How did you get into racehorse ownership?

Essentially through working in racing through my business as a bookmaker, Chronicle Bookmakers. My father Noel was a bookmaker at Shelbourne Park and he owned many greyhounds at the time. We had a lot of friends in racing.

I started off with Eddie Lynam around about 1998 and had two horses with him – High Society and Poco A Poco – and that got me hooked.

What was your best day at the races and why?

It has to be when Band Of Outlaws won at Cheltenham last week (Boodles Juvenile Handicap Hurdle).

I have had plenty of winners over the years but to lead in a winner at Cheltenham was surreal.

We had him since he was a yearling and he was a good flat horse. He was rated 95 on the flat and we couldn’t place him easily so Joseph (O’Brien) said we’ll try this lad over hurdles.

His first race over hurdles at Cork in December 2018, he kicked them out of the way, (placed third). I guess it was like his first day at school.

Then he won his next two hurdle races at Limerick and at Naas and he was super.

We watched the race at Cheltenham in the parade ring. We had a runner the previous day, Riders Onthe Storm, and he fell so we moved places to a luckier spot!

It was very emotional for all my family as my mother Margaret had passed away when the horse won at Christmas and we entered him for Cheltenham after that.

It is fantastic but I’ve been waiting for this for nearly 30 years!

Racing is one big family really. Everyone is delighted for you when you win and we all cheer each others’ winners or commiserate with the losers.

What is the biggest drawback about being a racehorse owner?

It’s an expensive hobby – you get a love for it and then you want to have more.

People looking for tips! Especially winning tips. People think you must know what’s going to win, especially as a former bookmaker.

In your experience, which racecourse in Ireland treats owners the best and why?

At every track where I’ve had runners they all trying really hard. Owners play such a big part in this sport with huge outlays – cost of the horse, training fees, vets bills, transport, entry fees etc., and tracks need those horses and owners.

Owners are buying more and more decent horses which upgrades the racing and the track management are trying hard to match this commitment by owners.

Flat or jump racing, which do you prefer and why?

I like both but if I have to pick one code, what I really love are the jumps festivals – Cheltenham, Aintree, Galway, Punchestown and Listowel. You can plan your year around them and those festivals of jumping shine a bit brighter.

What qualities do you look for in a trainer?

I have horses with Joseph, Jessie (Harrington) and Eddie Lynam, Tom Taaffe, Tom Mullins, Fozzy Stack, Pierce Power and a few in the UK also!

What they have in place is a successful and forward thinking detailed plan for each horse, especially if it’s a very good horse.

You also need a trainer you can have good fun with. Joseph is and is seriously talented – he’s definitely picked up a lot of Aidan’s methods.

I enjoy going to the yards to see my horses but I leave the training to the trainers.

Sometimes we place them where I would like to go.

What improvements would you like to see racecourses in Ireland do for owners?

The new Curragh looks good and a lot of tracks have upgraded their facilities.

I think in Ireland we need to promote racing more as a good day out for a group of friends. If I go racing I like to bring about six to eight people and show them a good time. Maybe tickets for these groups could be offered as a discount – you feel a bit under pressure asking for extra tickets.

At tracks like Chester in the UK, the facilities are organised for groups and plenty of people go who are new to racing. If these people come, have something good to eat and have a great day out, they might say ‘I like this’, return and even buy a horse or two with a few friends.

What significance do your colours hold?

The blue and gold/yellow of Wicklow GAA colours, I’m from Bray, Co Wicklow. My Dad won a Junior All-Ireland Football title in 1969, captaining the team. I don’t think Wicklow has won anything since! I played minor football for Wicklow also.

When buying a horse, what do you look for?

I’ve been going to sales for 25 years and I do have some idea of what I’m looking at but I take advice from friends and my trainers. I enjoy looking at horses for sale and all the drama of the sales but I don’t profess to know too much.

I have a few broodmares now and it’s interesting to see foals and other stock at the sales when I’m deciding who to send the mares to.

What horses do you currently have in training?

I seem to have quite a few - Band Of Outlaws is in the limelight currently.

A Bit Special is a filly I’m involved with in the US; she won a Grade 3 the other day.

Burning Ambition, the leading hunter chaser, is another horse I am involved with. He’s going in the Foxhunters at Aintree hopefully. Riders Onthe Storm probably runs in the Punchestown Festival.

Christopher Robin won a maiden hurdle at Wexford last Sunday. Rockfish and Rainbow Moonstone are others we have.

I have a share in O Connell Street with Nicky Henderson and The Very Thing with Olly Murphy and an exciting bumper horse with Dan Skelton who has yet to run. So plenty on the go.

What’s next on the agenda for your horses?

Band Of Outlaws goes in the Grade 1 at Aintree on the Thursday, the Doom Bar Anniversary four-year-old Juvenile Hurdle, and Burning Ambition is being aimed at the Foxhunters the same day so that’s exciting.

Have you any horses to look forward to?

I have a few new two-yea- olds for the flat and we bought a few in the Derby Sale and a few more bumper horses yet to run.

O Connell Street with Nicky Henderson is one I’m excited about. He’s a half-brother to City Island, Sean Mulryan’s horse who won the Ballymore Novices’ Hurdle at Cheltenham.

What would help to make Irish racing more competitive for the smaller owner/trainer?

I think there should be open competition in racing. You can still buy a reasonably priced horse that can compete and be a winner without having to fork out €200-300,000. If you have a trainer with a good eye there is every chance they can spot a good one that need not cost the earth.

You can’t knock the big boys for investing so heavily in the sport.

What advice would you give to someone thinking of becoming a racehorse owner?

Think about it carefully. If you decide to go into ownership, go in with a group first and split the costs. Taking on horses as a single person, you can get burnt. By splitting the costs, that way racing horses can be a bit of fun with the costs absorbed and you can plan the days out with your friends. Some like it and stay on as new owners. I would also give the advice to take profit sometimes when you get a nice horse and I have sold many over the years – Us And Them, Shady Operator, Early Doors etc. I have some horses in shared partnerships and some on my own but I enjoy them all. When you get to like it, it’s a bug.

Justin Carthy was in conversation with Olivia Hamilton.