the circumstances were right.

15) The perception is that ROA memb. is for sole/majority owners, and isn’t good value for others.

 PR of ownership excitement and social elements  Syndicates as accessible route in  Awareness at race days and frequent racegoers

 Template method of explaining costs  Owner website with trainer and syndicate directory  Interactive recommendation platform

 Trainer benchmarking  Recognition and reward  Kitemarks and industry accreditation  Support with business setup

 Racecourse minimum standard = premium  Reward placed horses and/or all participants  Promote excitement over expense

 Open days and yardevents  Support trainers in promoting their services  Communicate importance of role to trainers

 Provide new member benefits – mentors?  Events – invite lapsed owners and trainers  Credible, trusted voice that listens

FOR HAVING US

@twocirclessport

Devesh Mangtani Lara May Jon Downer

– Active, registered owners are predominantly male, with a similar gender split to that of British sports attendees.

– The racehorse owning population is much older than the GB population, racing and sports attender audience.

Aged between 55 and 74

Average Age 2015 Active Owners

% of group

2015 Active Registered Owners

UK Population

– Syndicate owner respondents are less wealthy than sole owners.

% OFRESPONDENTS ANNUAL INCOME (£)

10%

20%

30%

40%

Less than 50,000

35%

50,000-100,000

100,000 - 150,000

150,000 - 300,000

31% 17%

All Owners Sole Owner

300,000 - 400,000

400,000 or more

Syndicate Owner

– LAPSED OWNERS Sole Owners

Joint Owners

Companies

Racing Partnerships

KNOWN ACTIVE OWNERS

UNKNOWN OWNERS

The experience of racing and success of horses does not differ greatly for this “joint to sole” owners, but they are more likely to have a higher passion for racing.

40%

25%

Joint to Sole Owners 20%

Other owners

30%

15% 20% 10% 10%

Of Joint to sole owners say racing is a passion they cannot live without compared to

Of all others

Distinctly passionate following for the code – “more interesting and challenging than Flats”. Iconic races inspire owners – “Always loved jumps dating back to the Grand National as a child”. Experience scores and attitudes to ownership for jumps is consistent with the overall picture. In fact, owners involved in jumps (including northern) rate their overall and trainer experience as marginally better than flats which reflects their stronger passion for the code.

The most influential steps to ownership are speaking to a trainer or to other owners.

10%

20%

30%

40%

Spoke to a trainer Visited a yard Spoke to other owners Other Researched Online Saw an advert Attended a non-racecourseevent Spoke to someone at a racecourse

Had a pint with my trainer’s brother Male, 35-44

Discussed with friend who was a breeder Male, 35-44

From connection as a professional adviser to a racehorse trainer Male, 35-44

Selected as most influential factor Did before becoming involved

All Owners

Q. Did you do any of the following before deciding to become involved in owning a racehorse?

2,203 responses

All Owners

Q. Which was the most influential in your decision to become involved in owning a racehorse?

2,203 responses

– New owners are taking more steps to ownership than previous owners did.

steps Average number of steps taken before making ownership decision

All Owners

steps Average number of steps taken before making ownership decision

Q. Did you do any of the following before deciding to become involved in owning a racehorse?

2,203 responses

– Whilst speaking to a trainer and other owners are the most influential in their decision, new owners do more research online.

Spoke to a trainer Visited a yard Spoke to other owners Other Researched Online Saw an advert Attended a non-racecourseevent Spoke to someone at a racecourse

Selected as most influential factor Did before becoming involved

New Owners

Q. Did you do any of the following before deciding to become involved in owning a racehorse?

255 responses

New Owner

Q. Which was the most influential in your decision to become involved in owning a racehorse?

255 responses

58% of owners say there is enough information available – but 42% of new owners say there isn’t. 0%

20%

40%

Yes, there is enough information available

I'm not sure

60%     

80% Trainer website – 3% BHA website – 3% Syndicate site – 3% Racing Post – 3% ROA website – 1.5%

