Maybe you grew up around horses or you're an avid horse racing fan, but somewhere along the way you decided to find out how to buy a thoroughbred race horse.

For a horse to be declared a "thoroughbred" its lineage must be traced to three original stallions, the Byerley Turk , the Darley Arabian, and the Godolphin Arabian. The horses were imported into England around the beginning of the 18th century. The thoroughbred was initially bred for speed.

Previously the only people who owned thoroughbred horses were wealthy, white haired men with curly pipes, wearing a silk smoking jacket while proudly looking out the window at the soft, manicured lawn of his horse ranch. But these days, it's becoming more and more prevalent that the horses are owned by a number of people who have pooled their money for the care of the horse and the racing fees.

The cost of caring for a thoroughbred horse is approximately $30,000+ a year. It is definitely a hefty investment with no guaranties. Having enough money to spend on a horse isn't feasible to many people who would really love to own a race horse. The yearly cost for the horse is based on everything going well all year. Costs will be effected by where you board your horse, how old the horse is, vets, blacksmiths, food, etc., all of the necessary requirements for the proper care of the horse.

A number of celebrities and music artists have invested in race horse ownership. Some well known owners include M.C. Hammer, Queen Elizabeth, and Steven Spielberg. Jack Klugman, actor and horse enthusiast, owned Jaklin Klugman, the 1980 Horse of the Year and came in 3rd in the Kentucky derby.

Whether you have a curly pipe or not, there are a number of opportunities for you to get involved in the horse racing business as an owner.

Horses of varying ages are acquired for a number of different reasons. Younger horses may be purchased for hopes of monetary gains in racing. Older horses may be purchased for stud service, or for personal use in casual horseback riding, as a show horse, or just to provide a loving home to an aging horse.

The actual purchase of a horse for racing purposes is usually left to a knowledgeable horseman who can recognize racing potential. Trainers and blood stock agents are often consulted before making the purchase. Horses can be purchased either at auctions, in claiming races, or directly from another owner.

Yearlings, (horses that a one-year old), are purchased at auctions or from private owners. In North America horses become a yearling on the first Jan. 1 after its birth. In the southern hemisphere, August 1 is the specified date. Yearlings are often purchased based on their blood line and their potential for racing. The purchasers start training the yearlings, and the horses are often auctioned off the following year as "two year olds in training."

The major auctions held in the United States for two-year olds are Barretts in California, Fasig-Tipton and the Ocala Breeders’ Sales Co. in Florida, and Keeneland in Kentucky.http://www.bloodhorse.com/horse-racing/articles/56841/pinhookers-look-ahead-to-yearling-auctions The auction at Keeneland for two-year olds is usually held in April.

Auctions are held offering horses of all ages for sale, including 3 year olds that would be the proper age to race for the Triple Crown. Purchasing horses at an auction should be left to those who know what to look for. Unless you're very knowledgeable about horses some additional assistance would be advantageous.http://www.keeneland.com/sales/Lists/Sale/allitemsalt.aspx

Another way to acquire a thoroughbred is in claiming races at the race track. A claiming race is one in which all of the horses are offered for sale at approximately the same price. The opportunity to "claim" or purchase a horse in the race is available up to a short time before the beginning of the race. It's at this time that the new owner agrees to the conditions and price for the transaction and ownership is transferred.

When purchasing a horse either at an auction or at a track, the new owner, besides paying for the horse will usually insure the horse immediately. The new owner is also responsible for having transportation to transfer the horse.

In the United States, most states require that a horse's bottom lip be tattooed with an identification number which is registered with the Jockey Club and provides information about the horse, its pedigree, and race history. The Jockey Club has announced recently that the information will now also include a record of the sales and transfer of ownerships of the horses in a move to help prevent thoroughbreds from being sold in lots for slaughter.http://www.examiner.com/x-25445-Pet-Rescue-Examiner~y2010m6d15-Thoroughbred-tattoo-identifications-to-include-more-information

To enter a horse in races, you are required to obtain a racing license for the state(s) in which you want to race your horse. Fees and requirements vary from state to state. The licensing is usually handled by the State Gaming Commission or by a specfic commission for horse racing.

Your horse must be registered with the Jockey Club. The tattoo number is recorded as well as the horse's information regarding sex, name, pedigree, and a physical description.

Unless your horse is racing for an established racing club or stable, you will need to apply for racing silk colors and pattern which will identify your horse at the tracks.

For more information about the Jockey Club and to register your horse online click here.<ref>https://www.registry.jockeyclub.com/

If you would like to be involved with race horse ownership but cannot afford it on your own or you just want to be a silent partner, then you may want to consider joining a partnership or club.

One of the most famous and lucrative partnership was the four people who together purchased Triple Crown winner, Seattle Slew. They purchased the horse originally at Keeneland for $17,500 and by the end of his career had won $1,208,726, and added many millions more as a sire.http://www.seattleslew.com/about_slew.aspx Of course, not every partnership is going to rewarded this handsomely, but you never know.

Information on partnerships is readily available online. A number of racing stables offer people the opportunity to purchase a small percentage of the horse. The return on the investment is calculated then on how many shares of the horse an individual owns. The usual full share is not quite 5%, but half-shares are also available. Naturally before investing with a stable, do research on the stable.

There have also been a number of ingenious ways that people have become share holders of race horses. There have been sweepstakes, contests, and lotteries with the prize being a particular share of the horse and its winnings (if applicable). In 2009 ESPN sponsored a sweepstakes with the prize being a 5% ownership of a thoroughbred race horse of a one year period.

Other clubs have been formed by co-workers or friends and families who pool their money to invest in a horse. None of them have anything to do with any of the horse care or training. They invest their money and someone else does all the work. They are very silent partners.

It's important that you understand that this is a gamble. There is no guarantee that your horse will be a success and continue to cash in for you. The thrill of being a race horse owner and the intensity of the adrenalin rush you'll get when your horse is racing should be worth the money by itself. Add to that purse money. This could be something you would love.