As with the dogs I have not been the member of a horse syndicate but can quickly think of some friends who have "gone down that road". They have all had positive good experiences. This doesn't mean that they have necessarily made a profit but they had a lot of fun including one lot winning a feature jumps race. HOWEVER, I know that it is not logical reasoning (it is not reasonable) for me, on the basis of these few cases to draw a conclusion across the whole population of racing syndicates. Nevertheless, if I was putting $10,000 into a horse syndicate and if I could afford it, I would be going in on the basis of, "the strong chance is that I am never going to see that $10,000 again". That same philosophy applies to spending any money on dogs but the money is not my reason for being involved.