Triumph For Individual Investors: Over 2,500 Owners Celebrate As Their Horse Wins Preakness Stakes
Racehorse Seize the Grey took the lead at the 2024 Preakness Stakes on Saturday, securing victory at 9 to 1 odds. The gray colt’s impressive win rewarded those who believed in him, with a $2 bet resulting in a payout of $21.60. What made this win even more special was the unique ownership structure behind it.
A total of 2,570 individual investors purchased micro shares of Seize the Grey through the platform myRacehorse. This model of fractional ownership is changing the game, allowing ordinary people to experience the thrill of owning a racehorse. Similar to the ownership structure of the 2023 Kentucky Derby champion Mage, investors in Seize the Grey stand to benefit not just from the thrill of the race, but also from potential profits down the line.
How It Works: myRacehorse offers shares in racehorses to individuals aged 18 and above in qualifying jurisdictions. Investors’ exposure is limited to their initial investment, with no additional fees involved. Beyond financial returns, shareholders can visit the horses in the barn, partake in the winner’s circle celebrations, and receive a portion of the horse’s earnings post-retirement.
The Individual Investor: Historically, horse ownership has been associated with the ultra-wealthy. By offering micro shares in racehorses, companies like myRacehorse are democratizing the sport, allowing everyday investors to participate in the excitement of horse racing.
Shares of Seize the Grey initially sold for $127 each, and following the Preakness Stakes win, they are set to yield $157 per share. Furthermore, owners will also be entitled to future stud fees, potentially adding to their returns.
While investing in racehorses does not guarantee profits, it provides a unique opportunity for individual investors to engage in a traditionally exclusive world. This trend resonates with the growing interest among retail investors in the financial markets, as seen in recent surges of interest in stocks like GameStop and AMC Entertainment.
In a nutshell, the victory of Seize the Grey at the Preakness Stakes is not just a win for the horse and its jockeys but also a triumph for over 2,500 individual investors who can now proudly call themselves part-owners of a Triple Crown event winner.
