If you had £15 a week to spare, what would you spend it on? With the new race season at York almost upon us, STEVE CARROLL considers something a little bit different

IT'S burning a hole in your pocket. There are just so many ways of frittering away £15 every week.

You can sink a few beers down the boozer, watch a flick at the cinema or buy that chart-topping CD that took your fancy.

Or you could do something a bit different. You could buy a race horse.

Only a few years ago, buying a horse was a pipe-dream for anyone without a champagne lifestyle and a country estate.

Now anyone can have a go, and it can cost as little as £15 a week. It's all thanks to syndicates, which have transformed horse racing as a participation sport.

What it means is you don't just have to back a nag during a day out at York, you can also share in the joy of owning a thoroughbred yourself.

How do syndicates work? Basically, much like those of us who team up to play the lottery every week, it's a group of people who club together to buy an animal. You can team up with your mates, or buy a share on your own.

Most syndicates are made up of 20 shares giving each part-owner a five per cent stake in the horse.

The monthly cost, which starts at about £60, covers race fees, trainer's fees and everything else that gets an animal ready for race-day. At the end of the season, any cash left in the pot, from winnings if you're lucky, is shared out between the 20 owners in a dividend.

A partnership manager takes care of all the fuss, all part-owners have to do is pay their money and roar on their acquisition on race-day.

Syndicates should be no stranger to some Evening Press readers who joined forces to lease a two-year-old filly named after the newspaper. Although Press's track career was hardly anything to write home about, some shareholders certainly caught the owner's bug and have started their own schemes this year.

Paul Clarkson, who managed the Evening Press syndicate, runs a number of partnerships across the North of England.

His latest acquisition, seven-year-old colt Bergamo, recently won at the all-weather track at Southwell. He cost £7,000 and has already won prize money of £5,500 for his delighted owners.

Paul said syndicates gave people a low-cost opportunity to get involved in the drama of the Sport Of Kings. But he warned people interested not to see their racing out-goings as an investment, else they could be very disappointed.

"Owning a horse gives people who enjoy racing the chance to have an even greater involvement in the sport," he said.

"You get to go to the races and you get to share any prize money at the end of a season. When you are a winner, all those long months are instantly forgotten.

"But it is vital to recognise from the start that maybe only one in eight horses ever wins a race.

"It can be one of the biggest thrills and is very exciting, with a little bit of success, but if the horse isn't winning people can become disillusioned.

"Put it in perspective. It's £60 a month which is quite a low cost. Be aware of the risks and don't be afraid to lose the money. If it's too much to lose, don't get involved."

Syndicates have revolutionised the way horse racing views itself as a sport. The top hats and Bollinger may still remain but, these days, everyone can be in the winner's enclosure.

Useful numbers

Paul Clarkson Racing Syndicates 01995 605790. Mobile 07802 764094.

Kate Milligan - MKM Racing - 01969 623221. Mobile 07721 529857

MIDDLEHAM trainer Kate Milligan gives her top tips for joining a horse racing syndicate:

1. GO AND HAVE A LOOK

You wouldn't buy a car without seeing it up close.

2. VERSATILITY IS THE KEY

You want a dual purpose horse. One that can run all season long on the flat and over hurdles. You want something that can run straight away so look for three, four and five-year-olds.

3. DON'T TREAT IT AS AN INVESTMENT

People often expect too much. Be realistic. Don't set your sights too high. You can't expect to win and, for £60 a month, you won't be getting the next Istabraq.

4. GIVE IT A CHANCE

A horse needs at least half-a-dozen runs to build up a true picture of form.

5. BUT DON'T BE AFRAID TO QUIT

If the horse doesn't perform and there's no reason why it's running badly - get rid. You can always look at something else.

6. DON'T STRETCH YOUR

BUDGET

£60 a month is a good figure to start with. It is not too much money but you must be able, and prepared, to live without it.

7. ENJOY IT!

Go to the races as an owner. That's what it is all about. You have to enjoy it and revel in the day out.

Updated: 08:50 Thursday, March 13, 2003