For around $100, Canadians can once again become racehorse owners through MyRacehorse, a fractional ownership platform that is launching in Canada in partnership with Woodbine Entertainment. While the opportunity to own a small piece of a Thoroughbred is appealing, Woodbine CEO Michael Copeland believes the program’s real value could be in introducing thousands of new people to the sport.
MyRacehorse was founded by Michael Behrens in 2018, and has attracted more than 100,000 owners internationally by offering small ownership interests in racehorses, along with behind-the-scenes experiences normally reserved for traditional owners.
The concept has already enjoyed considerable success. More than 5,000 fractional owners shared in the excitement of Authentic winning the 2020 Kentucky Derby and Breeders’ Cup Classic, while Seize the Grey carried the MyRacehorse colours to victory in the 2024 Preakness Stakes.
The company’s first offering in Canada is the newly-named Northern Shores, a Canadian-bred two-year-old filly by Charlatan out of Atlantic Voyage. A half-sister to two-time Canadian champion and Woodbine Oaks winner Curlin’s Voyage, she is in training with Canadian Horse Racing Hall of Famer Josie Carroll.
A Canadian Program
Unlike its previous involvement in Canada, MyRacehorse has established a Canadian company and partnered with Equivesto Canada Inc. to offer ownership interests to Canadian residents.
Tyler Peeples of MyRacehorse explained that Duke of Love, the company’s previous Canadian success story, was actually a U.S. offering that included some Canadian customers.
“This go around is a truly Canadian product, a truly Canadian offering,” he said.
Establishing the new structure took several years. Shares are now available to eligible residents in every province except Quebec, which Peeples said is excluded because the company’s website and documentation are not yet available in French.
The plans extend well beyond a single horse. MyRacehorse hopes to introduce approximately three horses during its 2026-27 operating period, followed by another three or four the following year and potentially five or six annually thereafter.
The company has already purchased a second Ontario-bred horse at Keeneland, with an ownership offering being prepared for regulatory review, and hopes to introduce another prospect around the start of Woodbine’s 2027 racing season.
Peeples emphasized that the expansion will depend on demand, but confirmed that the Canadian program will focus on Ontario-bred horses racing at Woodbine.
“We’re committed to making sure these are going to be Ontario-bred horses that we’re running,” he said.
Horses are selected by MyRacehorse’s bloodstock team, led by Joe Moran, which works with trainers and bloodstock agents to identify suitable prospects at sales throughout the year.
What Does $100 Buy?
The initial offering for Northern Shores includes 3,250 shares, representing MyRacehorse’s 65% ownership interest in the filly. A separate partner owns the remaining 35%.
For prospective owners, one of the most appealing aspects of the model is that the purchase price is a one-time payment. There are no additional capital calls or ongoing training bills.
Instead, MyRacehorse uses a prepaid reserve system, allocating part of the initial offering proceeds toward anticipated training, veterinary, travel and other expenses. The offering documentation also outlines the horse’s acquisition cost, bloodstock fees, brokerage fees, organizational and management fees, and the prepaid reserve.
Fractional owners have a financial interest in the horse and may receive distributions from racing earnings, an eventual sale or breeding income. However, purse earnings are not necessarily paid out immediately.
If a horse incurs additional expenses through injury, time off or other circumstances, earnings may instead be used to replenish the reserve account.
For owners, the greater attraction may be the experience. Through an online dashboard, they receive regular training updates, photos and videos, along with opportunities to visit the stable, attend special race-day events and join celebrations in the winner’s circle.
And while the financial returns from such a small ownership interest may be modest, the program offers an opportunity to participate in a sport that traditionally requires a substantial financial commitment.
A Winning Experience
Carroll has already witnessed the enthusiasm fractional ownership can generate.
She trained Duke of Love, an Ontario-bred who finished eighth in the 2022 Queen’s Plate before returning to win the Prince of Wales Stakes at Fort Erie, delivering a Canadian classic victory to his large group of MyRacehorse owners.
“It was something entirely new for me,” Carroll recalled. “It was a really great experience to see all these people that previously had not been involved in racing, getting the opportunity to have horse ownership and be part of the sport.”
She remembers one particularly enthusiastic owner approaching her after Duke of Love’s Prince of Wales victory.
“A gentleman came running up and introduced himself and said, ‘oh, I haven’t been to any of his races yet. I work in Buffalo. My shift just ended and I just jumped in the car and came across the border to watch my horse run.’”
Some of Duke of Love’s owners subsequently made additional small investments in racehorses, while others continue to attend the races simply because their experience introduced them to the sport.
“At the very least, it drew some racing fans.”
The experience extends well beyond race day. Carroll described sending videos of young horses learning to leave the starting gate, followed by footage of their first gate workouts, allowing owners to appreciate the preparation involved in developing a racehorse.
Organized barn visits also allow participants to meet their horses without overwhelming trainers. Carroll recalls one occasion when approximately 40 Duke of Love owners visited her barn.
Growing the Industry
For Woodbine, fractional ownership could help address a longstanding challenge: attracting new participants and encouraging them to become more involved in racing.
Woodbine’s role in the partnership is primarily promotional. MyRacehorse handles the ownership administration, horse selection and racing decisions, while Woodbine will help market the program and facilitate stable visits and special race-day experiences.
Copeland believes the program can help remove some of the intimidation associated with traditional ownership.
“It’s very difficult to get into ownership of a professional sports entity in any respect, so this is an opportunity to become an owner, which I think has a real allure to it.”
Learning about training, expenses, horse selection and the racing business could eventually encourage some participants to move into larger ownership partnerships or purchase horses independently.
Peeples agrees that the educational aspect is a significant benefit.
“My RaceHorse really works as a gateway into broader horse ownership,” he said.
Copeland looks forward to the group having multiple Canadian horses trained by several Woodbine-based trainers, potentially involving thousands of people who otherwise would never have considered owning a racehorse.
“If we can say we’re increasing our horse population, we’re creating more opportunities for our trainers, which is then going to help those that the trainers employ and help support their businesses better. But bringing in a whole new generation of people to the sport – that’s success.”
For now, much will depend on the reception to Northern Shores and the success of MyRacehorse’s planned expansion. But with a dedicated Canadian ownership structure, an Ontario-bred purchasing strategy and Woodbine’s promotional support, the company is positioning itself for a substantial presence in Canadian racing.
And as Carroll’s experience with Duke of Love demonstrates, the real value of fractional ownership isn’t necessarily measured by the size of an investment or even a horse’s success on the racetrack.
Asked what someone purchasing a $100 share is really buying, her answer was simple.
“They’re buying a great experience.”
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