Quote:
Originally Posted by Merlinsky
Seeing so many comments on articles about this acting like folks are getting scammed and hating on MyRacehorse. Sorry, I just don't see the problem. As one guy said, he was on his couch winning the Derby with Authentic and having a great time.
'But people are gonna buy in and not see a dime profit!' - well isn't that most racehorses? If you know the deal going in, what's wrong with that? Isn't it for entertainment? If you're not entertained by owning a microshare of a racehorse, don't put money down. Nobody's robbing anybody. They're not chumps if they walk in eyes open and get what they pay for (a good time). Putting $50 into something you don't expect to get a return on is up to you and happens all the time.
Do they at least send you a certificate or something you can frame?
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Come on. Rich people are duping poor people into crowdfunding their racehorses. Of course owners lose money on horses all the time. But if those MRH people who bought in on Authentic (a Kentucky Derby and Breeders Cup Classic winner), don’t see any profit, then I don’t see how anyone justifies it. I guess that remains to be seen after he hits the breeding shed. But it looks like the model is built so that the MRH owner can never actually see a profit, which isn’t the case when you actually purchase an individual racehorse.