7 days until they drop the bomb at GP

[Frost King]

Gulfstream wants the payout to be huge. That way they can say, for 0.20 you won $5M. It is in there best interest to make it as tough as possible to have 2/3 winners of this thing.

[tbonds]

Are they going to payout 5 of 6 as well? Or just to all 6 of 6

[ateamstupid]

Originally Posted by tbonds

Are they going to payout 5 of 6 as well? Or just to all 6 of 6

Only 6 of 6.

[asudevil]

What are we thinking for a final pool? 8, 10, 12M?

[jms62]

Originally Posted by ateamstupid

Only 6 of 6.

Joey.. If Monday no one has 6 of 6 (Unlikely) they will pay 5 of 6 right?

[tector]

Originally Posted by jms62

Joey.. If Monday no one has 6 of 6 (Unlikely) they will pay 5 of 6 right?

That is the definition of a mandatory payout, yes. If only 4 of 6 hit, they'd pay that, too.

[Kasept]

Rainbow Six pool could be a record
By Mike Welsch

HALLANDALE BEACH, Fla. - For several hours late Monday afternoon, the eyes of the racing world will be fixed upon Gulfstream Park, where a pool estimated to exceed $15 million will be distributed in the Rainbow Six.

The Rainbow Six is an offshoot of the more traditional pick six wager. But unlike the pick six, which distributes the daily jackpot to every player who selects all six winners in the sequence, the entire Rainbow Six jackpot is paid out only if there is a single ticket with the winning combination. The minimum bet is 20 cents and the takeout is less than 20 percent.

Going into this weekend, the Rainbow Six jackpot had not been hit since Jan. 10, surviving 73 consecutive programs through last Sunday, with the jackpot growing to $6,303,426. If the jackpot is not hit on Saturday or Sunday, it will be paid out on Monday.

Track management is estimating another $10-12 million could be bet on the Rainbow Six by the time the final wager is placed prior to Monday’s fifth race.

The highest pick six pool ever recorded in the U.S. was the $10,870,852 distributed at Hollywood Park on July 2, 2007, with each winning ticket worth $576,064.

The previous record Rainbow Six pool was $5.1 million, distributed on closing day of the 2011 meet. A total of $3.5 million was added to the $1.6 million carryover that afternoon. The winning combination returned $3,279. The Rainbow Six was a 10-cent wager at the time. It was upped to a minimum 20-cent bet this year. The highest single payout in the Rainbow Six was $3,591,245 on Feb. 22, 2013.

The Rainbow Six has been hit just three times during the 2013-14 championship meet, which started on Dec. 1. All three of those jackpots paid out, oddly enough, within a one-0week period from Jan. 3 through Jan. 10.

[tector]

http://www.equibase.com/static/entry...14USA-EQB.html

[lemoncrush]

Originally Posted by Frost King

Gulfstream wants the payout to be huge. That way they can say, for 0.20 you won $5M. It is in there best interest to make it as tough as possible to have 2/3 winners of this thing.

I think they would want a lot of winners, not just a few, esoecially to turn more people onto the wager next year.
And with a 20 cent increment and at least 4-5 million being bet into it, there will be a lot of winning tickets.

[tanner12oz]

I have a strong feeling that things might not be as they appear come Monday...too much money of the line for greed to not take hold

[blackthroatedwind]

Originally Posted by Frost King

Gulfstream wants the payout to be huge. That way they can say, for 0.20 you won $5M. It is in there best interest to make it as tough as possible to have 2/3 winners of this thing.

Actually, that is the exact opposite of what they want.

It is already quite possible the $6 million sitting in a proverbial shoebox has been damaging churn on a national level. If there were somehow two or three winners, a virtually impossible occurrence, it would be very bad for handle going further.

I hope reasonably short prices win every race and we can get the money back into the hands of players.

[casp0555]

Originally Posted by blackthroatedwind

Actually, that is the exact opposite of what they want.

It is already quite possible the $6 million sitting in a proverbial shoebox has been damaging churn on a national level. If there were somehow two or three winners, a virtually impossible occurrence, it would be very bad for handle going further.

I hope reasonably short prices win every race and we can get the money back into the hands of players.

well stated.....

[Travis Stone]

Originally Posted by blackthroatedwind

Actually, that is the exact opposite of what they want.

It is already quite possible the $6 million sitting in a proverbial shoebox has been damaging churn on a national level. If there were somehow two or three winners, a virtually impossible occurrence, it would be very bad for handle going further.

I hope reasonably short prices win every race and we can get the money back into the hands of players.

Exactly... the impact of this bet and Gulfstream's signal popularity as a result has had a significant trickle down effect felt by many.

