BREAKING into the horse racing game may be just the right medicine for investors seeking more thrills than offered in stock, bond and land investments, and it could become easier than before.
Traditionally, securing rights to race a new horse in Hong Kong has been no easy task. All control lies in the hands of the territory's race governing body, the Hong Kong Jockey Club.
Anyone wishing to run a horse in the lucrative racing scene must first be a member of the club and then be lucky enough to qualify for ownership through the club's annual spring election which limits new entries to 300 horses.
This year over 2,000 parties vied for the limited number of permits.
Horse owners throughout the territory agree it is not that the venerable old club does not doll out slots fairly, it is simply a matter of there being too much racing interest in the region. Hong Kong's massive racing stakes overshadow those offered in other major racing continents, Europe, Australia and North America, attracting millions each week in investment and gambling.
Costs can also be prohibitive, as Hong Kong lacks any thoroughbred breeding facilities. Space and weather restrictions preclude that activity, forcing all horses raced at the club's Happy Valley and Sha Tin courses to be imported, raising costs along the way.