All Owners New Owners

No, more information is needed

No, there is definitely not enough information available

Online researched

Q. Which websites did you visit while deciding to become involved in owning a racehorse? Please state

316 responses

All Owners

Q. Did you think there was enough information available to help your decision to own a racehorse?

2,203 responses

Owners would have used a mentorship forum when they were new, with 72% of new owners showing an interest. 0% Yes, definitely

10%

20%

30%

50%

40%

Of new owners would definitely or probably have used it

Yes, probably

All Owners I'm not sure

New Owners

No, definitely not

No, probably not

All Owners

Q. If the industry provided a forum for experienced owners to offer advice and mentorship to new owners, or to those thinking about becoming racehorse owners, would you have used it?

2,203 responses

When prompted, owners pick the same phrases, but exciting and fun score above expensive and frustrating respectively. 0%

10%

20%

30%

40%

50%

60%

70%

Exciting

76%

Expensive

66%

Fun

53%

Frustrating

41%

Social

32%

An escape

15%

Affordable

Time-consuming

Elitist

All Owners

80%

Q. Which of the following phrases would you use to describe owning racehorses?

2,203 responses

New owners initially forgive the expense for the social, fun escape ownership offers. 0%

20%

40%

60%

80%

100%

Exciting Expensive Fun

New

Frustrat ing

Experienced

Social

Lapsed

An escape Aff ordable Time-consuming Elitist

All Owners

Q. Which of the following phrases would you use to describe owning racehorses? Select 3

2,203 responses

– Winning is more important for sole and joint owners, and an extra bonus for syndicate and company owners. Winning is everything

Winning is important, but not the end all and be all

Winning is an extra bonus Sole Owner

Winning is not important as long as my horse is competitive

Syndicate Friends/ Family

Winning is not important at all

Company

I don't know

Racing Club

All Owners

10%

20%

Q. Please select which of the following statements best describes your thoughts on winning races?

30%

40%

50%

2,203 responses

– Winning is not the end all and be all.

= Success 0-7/10 and Experience 8+/10

Experience rating (out of 10)

10 9 8 7 6 5 4 3 2 1 0

Success rating (out of 10) All Owners

Q. Thinking about the entire experience, please rate your overall racehorse ownership experience out of 10.

2,203 responses

All Owners

Q. How successful do you consider your horse(s) to have been at the races?

2,203 responses

Location is important for all groups, with syndicate owners feeling it is important, but not extremely so. 0%

10%

20%

30%

40%

50%

Extremely important 19% Important 47% Neither important nor unimportant 24%

All Owners Sole Owners

Not important 8% Not important at all 2%

Family and Friends Syndicate

Trainers are approachable, but could communicate more information more regularly.

(Out of 10)

All Owners All Owners

(Out of 10)

Q. Please rate your relationship with this person (trainer or racing/partnership manager) on the following criteria (out of 10) Q. How important do you think these dimensions are when considering the relationship between an owner and their trainer/manager?

2,203 responses 2,203 responses

Trainers are crucial to the enjoyment of owners and have a real impact on experience. Seeing my colours and being proud of the condition of my horse due to excellent trainer and staff. Male, 55-64

The planning with the trainer and then that plan coming together and resulting in that all important winner Male, 45-54

Discussing riding tactics with my trainer and jockey pre race then watching them being followed during the race.

