ASKS THE CENTAURIAN
Every time we buy a lottery ticket or have a punt on a horse, or forecast who might score first for Liverpool, we are assessing the odds – that is gambling. Buying a share in a racehorse is pretty much the same – but in the case of ZimFun Racing Club Ltd it’s a bit more than a just a gamble.
The total losses or costs are clearly defined for each shareholder – at US$100 for a full year’s involvement – amounts to just $2 per week. There are no more calls for cash for 12 months.
In return the upsides fall into four categories. Firstly are the purses which might be won at Borrowdale Park and returned to the company coffers. Then there is the information, inside track – provided by the ZimFun WhatsApp social media group – you will get to know better than anyone outside the group just what the chances are for each of our horses and thus help you make up your mind if you want a bet and if so how much.
Thirdly, if we do end up with an above average performer, we retain the right to sell it and again return profits to the company account. Finally, and as important as anything else, there is the FUN – of participating in the whole Sport of Kings – going to the racecourse if you can, fun in the parade ring, shouting from the balcony as the races are run and with a bit of luck, leading a winner in with old mates and the new ones you have yet to make. Priceless.
We have estimated that the total cost of keeping a horse in training, paying for the incidentals, jockeys, airfares as necessary, vets and farrier run to about $6,000 per annum – these are our variable costs and exclude the cost of procurement and transport north to Zim.
To get that back we need to win a few races and get a few places in ordinary races each year. Your guess is as good as mine as to the likelihood of that happening but in Zim, where horse numbers are low and we might have say 120 to 150 races to pop at, the chances are actually above average. Of course winning a feature race like the Tankard or the Ok or the Republic Cup improves the economics significantly – but don’t hold your breath too hard – though it’s not out of the question by any means.
My guess is that each horse will be ready to run when it arrives and so the ZimFun can begin from the first day’s racing.
All it needs is for the other 1470 of my 1500 readers of this column to get their hands in their pockets as the first 30 have done – and send $100 cash to Virgin Management Service at 7 Normandy Road, Alex Park in Harare or send a sincere e mail pledge to email@example.com – and ideally, do it now
News on colours next…..
Also I should have some payment options for RSA investors too – shortly….