I've been in the horse business as a owner, breeder, buyer/seller, for most of my adult life. I have been a fan and a gambler for even longer than that. So, first I would like to clarify a few things -- most owners are not millionaires or billionaires. Most? What are you saying here -- 51%? 75%? If you truly believe this than you are either completely and totally misinformed, very naive and judgemental, or just looking to lay blame.
Second, yes -- most owners do in fact lose money, and for the most part it is their own fault. I have made a profit every year I have been in this game. However, unlike many, I treat it, approach it, and run it like a business -- period. If I wasn't making money, I love this sport and business so much and have such a passion for them, then I would own a horse or two. However, I see opportunity. I race and place my horses very aggressively. There are others, many smaller and many bigger than me who do the same. I see plenty of owners lose money -- bad trainer, bad situation, bad advice, incompetence, and so many other reasons.
If 90% of the owners are losing money then the market and economics dictate that you must exist in the other 10%. If 90% are losing money, then there is a tremendous opportunity for the other 10%. When I draw into an 8 horse field -- I usually have half the field beat before the draw; because half the field is improperly placed. It's because most people don't play the game correctly that they lose money -- and a small % do make money.
Now, about owners doing what they want, retiring horses early, etc. -- here is the fact . . . you don't like it, tough luck. Pack up your marbles and go home. Now listen, sure, I am dissappointed that Bernardini is being retired. Henny Hughes as well. But that is life. I never hold anything against an owner for doing what they want to do. I am a huge fan. I am just not wired that way. It's their horse and that's it. Now to talk about how the gamblers fuel this business -- yes, we all know it's true. However, it is foolish to believe that gamblers across the world are going to unite and boycott racing. It's a circular arguement that goes nowhere. The other side of the coin is that if there were less, or no owners, there would be less horses, less tracks, and so on, and then there would be nothing to wager on. This arguement is right next to "my dad can beat up your dad".
It's easy to be on the sidelines or in the stands and critisize what the players do. Just remember, all you have to do is just pack up and go home.
Eric
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