Owning a National Hunt horse should be seen as a hobby and not as a money-spinner.

With its breeding opportunities, Flat racing is a much more viable financial proposition than its cousin over the jumps.

But the down side of the Flat is many horses are retired to stud at a young age, potentially depriving the sport of its future stars.

It costs about �12,000 a year to own a National Hunt horse in training.

Prize money is relatively poor compared to Flat - and the risks of injury are obviously higher.

But there are cheaper ways of ownership, such as joining a syndicate.

Racehorse owners range from farmers to lottery winners and celebrities.

Several famous names have a whole string of jumping horses.

These include Lord Lloyd-Webber and footballers Steve McManaman and Robbie Fowler, whose horses run under the name of the Macca & Growler Partnership.