Frequently Asked Questions

Are there risks associated with Thoroughbred Ownership?
Yes.  Thoroughbred horse racing is a risky venture.  Approximately 60% of the horses born every year reach the track.  About 45% of the horses born every year are winners.  8% are stakes winners, .07% are Graded Stakes winners and .01% (or 1 in every 1,000) are Grade 1 Stakes winners.  While these are long odds, we would like to point out that they are much better odds than – say – The Lottery!   

Are there tax advantages to Thoroughbred Ownership?
Yes.  Recent changes to the tax code have greatly increased the tax benefit to Thoroughbred owners.  Consult your tax advisor for more details.

Is the Thoroughbred Insured?
Pocket Aces does not carry mortality insurance on the Thoroughbred.  Members may choose to acquire mortality insurance for their respective ownership interest.

If I choose to, how do I insure my interest in the horse for mortality?
Management recommends that Members wishing to insure their interest contact Lexington based agent Rory Calis.  His number is (859) 396-9574 and he will be happy to assist you.

How are purses (see thoroughbred definitions) distributed?
All purses are initially held to cover future expenses.  At the end of each year, if cash assets in the partnership exceed the expected expenses for the coming year, the surplus is distributed according to each member’s ownership.  Purse money may also be distributed at the discretion of the managers.

Why do you charge a management fee?
Unlike many of our competitors, we do not mark up the cost of the Thoroughbreds we syndicate, nor do we retain a share of ownership in the Thoroughbred.   Therefore, we charge what we believe to be a fair and equitable rate for our expertise and services.

Why did you start Pocket Aces Racing?
We created our first partnership in 2005 by bringing together several of our friends and acquaintances to purchase a filly by Victory Gallop at the Keeneland Yearling sale.  We were surprised at the enthusiastic reaction our idea received and decided to create similar opportunities for other Thoroughbred racing enthusiasts. 

Is there any preference to the type of horse we will purchase?
Yes.  Based on pedigree and physical type, we prefer early to mature, sprint types.  They provide quicker action and cost much less in expenses to get to the track. 

Why is the partnership set up as Limited Liability Company?
A Limited Liability Company limits its members from liability.  Only the assets of the company are subject to liability should a situation arise.

How are the Members kept informed about the Thoroughbred?
Pocket Aces Racing LLC makes communications with the Members a top priority.  Members will receive monthly financial reports and monthly updates on the condition of the Thoroughbred via email.  The managers will periodically send pictures and videos of the Thoroughbred as well.  Should anything “out of the ordinary” occur, the members would be notified immediately.  In addition, members are more than welcome to schedule appointments to see the Thoroughbred at the farm, training center, or track.

How often does the Thoroughbred race?
It is not possible to say with 100% accuracy how often a horse might race in any one year or over the course of its career.  However, it is hoped that each Thoroughbred will begin its racing career by late summer of its two-year old year. As a three-year old, four-year old, and five-year old it is possible for a horse to run 8-10 times in a year.

How are partnerships concluded?
Partnerships are concluded at the conclusion of the Thoroughbred’s racing career or upon the sale or claiming (see thoroughbred definitions, “claiming race”) of the Thoroughbred.  All outstanding debits will be paid, and the cash assets will be divided according to each member’s ownership interest.

Do members have input into the racing campaign of the Thoroughbred?
Yes and No.  Members are always welcome to share their input, and the managers will take such input into consideration.  However, the ultimate decisions regarding the racing career are up to the managers.

Do members have any input into decisions about the Thoroughbred?
Yes.  Members will vote on any extraordinary capital expenditures.

Where does Pocket Aces race their horses?
Generally, we will race our horse(s) at Charles Town Races and Slots located in Charles Town, West Virginia.  We have targeted Charles Town because of its status as a "racino".  This term is used for racetracks that have a casino attached and the revenue form the casino supplements racing purses.  This enables Charles Town to have one of the highest purse distributions in North America.  However, unlike most of the tracks with higher distributions (Keeneland, Saratoga, etc.) the competition at Charles Town is considerably easier.  In addition, Charles Town races practically year round, which affords many more opportunities to run.  

Who will train the horse(s)?
Our trainer at Charles Town is Jeff Runco.  He has been training horses at Charles Town for over 20 years and has started over 11,000 horses there and won over 2,200 races.  In addition, Jeff has earnings of over $16,000,000 during that period and is perennially one of the track's leading trainers.