Visiting the yard to be able to spend time with my horse, the trainer and stable staff Male, 55-64

We are lucky in that we have a trainer who shares in our pleasure in planning a race or a campaign. Female,45-54 Close relationship with trainer and horse. Watching that horse grow and mature. Female, 55-64

Male, 65-74

All Owners

Q. What aspect about being an owner do you enjoy most?

1,889 responses

There is a feeling that trainers could enhance and update their communication methods and be more transparent. With the advent of advanced media it is now possible for trainers to give you a glimpse of your horse working without you having to be there at the crack of sparrow. Those trainers that embrace the new methods will involve their clients more and improve relationships. Male, 55-64

Trainers being more informative and upfront when problems arise. Male, 55-64

Some provide videos and pictures through their website..that’s a great benefit and one we should see more

More transparency in the sport and trainers who don’t lie to line their own pockets. Male, 45-54

Make me feel comfortable asking Rookie questions. Make me feel like they want me at the yard

Owning a horse is one thing. Having a good / sociable / honest / approachable / listening trainer is another. Male, 55-64

Focus Groups

Feedback from 4 focus groups, 2 in York and 2 in London, covering a mix of new, experienced and lapsed owners.

31 attendees

All Owners

Q. What would enhance the overall experience of owning a racehorse?

1,958 responses

– Owners whose horses have been more successful consider their trainers to be better at all three attributes that unsuccessful owners.

COMMUNICATIVE

7.8

9.4

8.9

All Owners

8.6

APPRACHABLE

8.0

Successful Horses All Owners

8.8

9.0

APPROACHABLE

INFORMATIVE

COMMUNICATIVE

8.5

8.1

INFORMATIVE

8.8

8.0 8.7

Unsuccessful Horses

2,203 responses 2,203 responses

Lapsed owners rate their trainers significantly lower for all three trainer attributes, indicating they may be a factor in the lapsing process.

“Thinking about the person you deal with most directly for your racehorse, whether trainer or syndicate/racing manager, please could you rate your relationship with this person on the following criteria?”

‘

’

All owners, particularly those new to ownership, express an interest in a trainer/manager ‘trip advisor’. 0%

10%

20%

30%

40%

50%

Yes, I would definitely use it

Yes, I would probably use it

of new owners would probably or definitely use a feedback service

Maybe, I would consider using it

No, I probably wouldn't use it

New No, I definitely wouldn't use it

All Owners

Experienced Lapsed

Q. If regular feedback from owners on the above dimensions was collected and published, with the aim of helping owners better understand the service they could expect from trainers and syndicate managers, would this information be something you would use?

2,203 responses

– There is a sense among jump owners that prize money must be improved, and a better distribution across the field. If, as it is currently in jump racing, there is no realistic chance to even cover your training and running costs then i am less likely to have horses.As stated previously it is not necessarily just an increase in prizemoney. It should be better distributed . Male, 45-54 The overall cost…the prize money is so much less in jump racing that it would be much less likely I could have a chance of breaking even. So I would always go for a flat racing horse. Male, 35-44

All Owners

Prize money at grass roots including in hunters chases must go up. Newbury offered £27 more for first place this year than it did in 1982 for its March hunters chase. Male, 25-34 Better prize money at the lower end of jump racing Male, 55-64

The prize money in national hunt racing is still embarrassing. It should never cost more to transport your horse to the race and to race it than the money one earns from placing in arace. Female, 65-74

Q. In your opinion, what would enhance the overall experience of owning a racehorse? Please state

2,203 responses

…

of current owners would increase number of horses in training if prize money increased

Current Sole Owners

Q. If prize money were to increase from current values by, for example, 20%, which of these five statements best describes how you would be affected?

1,329 responses

… If prize money increased, current owners would alter the number of horses in training.

45%

It would affect the number of horses I have in training

38%

I would not be affected at all

11%

It would affect the type of horse(s) I purchase

It would affect how often I run my horse(s)

It would affect who trains my horse(s)

Current Owners

Q. If prize money were to increase from current values by, for example, 20%, which of these five statements best describes how you would be affected?

1,360 responses

… Current owners say they will reinvest the increased prize money back in to the sport through being involved with more horses.

