As exciting as these events are for spectators, they may be even more so for horse owners. Investing in a race or show horse is much like riding one – thrilling, satisfying, and challenging. When it comes to horse ownership, there are two key rules to remember:

1. Don’t expect to make money; and
2. Do expect to have fun.

Although there’s no question that owning a racehorse can be profitable if purses and breeding fees come through, it would be unwise to count on it as a source of significant income. By some estimates only 10 percent of owners make money. One owner with more than three decades in the business won more than $1 million in purses in a recent year and still lost money. His veterinary bill alone, for about a dozen horses, reaches $35,000 a month. There are also trainers to pay and charges for transportation to the track. Viewed positively, this can mean only one thing: Owning competition horses has to be fun. Otherwise, why would so many people do it?

There are generally two ways to invest in a horse: partial ownership through a syndicate, or outright ownership. Those interested in breeding usually buy a stake in a stallion syndicate. Certainly, fractional ownership, which can be as informal as a couple of golf buddies getting together, spreads risk, but can come with the added expense of having to pay someone to oversee operations.

How much do horses cost? Prices vary from thousands to millions, depending on bloodlines. Either way, you must exercise the same due diligence you would when making any large investment. Never take anything at face value. If you are thinking of joining a partnership, carefully review the partnership’s operating guidelines. Make sure you know your business partners. How successful have they been? What are their reputations? Have they been forthright with others about horses in the past? Make sure you have an objective, experienced veterinarian thoroughly examine any animal you consider purchasing. And remember: genetics is important when choosing a horse, but there’s no guarantee that breeding two great horses will produce a Derby winner.

No matter where your interest lies, start small. That way you’ll begin to understand the costs associated with ownership as well as the benefits it provides – such as entrée to the private clubs, for example. As we all know, sometimes the actual horse race or show takes a back seat to the parties and the high-octane atmosphere surrounding the event itself.

Don’t expect horse ownership to be easy. But do embrace the excitement. After all, that is probably the biggest payoff. If you thought watching a horse race or show was great, wait until you are watching as an owner.

A 4-year-old son of Pentelicus, Mach Ride suffered a foot abcess shortly after his fourth-place Vosburgh Handicap (gr. I) finish Sept. 20 at Belmont Park, an effort in which the colt had trouble getting out of the starting gate.

The irritation did not heal as quickly as the connections thought it would.

“His foot is still a little too tender to work him as scheduled on Sunday, and he had to work if he was going to run in the Sprint,” Standridge told Daily Racing Form. “He’ll be fine in a week or two, but it’s not worth trying to push it and taking a chance of hurting this horse, even if it is the Breeders’ Cup.”

Out of Formal Dinner mare April Invitation, Mach Ride has won six of 15 career starts, including the Smile Sprint Handicap (gr. I) July 7 at Calder Race Course.

The homebred colt would have been the first Breeders’ Cup starter for George and Karen Rustle, whose farm is in Reddick, Fla.

The track at Churchill Downs is the site of the annual Kentucky Derby horserace in Louisville, Kentucky. Louisville is the largest city in Kentucky, with about 700,000 people in its metropolitan area in Kentucky, and another 500,000 in neighboring Indiana. Louisville is on the Ohio River, by the Falls of the Ohio. The Falls continue to be the location of a hydroelectric plant. Historically, a canal was built around these falls. The McAlpine locks around the Falls are still used, but are undergoing a major rehabilitation. Louisville continues to be a transportation hub, with its airport used as a hub by the UPS delivery service.

Another major industry in the Louisville area is the brewing of whiskey. The Brown-Foreman Company is the brewer of Jack-Daniels, and also produced Southern Comfort and Early Times Kentucky Whiskey. The company employs about 1,300 workers in Louisville. Also partly in the Louisville area is the famous Fort Knox, the home of U.S. Gold reserves. Recently, in 2006, Kentucky removed its taxes on bonds, notes, trusts and other intangible personal property.

The second largest city is Lexington, with over 260,000 people, and also the home of the University of Kentucky, in Eastern Kentucky. There are three public universities, and five private colleges in the city. The surrounding Bluegrass Region is home to Kentucky’s famous horse breeding farms, but there is manufacturing in Lexington as well. Leading companies in the area include Affiliated Computer Services (ACS), Lexmark International, and United Parcel Service. ACS is an information technology and outsourcing company. Lexmark is a leading manufacturer of printers used with personal computers and has a plant and its headquarters in the city. Toyota’s auto manufacturing plant is nearby in Georgetown, Kentucky. Bowling Green, a city of 56,000 in central-western Kentucky is the home of a GM auto-manufacturing plant, and also of Western Kentucky University.

Mammoth Cave National Park is a U.S. National Park in central Kentucky, which is the home of the famous Mammoth Cave, part of the longest cave system in the world. The park is quite large at 52,000 acres in Edmonson County, centered on the Green River. Lake Cumberland, in South-east Kentucky has marinas on its shores, and many water-sports can be enjoyed here, from waterskiing to fishing. Lake Cumberland Resort Park has a wide variety of places to stay at the lake, which despite a dry season, still covers over 35,000 acres. The lake is known for its fish, including various types of bass, including largemouth and smallmouth. Also available to enjoy are horseback riding and hiking trails. In general, Kentucky is known for its large number of bodies of water and navigable rivers. Or try some of the horse farms in the Bluegrass Region. Claiborne Horse Farm in Paris, Kentucky has horse riding and tours, and the headstone of Secretariat, the 1973 Triple Crown Winner, and one of the greatest horses ever.