SBC News Voice of the Sports Betting Industry
Stride, a new horse racing platform centred around flat racing syndication, launched this week as a communications centre for key sporting stakeholders.
The challenger platform has set an objective of becoming ‘the premier racing communications’ destination for racehorse owners and followers of the sport.
In pursuit of this, Stride has established a network for use by owners, trainers, stable support staff, jockeys and racecourses, to follow the ‘experience of owning a thoroughbred’ from purchase to the racetrack.
Johne Murphy, Stride CEO, commented: “Stride is more than a responsive platform for buying and selling shares in elite-level racehorses. It’s also a way for racing to reconnect, engage and retain its most vital stakeholders: passionate owners who support the sport through times good and bad.
“Our fractional ownership model readily articulates the merits over micro-ownership and its associated cautionary tales and also enables our members to choose a portfolio of racehorses that elevates enjoyment and mitigates downside at a challenging economic time across most sectors.
“Investors can now research, buy, manage and watch their stable of syndicated thoroughbreds at a fraction of traditional ownership spends, with zero hidden costs or clawbacks. The price you pay for your share in the syndicate is the sole fee you’ll ever be asked for.”
Murphy, a former Munster and Leicester rugby union player and experienced syndicate participant – having founded syndicates in both rugby and racing/thoroughbred racing – will lead a team consisting of sports, racing, betting and fan engagement professionals.
This includes Cillian Barry and Eugene Cosgrove, founders of free-to-play games SportCaller – a partner of a range of betting firms including the likes of Coingaming – who will take on the rules of Chairman and Head of Product respectively.
Meanwhile, Donal Browne will work as Chief Operating Officer and Joseph O’Brien, a successful horse racing trainer based in County Kilkenny, Ireland, will be responsible for coaching the platform’s racehorses.
Barry remarked: “Having seen what Johne and Joseph achieved with their first round of syndicates, it’s a thrill to combine their passion and equine acumen for Stride with our own technical know-how around proprietary technology platforms and improved engagement.
“Eugene and I are already enjoying getting back to our shared first love of racing – remember, SportCaller was initially named RaceCaller. Stride’s next-generation informational and experiential platform already includes an array of management, administration and engagement features whose quality and variety set it apart from its rivals who have to date benefitted from a niche sector which has been slow to adopt transformative technology and the latest techniques in social engagement.
“We naturally aim to build on that over the coming 12 months, fostering a best-in-breed intuitive digital hub, whose array of audiovisual, editorial and data outputs will take members closer to the action than ever before. Whether your horse is fighting out a high-octane finish at the track or enjoying a well-deserved roll in the hay with the stable cat, we’ll capture and communicate it all.”
Stride will follow an operating model of purchasing unreached yearlings and two-year-old horses for between €25,000 and €150,000 to facilitate multiple runners, racecourse engagements and allow syndicate members several selling points over the year.
Shares will ‘typically’ be sold in syndicates of between two and six horses, with the intention to sell within 12 months of purchase and subsequently return profits to owners.
Under the model, a 5% investment on syndicate is expected to range from €5,000 to €50,000, functioning as the only fee paid by members.
Lastly, the firm plans to adopt a range of tools, including website, social media feeds and mobile app comms; syndicate management and updates; yard and live stable tours, profile pieces and video content, the latter covering gallops, ‘racecourse workouts’ and ‘equine interest’.
Equine welfare; race previews and reviews; ratings, timings, form and results’ early entries, declarations and race shape criteria; betting data and odds; live low-latency race day streaming will also be included, alongside information on breeding and resale opportunities.
Murphy in particular highlighted Joseph O’Brien’s talent acquisition and training abilities, asserting that Stride is setting out to leverage its underpinning technology and engagement tools to ‘help owners seamlessly experience racehorse ownership at the click of a button’.
“Stable visits and racecourse privileges are par for the course, alongside the clubbable craic with your family, mates and members,” the CEO concluded.
“But it’s a long time between drinks in racing! And in racehorse ownership, there should be so much more to enjoy, evaluate and benefit from experientially and analytically. Stride is the fluctuating portfolio you won’t want to put down – and the one your friends and colleagues actually want to hear about.”
