Thoroughbred racing is described as the 'Sport of Kings'. In many ways this is misleading - in Australia at least. While the rich have certainly taken an interest in racing, participation in the sport is not confined to blue bloods or multi-millionaires.

If you want to you can own a racehorse. Owning a horse is much more than watching it race for a few brief minutes every now and then. If you invest in the industry and become part of its lifestyle, one thing should be uppermost in your mind - owning a racehorse is a sport, not a business.

Everyone connected with racing is taking part because they love the sport, the horses and the excitement. Part of the challenge in racing is the very fact that money can't guarantee success. There is a long list of expensive racetrack flops and an even longer one of bargain buys - horses bought for a proverbial song who have returned their owners their purchase price many times over.

There is nothing as thrilling as seeing your horse win, be it a Group 1 event in the city or a maiden handicap in the bush.

Bel Esprit, Regimental Gal and Private Steer were all purchased for less than $18,000, and have giving their owners immeasurable enjoyment as well as considerable financial return.

There is nothing as thrilling as seeing your horse win, be it a Group One event in the city or a maiden handicap in the bush.

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