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What are the advantages of buying yearlings instead of older proven horses?

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What are the advantages of buying yearlings instead of older proven horses?

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In general, in Ohio, the “big money” is made through stakes racing when the horse is two and three years old. So, by purchasing a yearling, and developing it into a racehorse for stakes races your rewards can be greater than those attained by racing an older proven horse at a racetrack. However, the risks with yearlings are greater because their talents and abilities are unknown. They are basically untried animals that may, or may not, make it to the races.

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