JustBookies Racing Club - How It Works

The Syndicate Rules: Terms & Conditions
Each syndicate will comprise one horse and four equal shares.

One owner can purchase a maximum of three shares per racehorse. That is because JustBookies.com Limited (trading as JustBookies Racing Club) will always retain a minimum of one quarter share in each horse, so be assured we want the venture to be as successful as you.

Each syndicate will run to the end of the first racing season (ie: to December 31, 2010) and then continue annually, decided by vote.

There will be one initial payment of £7,500 per share (actual figure will be dependent on yearling's purchase price). This will include an apportionment for purchase price and an apportionment for training costs to the end of the first year. The payment made will cover all costs, including:
- purchase of the racehorse
- training fees
- farrier fees
- vet fees
- jockey fees
- race entry fees
- transport costs
- all other applicable fees

Unlike many other syndicates, any money that remains unspent will be returned to shareholders annually. So if the one-off payments are in excess of expenditure these funds will return to shareholders + prizemoney won + the ultimate sale proceeds.

Each syndicate will operate using its own specific, ring-fenced bank account.

At the end of each year a decision will be made by vote (one vote per share) if the horse is kept in training for the following year. If this results in a tie, then JustBookies Racing Club will have the final say. If the horse does not go back into training, the horse will be sold at public auction and the sale proceeds added to existing shareholder funds and all monies redistributed to the shareholders.
If the horse is kept in training for additional years then there will be a further payment on January 1 of each year of £5,000 per share to cover the following year's training expenses. The actual sum requested from shareholders may be less than this figure, or even nothing, dependent on the balance of the syndicate bank account. If the horse has been successful in the previous year then it is possible enough funds will have accrued and that no fee is due. Any funds that remain in excess of the £5000 allocation per share for training fees in 'year two', will be repaid to owners at this time.
There will be total financial transparency. Accounts will be provided to each owner annually, no later than January 31, to cover the previous year. Monies due to shareholders will also be paid at that time.

If the horse is sold out of a selling or claiming race then the partnership will end that day. After the final expenses have been paid, all remaining funds, including the proceeds of sale, will be distributed to owners without delay.
An owner may sell their share at any time and it is their responsibility to do so. The new owner will inherit the benefit of any positive funds balance that is held in the syndicate bank account. Dividends will be paid only to the owners of shares held as at December 31 of each year.

If any owner fails to make the required annual one-off payments within 30 days of the invoice date, the share will pass to JustBookies.com Limited (t/a JustBookies Racing Club) at no cost.
The horse(s) will run in the name of JustBookies.com and will be named by JustBookies.com Limited (t/a JustBookies Racing Club).
Management Fees: Because JustBookies Racing Club names the horses specifically to market and promote their websites (such as Bookies), traditional management fees do not apply. The only fee JustBookies Racing Club will take for the management of the syndicate is 10% of the ultimate gross sale price of each racehorse and only if that gross sale price is greater than the original gross purchase price. There are no other management fees and no other funds will ever be retained by JustBookies Racing Club. All excess funds will always be returned to the owners.

It is important to note that this is not a 'collective investment scheme'. Any prizemoney earned or profits realised on the sale of a horse is incidental to the primary aim, that being fun and enjoyment, of the partners who join JustBookies Racing Club.

If you would like to purchase a share please contact JustBookies Racing Club