Racehorse ownership course at Hofstra UniversityJune 13, 2008,
by Debbi Honorof, director of marketing & communications, CCEPA Hofstra University
Hempstead, NY — The Center for Continuing Education at Hofstra University in Hempstead, New York offers a two-day course on “Racehorse Ownership for the Small Investor” on Saturday, June 21, from 9:30 a.m. to 4:30 p.m. at Hofstra and Sunday, June 22, from 7:30 a.m. to 1:30 p.m. at Belmont Park. The cost of the course is $225. To register or for more information, visit www.ccepa.hofstra.edu or call (516) 463-7800.
This course is taught by attorney Chris Wittstruck, who examines in detail the benefits and risks of racehorse ownership as an alternative investment vehicle. New York State is now able to install video lottery terminals (slots) at racetracks, ensuring a much enhanced purse structure for owners, so the timing couldn’t be better. Racing syndicates (partnerships) for the small investor are being formed at a rapid pace. Topics will include forms of ownership, licensing, acquisition of horses, hiring of professionals, insurance, tax issues, training expenses and related areas. A stake in a racehorse costs much less than generally thought; sometimes as little as $1,000.
Chris Wittstruck is a Long Island-based attorney, a licensed Thoroughbred owner in New York State and a Standardbred owner licensed by the harness racing commissions in New Jersey, Pennsylvania and Maryland. He is a member of the United States Trotting Association, the Standardbred Owners Association of New York and the United States Harness Writers Association.