McGEE: Clarifying the pick-6 at Churchill for Thursday

[Kasept]

Clarifying the pick-6 at Churchill for Thursday
Marty McGee , Churchill Downs , 2016-05-09 - DRF Live

Here's what's happening with the $686,309 pick-6 carryover from Kentucky Derby Day:

Half of it ($343,154) is being used in a MANDATORY-PAYOUT pick-6 (now called the "Single Six") when racing resumes Thursday with an 8-race card (races 3-8). First post is 5 ET (Twilight Thursdays the rest of the meet.)

The other half ($343,154) is being used to "seed" a new single-6 wager on Friday after the bet is dispersed Thursday.

THERE IS A 20-CENT minimum on this wager through the end of the spring meet, July 2. It's very similar to how Gulfstream Park runs their Rainbow-6, except for percentages (after takeout) of immediate payout vs. carrying over to jackpot.

Gulfstream = 70 pct. daily payout, 30 pct. to jackpot

Churchill = 90 pct. daily payout, 10 pct. to jackpot

Here's the link to the info Churchill officials have made available about their new Single Six: https://www.churchilldowns.com/singl...ot-information

[Kasept]

Nuttiest. Scheme. Ever.

[Kasept]

STEVE CRIST (On concept from March..

Sick 6 at Churchill

Speaking of carryovers, here’s hoping someone hits the pick six on the Kentucky Derby card at Churchill Downs on May 7. Otherwise, a game of parimutuel three-card monte will kick in under a scheme unfortunately approved this week by the Kentucky Horse Racing Commission.

To see how it works, let’s suppose that the Derby pick six pool, where the minimum bet is $2, is exactly $1 million. After the usual 22 percent takeout, that leaves $780,000 that’s supposed to be paid out – $190,000 in Derby Day consolations and $570,000 that normally would be up for grabs in a carryover pool when racing at Churchill resumes on Thursday, May 12.

Instead, Churchill will add only half of that $570,000 to the May 12 pool, which will be conducted with a 20-cent minimum and with a mandatory payout. The other half of the pool will be carried over to Friday, May 13, to seed a new Rainbow-style “Single 6” pool that Churchill is beginning that day. That pool is paid out only when there is a lone winner, so it’s entirely possible that the Derby Day carryover money won’t be paid out until June.

This is dangerous policy that disrespects the integrity of the wagering pools. It makes the effective pick six takeout on Derby Day a whopping 49 percent, with $220,000 from that $1 million pool going to standard takeout and another $270,000 in carryover money going into an entirely different kind of pick six pool starting almost a week later. It is also messy to have a carryover pool from a $2 minimum wager paid out several days later on a 20-cent-minimum wager.

It amounts to diverting money from a parimutuel pool into a marketing scheme to promote an entirely different wager, a scary precedent that could enable tracks to seize money from parimutuel pools for their own promotional use. Churchill makes more than enough money on the Derby to seed its own pool for a new wager without confiscating it from bettors who deserve to be paid the full carryover the first time the pick six is hit after Derby Day.

[wac]

please correct me if im wrong but 343k will be in the pool at the start on Thursday for a pick 6 that will be .20 as opposed to the normal $2 and that must be distributed. can someone let me know if i am correct on this? then the rest of the money will go into the gulfstream style rainbow 6 and that will also be at .20 increments? thank you in advance b/c i am wicked confused.

[pointman]

Just more evidence that CDI takes horseplayers for fools.

[pweizer]

This is outright theft. They are seeding a new bet with money taken from horse players, 90% of which will never play into the new pool. Surprised the state racing commission allows this and even more surprised that players will allow it.

Paul

[casp0555]

This is unbelievable.....whats their angle and how much will they make off of it? CDI should wait until the P6 is hit then change but I guess that is a lot to ask for...sheesh

[Kasept]

Originally Posted by pweizer

This is outright theft. They are seeding a new bet with money taken from horse players, 90% of which will never play into the new pool. Surprised the state racing commission allows this and even more surprised that players will allow it.

Paul

That's the germane point Paul. The KHRC is 100% responsible for approving this bizarre plan.

[Pants II]

Kentucky politics in a made up quote...

"Yeah she's her aunt. How do ya think she dun got the job?"

[tanner12oz]

there was confusion on twitter if the bet was a jackpot bet on derby day or not....a whole lot about this story stinks

[Benny]

CD IS DEAD TO ME

[Kitan]

Could they have fielded a worse sequence?

[herkhorse]

I'm probably in the minority at this point, but I prefer the old school 2.00 minimum pick six. I hope it stays that way in NY and Cali.
As far as this scheme goes, smh.

[herkhorse]

Mzapropriatedfunds wins the last race

pick 6 pays 679.40 and gets money back in the hands of the horseplayers, something people are always clamoring for.