By: Fred Riecke
MyRacehorse has turned racing upside down. And that’s exactly what founder and CEO Michael Behrens wants to do. Discover the thrill indeed.
“The goal for my business is to bring hundreds of thousands of people into the game by making ownership easy,” says Behrens.
He’s not quite there yet, but don’t bet against him. MyRacehorse.com has made ownership easy for almost everybody. He’s created a platform where fans become owners. How? Micro shares. Think of each horse as a stock. Broken into micro shares enables partial ownership, often for under $100 dollars a share. Of course, that one share might translate to a clump of hairs on the mane, but it is undeniably ownership.
With ownership you receive free Clubhouse or box seats when your horse runs You have the opportunity to tour the backside and see your horse up close and personal. You might find yourself in the MyRacehorse suite at Santa Anita or in the MyRacehorse viewing area on the rail at the finish line. Santa Anita has embraced My Racehorse whose presence there is second only to the ubiquitous Run Happy. My Racehorse is negotiating similar amenities at other major racetracks.
Requiring oversight from the SEC, MyRacehorse has done everything right and dotted all the I’s and crossed all the t’s. For a company that is only about two years old, MyRacehorse has captured the public’s attention in a big way. This is a reflection of Behrens philosophy that “ownership is the simple and beautiful way to bring someone into the sport.”
Behrens knew two things for certain when he started MyRacehorse. The average fan couldn’t afford to be an owner, and if they could, they didn’t want to settle for an average horse. Thus, My Racehorse created a strategic partnership with the iconic Spendthrift Farm and things took off.
“This platform makes owning some of the most well-bred, high valued prospects the game has to offer possible, “ Behrens stated. “ That’s what makes MyRacehorse so unique.”
Lane Way is a current offering from MyRacehorse. The 3 year-old out of Into Mischief and Conderosa is being offered at $90 dollars a share for 0.01 per cent. The colt is trained by Hall of Famer Richard Mandella and comes with a $6,000,000 bonus if he wins a Grade 1. Lane Way was a $550,000 purchase.
Another fascinating offer is for the Filly Four. Here is a group of 2 year-old fillies packed into a team of four, with impeccable breeding at only $180 a share and up to $2,000,000 in bonuses. The four sires are Into Mischief, Pioneer of the Nile, Medaglio D’Oro and the red hot Munnings.
The trainers of the four horses read like a Hall of Fame roster: Bob Baffert, Richard Mandella, Brad Cox and Todd Pletcher The valuation of the quartet is approximately $2,000,000.
MyRacehorse has shown an uncanny ability to attract top quality horses. In 2019 they had a Grade 1 winner in Street Band; a horse in the Kentucky Oaks; and two horses in the Breeder’s Cup. This year they will have a starter in the UAE Derby. Tizamagician is the colt and he has about 250 owners. That would make for a crowded winner’s circle if he were to race locally. Sold for $320 a share, the Tiznow colt will reward shareholders a little more than $1000 per share if he wins the UAE Derby. There are other partnerships that offer top quality horses with shares going from $5,000 to $250,000 each. They also normally come with quarterly payments for training and related expenses. MyRacehorse has a one-time only charge per share, yet another reason for its popularity. Their website provides updates to the owners daily. Many of their horses have Facebook pages where fans share information, pictures and hopes for the future. Many purchase just one share, yet enjoy the excitement of actually owning a racehorse. Judging by the current rate of growth, the hundreds of thousands of people Behrens hopes to bring to racing just might happen sooner rather than later.