Maryland has long been known for its equine industry—with an economic impact of nearly $3 billion, the sector supports more than 28,000 jobs throughout Maryland. And with more horses per square mile than any other state, it’s hard to find a resident who hasn’t supported the industry’s racing, competition, or recreational assets in some way.

For years, owning a horse (especially for competitive purposes) was considered an expensive investment. But today, Frederick business owner Kyle Yost is working to make racehorse ownership accessible for everyone.

Yost acquired an interest in the horse industry growing up in Southern Pennsylvania—his parents worked with livestock and thoroughbreds—but lost touch with it during college. After moving to Frederick in 1996, he and his brother started an IT solutions company, which led him back to the racing world.

“It was through En-Net Services that we met people involved with Thoroughbred racing, and from there, we claimed a horse, and then became involved with seven horses the next year,” said Yost.

It didn’t take long for Yost to wonder how they could get more people involved, including those without prior Thoroughbred knowledge.

“Friends and family saw how much fun we were having and we thought, ‘okay, maybe we can do something where we can help the industry and bring people into the sport at a low dollar amount,’” said Yost.

Yost partnered with his friend, Brian Richardson, to officially open Taste of Victory Stables in 2015. Yost serves as the East Coast Managing Partner, with Richardson serving the West Coast.

“We were one of the first to be doing this—providing a low cost of ownership and expenses going forward,” said Yost, who explains there is equity ownership in the Thoroughbreds, and specific plans that provide profit distributions based on the horse’s winnings.

There are three parts to the business: the first is a true syndicate model, Yost says, where they buy horses, sell shares of the horses, and manage the horses for shareholders. This helps co-owners “not get in the weeds of management” and allows Taste of Victory to handle the work behind-the-scenes, making Thoroughbred ownership affordable to the masses.

“We provide an education to the co-owners as well as highly regular communications about the horse’s activities,” said Yost, who says they are also involved with Thoroughbreds outside of the racing sector, including breeding.

The second and third parts of the business are private client management and corporate/group event participation, which allows individuals and groups to show up for workouts and race days, and for companies to have outings to barns or training facilities to meet the horse trainers, staff, jockeys, and the animals themselves. What makes Taste of Victory different is their ability to customize the partnership based on the client’s wishes, followed by teachings on all things Thoroughbred, including breeding, foaling, training, secondary careers, and more. The company also provides an overview on how to read a racing form and bet on the races.

“We have been hired by small groups and large corporations to attend local tracks or big events like the Preakness, Black Eyed Susan Day, and the Kentucky Derby,” said Yost.

The company has managed 200 horses across the country, had more than 500 people involved with ownership groups, and ran in approximately 1,500 races over the years. Taste of Victory Stables works with breeders in Maryland, California, Kentucky, Ohio, and elsewhere, but says Maryland’s history in Thoroughbred racing is rich, noting that it was the second most productive Thoroughbred breeding state in the 1970’s.

“There’s no place in the country where you have more thoroughbred racetracks in a short distance than Maryland—that’s the difference,” said Yost. “If you’re training a horse in Laurel, you can get anywhere around the Mid Atlantic. The region has a major diversification of racetracks, including dirt, turf, and synthetic tracks.”

With the 150th Preakness Stakes and newly created Preakness Festival quickly approaching, Yost says the second jewel of the Triple Crown has withstood the test of time. “This is a great event for the state, for our people, and for the industry. It’s one of the older sporting events in America, and has touched so many people and generations of families.”

“The renovation plans for Pimlico Race Course look spectacular, and the economic impact for Baltimore and Maryland is tremendously more beneficial than the cost,” he said. “There’s a lot that goes into this milestone and to making it another 150 years. Let’s help it move forward!”

To learn more about the company and sign up for its free weekly newsletter, visit tovstables.com.