anyone ever had a race horse or been in a synd, page-17

You really need to have goals and a budget as a starting point. The syndicates with 1500 shares are more commonly known as "Racing Clubs". Usually only an upfront cost that factors in all anticipated training fees. Chances of getting a return are minimal and as others have mentioned their are restrictions on race day privlidges.

Hancox has many ultra cheap syndicates and a "free replacement" policy for duds. But her record says you will likely get an average country performer. Dont expect city class.

So if it is purely for a social experience then you could consider the cheapies and enjoy attending a few country race days.

If attending race days is the main goal, then choose a trainer in your state/city. Horses do travel interstate, but most your races will hopefully local.

Internet is your friend. All major auctions are listed online. Do your research especially with unknown syndicators. You know what the syndication price is, so find out what the purchase price was. Some mark up for promotional expenses is reasonable. And obviously for fees incurred up until syndication. But often you see a $10k yearling syndicated for $30k a week after being sold. That is poor value. They base it on a "independent" valuation that THEY organised.

Do you have the patience to buy a yearling and wait up to 12months of fees before ever seeing a race? Or do you want a ready to race horse?

It actually helped me to reduce my gambling (and losses). I was able to bet mainly on my horses and virtually not bet when I didnt have a runner. But for some people it might go the other way and make them lose more. Worth considering.

Tax was never an issue. Frommemory the threshold was $50k which is virtually impossible even from a 10% share. And if you did win more then paying tax is not an issue.

But I firmly beleive that spring carnival is over hyped and a promoters dream. I'd personally buy in a few months. Around March you are often getting first crack at yearlings not just the left overs. And the price isn't inflated.

Good luck and enjoy the experience.