Madchester wrote:
So even if i buy the horse for say 60k, i will only pay 3k because its my horse?
And obviously i would pay the full 60k if it was someone else horse.
Correct. If it's your horse you're buying back you're entitled to the proceeds of the sale, after the racecourse and the government have taken their cut.
If you go racing in the UK, after an owner or trainer acting on their behalf has bought their own horse back after winning a seller I think you usually hear the auctioneer say "bought in".