Thursday, 01 August 2019 13:11

Equine Equity

MyRacehorse, an application that allows the average person to buy horses like stock, has recently gone national wide and is currently available in 43 states, New York included.

Michael Behrens the CEO Experiential Squared and founder of MyRacehorse, said that he was originally intrigued by crowd funding campaigns, where projects can be funded by common people a little at a time, and wondered why no one had done something similar for sports.

It turned out that other people had had the same thought, but that there was a lot of legal restrictions on it. Still, Behrens hired lawyers for the legal side and took on a partner to help build the app.

It launched in California last June, and Behrens said it currently has around 35 horses, with most sold out and about five available with a few new entries every couple of weeks.

Payout works exactly as seems reasonable. If you own 5% of the horse and it wins a race, you get 5% of the winnings.

Behrens said that MyRacehorse rarely buys all of the horse. Instead, they will leave some of it for interested parties like the trainer. That way, the people who know how to train the horse and keep it in top condition have a stake in the winnings.

One example of a horse that MyRacehorse bought a percentage of is Wayne O, who as a yearling sold for $750,000. Wayne O sold on the app for $95 per share, with each share being 0.01% of the horse.

If Wayne O wins a race, everyone with even a single share gets a part of the payout. If they keep their shares, then they get a payout every time Wayne O wins.

Behrens said that he has two long term plans for the app. First, create a system to give people something to do with their shares. Instead of just passively winning occasionally, the shares of a horse that consistently wins increase in value like the stock of a company doing well. Owners can then sell their shares to other people and make a profit on their original investment.

Second, he wants to expand out to other sports, since MyRacehorse works as a platform, but the idea can be expanded into essentially any other sport by following the same general model.

For more information, visit www.myracehorse.com.

Read 962 times

Blotter

  • New York State Police The New York State Police announced that it issued 5,576 tickets during this year’s St. Patrick’s Day enforcement initiative. The campaign began on Friday, March 15, and continued until Sunday, March 17. During the campaign, funded by the Governor’s Traffic Safety Committee, State Police utilized sobriety checkpoints, additional DWI patrols, and underage drinking and sales to minors detail. State Police also ticketed distracted drivers who use handheld electronic devices. State Troopers arrested 132 people for DWI and investigated 199 crashes, which resulted in 25 people being injured and no fatalities. As part of the enforcement, Troopers also…

Property Transactions

  • BALLSTON Heather DiCaprio sold property at 473 Garrett Rd to Justine Levine for $288,000 Sharon Willman sold property at 99 Jenkins Rd to Charles Lemley for $165,000 CORINTH George Montena sold property at 422 Oak St to Stephen James for $142,250 Mark Makler sold property at 313 Oak St to Sabrina Sinagra for $195,000 GREENFIELD Landlord Services of Upstate New York sold property at 1935 NYS Rt 9N to Cochise Properties LLC for $210,000 MALTA  Linda LaBarge sold property at 35 Snowberry Rd to Qu Haozheng for $270,000 Dennis Mitchell sold property at 60 Village Circle North to BGRS Relocation…
  • NYPA
  • Saratoga County Chamber
  • BBB Accredited Business
  • Discover Saratoga
  • Saratoga Springs Downtown Business Association