Ownership Opportunities for Punters
Founders and developers of the new horse racing related site, Blood-Ex, hope to revolutionize the horse racing industry. It is a site that will offer the public and loyal racing punters the opportunity to own shares in a racehorse, without the worries of being partially financially responsible for the upkeep and training of a racehorse. And the best place to pre-launch the Blood-Ex site was the Royal Ascot.
During the 2008 Royal Ascot, the Blood-Ex live simulation was available for punters and horse owners to explore. On entering the site, users were given $1000 to purchase shares with and explore the site and its functions at their own pace. Of course the site reset once the Royal Ascot drew to a close and all transactions were deleted from the program, but many racing lovers enjoyed being able to discover the inner workings of Blood-Ex and some look forward to using the site once it goes live later in the year.
The main goal of the site is to bring buyers and sellers together. Owners, who are looking to sell shares in their horse are able to advertise on the site, and buyers are able to make share offers to horse owners. Buying shares in a horse through the Blood-Ex does not make shareholders eligible for a percentage of the horse’s prize money. A seller must sign an agreement that the particular horse will be up for sale in the future, allowing the buyers shares to be paid out to them. Once a horse is sold, shareholders will receive an allocated percentage of the revenue, but the site mostly works in the same way ordinary investments would.
If a buyer, for instance, were to purchase $20 worth of shares in a racehorse, his money could fluctuate according to the horse’s performance. If a horse runs well, the $20 might increase to $22, and if the horse is not having a good day, it might drop a little. Horse owners, however, are prohibited from selling more than forty nine percent of their horse. As the horse gains more value in regard to its racing achievements, investors will see a rise in their investment money. The site will also be able to determine the value of a horse, as opinions and investors show their interest in a particular horse.
Blood-Ex will be monitoring all transactions on the site closely, as they want their site to be an easy and open method of valuating a horse. The creators hope that both buyers and sellers will find the site to be an asset to their investment opportunities and to the horse racing industry. But only time will tell once it goes live, if punters prefer to make quick money and losses at the betting establishments, or if they will go the distance with long term investment.