We are now selling shares in our first draft of racehorses, which you can enquire about through our OWNERSHIP OPPORTUNITIES page. We thought this would be a great opportunity to take you through the basics of racehorse syndication and answer your frequently asked questions.

What is racehorse syndication? 

Racehorse syndication provides a means to experience the thrill of racehorse ownership without the associated expense. Syndicate members each own a share in the horse, splitting costs and prize money according to the size of their share. (Owners who possess a 2.5 per cent share pay 2.5 per cent of costs and receive 2.5 per cent of prize money.)

What are the benefits of owning a share in a racehorse? 

Owners of racehorse shares receive a portion of any prize money earned by their horse throughout its career. And in Australia, there’s a lot of prize money on offer. According to Racing Victoria, the prize money and bonuses pool for the Victorian 2021-2022 racing season totals over $280 million. Owners also get to experience racehorse ownership, which involves the following perks: 

  • Contributing to the naming of your horse;
  • Playing a role in making decisions for your horse; 
  • Opportunities to visit, get to know, and pat your horse;
  • Receiving race day owners’ tickets and accessing applicable owners’ enclosures when your horse is racing; and
  • Receiving invitations to stable open days. (I attended a Wilde Racing stable open day earlier this year and pat so many horses that, by the end of the day, my hands were covered in dirt! It was the best!)

And if you own a share of 5 per cent or greater, you will see your name listed in the racebook when your horse is racing. There may be an opportunity for owners of smaller shares to have their names listed depending on the size and quantity of shares sold.

At Toward Reward, we endeavour to involve our owners in every step of their racehorse’s journey. We send our owners regular updates on the wellbeing, progress, and performance of their horses. Even when nothing changes, we’re in touch to ensure they feel involved in every step of the journey. Our owners also receive invitations to Toward Reward meet-ups and Toward Reward merchandise. 

I want to purchase a share with a group of friends. Is this possible? 

Yes, absolutely. You can each buy a share, or you can purchase a single share as a group.

To purchase a single share as a group, you will need to register your group of friends as a syndicate through the Principal Racing Authority (in our case, Racing Victoria). We are more than happy to help you through the application process.

Buying shares with friends is a fantastic option for those who want to keep the costs of racehorse ownership to a minimum while getting the same thrill out of watching their horse race.

How are your horses selected?

We make our selections based on the expert analysis of our bloodstock agent, Lenny Russo of Bluegrass Bloodstock.

In the weeks and months before a sales day, Lenny spends a lot of time visiting stud farms and reviewing each lot of the sales catalogue. In the days before, he compiles a strict shortlist based on budget, athleticism, and conformation. All of his shortlisted yearlings undergo a veterinary examination to detect any physical abnormalities, structural bone issues, or signs of inflammation or infection.

What will happen to my horse upon its retirement? 

Our priority will always be our horses’ wellbeing and ensuring that they go to happy homes and enjoy their retirement.

Upon retirement, your horse may be sold privately or to stud or gifted. If your racehorse has had a successful racing career and is a filly/mare or remains an entire, there may be exciting breeding opportunities awaiting them.

What are the costs involved with racehorse syndication? 

All costs associated with purchasing a yearling are included in our advertised share pricing and outlined in the relevant Product Disclosure Statement (PDS). These include but may not be limited to breaking-in and education, pre-training and training, vet inspections, insurance, Inglis or Magic Millions race series entries, VOBIS nominations, and Blue Diamond and Golden Slipper nominations.

After purchase, the cost to maintain a racehorse is approximately $40,000-$50,000 per year. This figure may include the cost of spelling, pre-training, training, transport, and trial and race nominations. Syndicate members divide costs amongst themselves according to the share owned, so a 2.5 per cent shareholder can estimate their ongoing costs to average about $100 per month. Additional expenses, like veterinary fees and race entry fees, are harder to estimate.

Each month, our trainers bill our owners directly, with no syndicator markups. We do charge a small monthly management fee. The fee structure is outlined plainly in the relevant PDS and rewards our owners for expanding their portfolio of racehorses with Toward Reward.

Okay, I’m interested. What’s next? 

If you are interested in one of our horses, please call, message, or email us. We can answer all your questions and send you a copy of the relevant PDS for review. 

If you would decide to purchase a share, there are a few forms to complete and return to us. These include:

  • Syndicate Application Form – an acknowledgement that you have read and understood the PDS and Syndicate Deed;
  • Racing Australia Authority To Sign – a document allowing us to register your share of the horse on your behalf; and
  • PayAdvance Direct Debit Request.

And that’s it! It’s that easy!

Do you have more questions about racehorse syndication? We answer more questions on our FAQs page, but you can also contact us for more information. We welcome all enquiries!  



Cynden Adams is the Marketing and Communications Manager at Toward Reward Thoroughbreds. She works with the Toward Reward team to make sure you’re kept up to date on the progress, performance, and wellbeing of your Toward Reward racehorse. She also makes sure our blog and social media pages are kept up-to-date with all the latest Toward Reward news.

TOWARD REWARD THOROUGHBREDS PTY LTD (Authorised Representative No 001292019)

Being an Authorised Representative of Stable Connect Ltd (AFS Licence No. 336964)

Stable Connect is the Promotor and Offeror of all horses managed by Toward Reward Thoroughbreds

Toward Reward Thoroughbreds is proudly an Approved Promoter of Racing Victoria