Horse racing has long been dubbed the “sport of kings,” attracting enthusiasts, gamblers, and investors worldwide. Historically, the sport’s ownership model limited participation to wealthy individuals or well-connected insiders, leaving the rest to watch on from the sidelines. The rise of syndicates proved to be a game-changer in this respect, and they have established themselves in the sport.
These syndicates have long run on traditional fiat currencies and administration systems, but could there be a new player in town? Blockchain technology has the potential to inject new life and a new audience into an age-old sport. Adoption of such technology into the syndicate area has so far failed to really take off, but there are some exciting plans in the pipeline.
What Are Racehorse Syndicates?
Before diving into the blockchain connection, it’s important to understand racehorse syndicates themselves. A racehorse syndicate is essentially a group ownership structure where multiple individuals collectively own shares (or even just one share) in one racehorse or multiple racehorses. Each member buys a proportion of the horse, contributing to its purchase price, training costs, and upkeep. In return, syndicate members share in any winnings and get the pride and excitement of watching “their” horse compete.
Traditionally, syndicates have been the gateway for everyday enthusiasts to enter the exclusive world of racehorse ownership without shouldering the enormous costs alone. These groups also spread risk, since racing is inherently unpredictable and horses can pick up significant injuries at any time. They also often work on a short-term basis, with individuals buying a share that will last a year or two, rather than being a career-long commitment.
This traditional syndicate model, in which individuals pay a one-off fee for each share (often starting from around £40 to £100 per share) has proven popular, but they are not without some limitations. The biggest one is that it is not normally possible to trade/share ownership shares, making them a not particularly liquid asset. Buyers are just stuck with them until the term runs out. Some schemes also come with quite high administrative costs, which lower the chances of turning a profit through ownership.
The Promise and Challenge of Blockchain in Horse Racing Syndicates
Blockchain technology’s defining features, namely decentralisation, immutability, and smart contracts, make it a suitable candidate to modernise racehorse syndicates. By tokenising ownership stakes as NFTs or fractionalised digital assets, platforms could:
- Enable secure, transparent ownership records that are easily verifiable and resistant to fraud
- Create liquid markets where owners can buy, sell, or trade shares quickly and globally
- Automate distribution of prize money and dividends through smart contracts, reducing administrative overhead
Despite these advantages, blockchain-based racehorse syndicates have struggled to gain much traction. Early movers like BTX Racing, which targeted Australian investors, generated interest but ultimately went dormant by 2023. Similarly, the Crypto Racing Club, who were partly behind the world’s first crypto-owned horse, Metarace, are also no longer active.
There are other examples of failed or paused ventures in this area, but the idea refuses to die. Newer projects such as Maxima and the Tokinvest and Evolution Stables partnership may be able to revive blockchain syndication within horse racing. Such sites may well appeal to crypto slots players who want to have a flutter on something that they can be more engaged with.
Future Plans
Maxima, a blockchain-based horse racing syndicate platform, is targeting a launch in late 2026. They are developing the world’s first blockchain-based racehorse ownership exchange, enabling users to buy, sell, and trade shares in real racehorses through NFTs. Their platform offers fractional ownership via ERC-721 and ERC-1155 tokens, backed by physical horses and recorded on the blockchain for transparency.
More immediately promising is the collaboration between Tokinvest and Evolution Stables, which plans to launch in the summer of 2025 under regulation by Dubai’s Virtual Asset Regulatory Authority (VARA). This partnership emphasises tokenised ownership of proven horses, but ones still early in their careers. In doing so, this would avoid the unpredictability that comes with yearling purchases. Token holders receive a fixed-term lease (usually 12 months) and a share of any prize money won. The VARA-regulated framework should give investors some level of protection, addressing one of the biggest hurdles in blockchain asset platforms: regulatory compliance.
Could Industry Giants Eye Blockchain Possibilities?
Most established players in the fractional racehorse ownership seem to be content sticking with their usual approach but there could be exceptions in future. MyRacehorse, a leading syndication platform with a large community of over 50,000 owners, currently operates without blockchain but has publicly hinted at the potential of integrating such technology. Although they have not announced concrete plans, MyRacehorse recognises that blockchain “would bring newfound liquidity to a previously highly illiquid industry.”
Conclusion
There does seem to be some potential for blockchain technology to move into the popular horseracing syndicate space. Some may simply view it as another form of crypto gambling, as people do hope to make money through syndicates, but it’s a much richer experience. Being able to cheer on a horse you own (a part of) makes the sport more entertaining and victories would be all the sweeter.
Given that it is a popular concept already, it does seem that blockchain technology could find its place in this arena. Some previous attempts have failed, but in some cases, they have been badly managed or had limited scope. Some of the future projects, highlighted in this article, may well appeal to investors and sustain themselves. It is very hard to see most syndicates moving over to the blockchain, but there might be enough interest for a few ventures to survive with a small but committed following.