[Frost King]

If Gulfstream wanted as many winners as possible, then they would card a couple of gimme races in the sequence to insure that result. By offering horseman extra money to FILL the fields, they are doing the exact opposite. They are making it harder, to increase the handle, and insure the BIG PAYOFF for a couple of dimes. The fact, that they have sucked the money out of the system, and possibly hurt other circuits, is not their concern. Just like any businessman that says competition is healthy, is liar. You want to drive your competition out of your area, so that you are the only seller of your widgets. Therefore, you set the rules of pricing.

[tector]

Is there anything preventing other tracks from offer a similar bet? Certainly any of the major players could do it.

GP primes the pump on this wager during the core of their winter meet, and now has been able to carry it forward an extra 8 weeks or so. Good for them, and tough crap for loser tracks that can't (or increasing in the case of CDI tracks, won't) compete.

[Rudeboyelvis]

Originally Posted by tector

Is there anything preventing other tracks from offer a similar bet? Certainly any of the major players could do it.

GP primes the pump on this wager during the core of their winter meet, and now has been able to carry it forward an extra 8 weeks or so. Good for them, and tough crap for loser tracks that can't (or increasing in the case of CDI tracks, won't) compete.

Agree - it is brilliant strategy. I've played it quite regularly since March, a time when typically I write off South FL racing until December

[Rudeboyelvis]

I'm curious how many syndicates would consider buying the sequence - to draw some rough assumptions - say 8 mill in the total pool and, for the sake of my poor math skills, 10 betting interests per race -

So to cover every horse, 10 to the 6th power or 1 million / .20 wager so $200,000 to buy the field. Is that right?

I'd say that the reality of it paying that well is minimal.

[lemoncrush]

Originally Posted by Frost King

If Gulfstream wanted as many winners as possible, then they would card a couple of gimme races in the sequence to insure that result. By offering horseman extra money to FILL the fields, they are doing the exact opposite. They are making it harder, to increase the handle, and insure the BIG PAYOFF for a couple of dimes. The fact, that they have sucked the money out of the system, and possibly hurt other circuits, is not their concern. Just like any businessman that says competition is healthy, is liar. You want to drive your competition out of your area, so that you are the only seller of your widgets. Therefore, you set the rules of pricing.

I don't disagree, but making the sequence of races tough is done to force people to throw more money (and create bigger priced tickets) rather than just hoping that only a few hit it. Getting more money back in more horseplayers pockets is good for their bottom line too, hoping many will put at least a portion of that back into the races at GP (might be wishful thinking based on their limited schedule and quality of races until their meet ends in late June).

[ranger5830]

Originally Posted by lemoncrush

I don't disagree, but making the sequence of races tough is done to force people to throw more money (and create bigger priced tickets) rather than just hoping that only a few hit it. Getting more money back in more horseplayers pockets is good for their bottom line too, hoping many will put at least a portion of that back into the races at GP (might be wishful thinking based on their limited schedule and quality of races until their meet ends in late June).

This, plus remember that the more money that gets bet into it, the more they get in takeout. If everybody (say 100,000 players just for example,) thought they could hit it with a $16 ticket, that's $1.6 million in handle. If every one of those players plays a $144 ticket because it's more challenging and they need to spread more, then they handle (and take 20% of) over $12 million. And when you consider it will likely be the largest pool of the year that doesn't involve a triple crown race, and a secondary track like GP in the summer only gets one shot at it, they certainly want to make it as tough as possible to build that day's pool.

[parsixfarms]

Originally Posted by ranger5830

This, plus remember that the more money that gets bet into it, the more they get in takeout. If everybody (say 100,000 players just for example,) thought they could hit it with a $16 ticket, that's $1.6 million in handle. If every one of those players plays a $144 ticket because it's more challenging and they need to spread more, then they handle (and take 20% of) over $12 million. And when you consider it will likely be the largest pool of the year that doesn't involve a triple crown race, and a secondary track like GP in the summer only gets one shot at it, they certainly want to make it as tough as possible to build that day's pool.

While recognizing that tracks can often have an incentive to make a pic-6 sequence difficult to encourage carryovers (which importantly is NOT the case here given the mandatory payout), I am not of the belief that making a pic-6 as hard as possible is a way to increase handle on the wager. To the contrary, for a player with a limited bankroll, if the sequence is too difficult, to the point that where he or she concludes that a typical play offers no realistic chance to hit the bet, then they player simply opts out of the wager. That is why the $.50 pic 4s and 5s have become far more popular with the average player than the $2.00 pic-6. That said, the $.20 increment on this wager does give the small player the opportunity for more coverage, so opting out is less likely (but it does not mean he or she bets more).