SVREL extends draw date for You're The Owner promotion

Supreme Ventures Entertainment and Racing Limited (SVREL) has extended the deadline for entries and the draw date for its 'You're the Owner Promotion' in order to meet demand for tickets that will make one lucky Jamaican the owner of a thoroughbred racehorse.

The draw date for the promotion had originally been set for December 26 but according to Peter Green, SVREL's director of marketing, the demand has been such that they are going to use the one-month extension to improve the distribution of the tickets that cost $500.

Tickets can be had at select SVL lottery locations, off-track locations and at Caymanas Track in Gregory Park, St Catherine. The new deadline for entries will now be Saturday, January 19, 2019, with the new draw date set for January 26, 2019.

In October, SVREL launched the raffle for a thoroughbred valued at $1.5 million. The horse was bought at this year's yearling sale on Sunday, November 11 for J$1.1 million so the lucky winner would also get $400,000 in cash.

Additional Benefits

Moreover, according to Green, the new owner, once he or she takes possession of the horse, will enjoy some additional benefits.

"SVREL will stand the cost of the keep and care of the horse for the first two years of the horse's racing life, as a two-year-old and a three-year-old. We are undertaking it because we are trying to bring new owners into the industry and this is one way of making it very affordable for someone who has always wanted to own a racehorse but never thought it possible," Green said.

"The success of the industry is dependent on new owners coming into the industry so we that we can build our stock of racehorses."

The owner will get to choose the trainer, the colours, and they will pocket all the earnings from the horse, making it a risk-free investment.

The horse will be insured, meaning that if the horse dies or has to be put down for any reason, the new owner can recover the value from the insurance payout.