If I felt I might get a better return to reinvest in my passion I might extend my initial expense Female, 45-54

It would enable me to contemplate being involvedwith another syndicate. Male, 65-74

More money to spend on my hobby. I have a fixed budget Male, 65-74

If prize money was better (including more prize money for finishing in lower places) it would help to cover more of the race day expenses which would hopefully make it more affordable to have more horses. Female, 25-34

we had a horse which won four times last year and still did not break even. our winnings go back into the pot a larger pot might allow an expansion in our numbers. Male, 55-64

Current Sole Owners

Q. How would the increase in prize money affect the number of horses you have in training?

583 responses

Most Current owners say they will be involved with the same number of horses as now in three years. 0%

10%

20%

30%

40%

50%

60%

Same as now

Less than now

More than now

Not sure

I will have given up ownership altogether

Current Owners

Q. Looking ahead three years on inform now, how many racehorses do you think you will be involved with?

2,000 responses

Majority of sole owner respondents were ROA members and, as expected, the growth opportunity lies with syndicate owners. 0%

20%

40%

60%

80%

37%

I’m a member of the ROA

Sole Owner

29%

I’ve never considered joining the ROA

Syndicate Lapsed

20%

I’ve considered joining the ROA

I used to be a member of the ROA

I have never heard of the ROA

All Owners

Q. What is your relationship with the ROA?

2,203 responses

The ROA giving a voice to owners is a strong motivator, as are the benefits offered. Nice to have an organisation that supports owners behind you. In the case I had a legal dispute with the trainer, ROAgave me advise on the matter and how to proceed. Male, 55-64

Owners have very little voice within the industry, being a member of the ROA improves this aspect. Male, 55-64

Owners need a representative body when dealing with the various bodies that do not have owners interests at heart.

Third Party Insurance mainly, plus the free entry to courses. Male, 25-34

I first joined to take advantage of their third party insurance cover. Male, 65-74

Car park facilities and free access to courses. Insurance benefits and advice. Female, 65-74

Male, 75+

ROA members

Q. What influenced your decision to become an ROA member? Please state

1,103 responses

The perception is that ROA membership is for sole/majority owners, and isn’t good value for others. Expensive on top of all the costs already associated with ownership. Not all owners have an unending source of money. Female, 55-64

I don't consider it value for money. Male, 55-64

Female, 55-64

As a part owner didn't have the opportunity, one of the other part owners was registered as a member. Male, 65-74

It is an extra cost which is a luxury rather than a need. Male, 45-54

Thought it was basically aimed at sole owners.

Relative value in comparison to my investment. If I had my own horse or a partnership without a syndicate manager I would definitely join. Male, 25-34

Not ROAmembers

Q. What has stopped you from becoming an ROA member? Please state

598 responses

Members lapse due to a perception of poor value or change in circumstance.

Not value for money and seems to be an elitist organisation. Male, 55-64

When I came back into racing after a break, membership had become very expensive. Female, 65-74

ROALapsed

Female, 55-64

I had a break in ownership and have only just rejoined a syndicate. Male, 55-64

Unfortunately, it is an added expense to ownership. If prize money was better, I would rejoin. Female, 55-64

I no longer have a horse in training.

The costs outweighed the benefits as I now have a 25% share in my horse.

Q. Why have you stopped being a member of the ROA? Please state

Male, 45-54

178 responses

Members want more free racecourse admission even when they don’t have a runner. Extension of free racecourse admission for syndicate/partnership owners on days when they do not have a runner

38%

20%

Free online access to race planning and fixture information

First choice Second choice

11%

Access to race replays

Equine insurance discounts

Discounts on racecoursecatering

None of the above

ROA members

17%

Q. Which of the below services would you most value from a membership of the ROA?

2,077 responses

78% of new owners say they would have used a new-owner specific set of services from the ROA. 0%

10%

20%

Yes, Definitely

40%

39%

Yes, Probably

39%

No, Probably Not

No, Definitely Not

30%

13%

All I don’t know

All Owners

Q. If the ROA offered an increased package of benefits, designed specifically to guide new owners through their first years of ownership including tailored events and impartial advice on trainers, yards, racedays, costs and more, would you have used it?

New

2,077 responses