The ponies are a labor of love with small stakes, high costs
(NEWSER) - Thoroughbred racehorses aren’t cheap to buy—and then you have to house them, feed them, pay the vet, the trainer, the jockey, etc. And if you actually intend to make money, they have to win. And even then, since most horses never make the elite high-stakes races, owners have to be content with small purses. Fitting, then, that one owner got into the game after his accountant suggested he “get a hobby that loses money” as a tax shelter. More»