Twinspires - Jackpot 5 Bet

[Hoofless_Wonder]

Being a fan of the jackpot style wagers (unlike Andy Beyer), I looked over the new Jackpot 5 bet that Twinspires is offering today. Here's my thoughts, assuming I'm reading the rules correctly:

Pros:
****
- 20% takeout which is effectively lowered by TS which will "seed" money into the pool(s). Starts today with a $25K pot.
- 20% rolled into jackpot with carryover, leaving 60% of the pool paying out, which is effectively a 40% takeout vs. 62.5% on other jackpot pools
- free PPs and analysis
- mandatory payout when the carryover pool hits $500,000

Cons:
****
- confusing bet structure - combination of 20 cents for the jackpot which I believe is for winners, and 80 cents for the "show" pick 5 pool - can't tell how that works looking at the wagering menu
- late scratch gives you the post time favorite - BAD!!!! The win pool, being a different pool than the pick 5 jackpot pool should not determine your selection
- the wager spans multiple tracks - some folks may like this, but today's bet offers three races from Arlington, and one each from Indiana Downs and Louisiana Downs. As the jackpot rolls and grows, you're at the mercy of the pool manager to select races you can hit.

I'm on the fence on this right now, but if nothing else will be tuning in when the pot hits $500,000. I used to like the NTRA Pick 4 which spanned tracks, but it was all stakes races IIRC.

What say ye, PaceAdvantage.Com people?

[mannyberrios]

The cons win

[Hoofless_Wonder]

Hmmm. Looks like a whopping $10K was bet into the pool yesterday, as the carryover today is $27K. It appears from the results page that nobody had the "winning" pick 5, but the "show" pick 5 paid $155.36.

Something tells me the Twinspires Jackpot 5 bet is not long for this world....

[davew]

Is Twinspires an ADW or actually Churchill Downs?
Is this bet only vailable through twinspires?


Can anyone start their own pool? or does someone regulate them?


I remember the Magna 5 which was fun, but just a pick 5 across the country with Stronach properties (if I remember correctly)..

[duncan04]

Is Twinspires an ADW or actually Churchill Downs?
Is this bet only vailable through twinspires?


Can anyone start their own pool? or does someone regulate them?


I remember the Magna 5 which was fun, but just a pick 5 across the country with Stronach properties (if I remember correctly)..


All the tracks in this new pick 5 are CDSN tracks. So it is somewhat similar to the Magna 5

[DeltaLover]

IMHO Magna 5 was the best long horizontal bet.

I like the idea of five races picked from various tracks while contacted within an hour or less, while maintaining a $2 minimum creates the opportunity for large pools and very high payouts. If memory serves me correctly, there were cases where the M5 was paying over 20 times more than a theoretical win parlay.

I think that if this type of bet was offered twice per week (Saturday - Sunday) promoted by national TV and made easy to bet from any lottery place, it would revive the public's interest to horseracing. Can you imagine of a national Magna 5 where pools open a day ago attracting bettors from anywhere? I think it could easy grow to over $10M per pool.

In contrary to Magna 5 I pay absolutely no attention to gimmics like GP 10 cents P6 or Lousiana Downs P5 that are among the worst betting propositions.

[Hoofless_Wonder]

Delta, I thought the Magna Pick 5 wager was a one day a week event, and I don't recall the pool ever getting much bigger than $400K or so. Why do you think the handle of an updated version of that wager would grow to $10M?

As for the jackpot 5 on Twinspires, it looks like the FAQ got updated or I can understand it better now. Your $1 wager is turned into two bets - 20 cents for the winners, and for the jackpot pool going to a single winner or being distributed when it hits $500K - and 80 cents going into a show bet for the same horse, sort of like the Grand Slam on the NYRA circuit, except the you just have to show in all five legs, and not have the winner in the last. The wager is available on Fri, Sat and Sun.

If last weekend was any indicator, it'll take something like 79 racing weekends for the jackpot to grow to $500K, and be ready for a mandatory distribution. December, 2014?

I didn't bet it either day, but noticed some interesting differences in the show "parlay" payouts on Saturday and Sunday - $155.36 and $7.92. Must have been some serious chalk winners on Sunday....

[therussmeister]

Is Twinspires an ADW or actually Churchill Downs?
Is this bet only vailable through twinspires?


Can anyone start their own pool? or does someone regulate them?


I remember the Magna 5 which was fun, but just a pick 5 across the country with Stronach properties (if I remember correctly)..
Yes, it is only available through Twin Spires, which is why the pools will not be much.

[startngate]

Can anyone start their own pool? or does someone regulate them?


Any of the licensed ADWs in Oregon can create their own pools.

They do have to get permission from the host tracks, which is probably why TwinSpires is only using CDI tracks to get started.

[davew]

Is this a $2 wager?


I am guessing $10 will be closer than $150 for typical show parlays


Is this a win pool jackpot? Do they have consolation prizes for 5 wins by multiple tickets?

[yzerman]

Jackpot 5 was hit today for $31,552. When it is brought back on Friday, Twin Spires is only seeding it with $10,000 this time.

[Hoofless_Wonder]

Is this a $2 wager?


I am guessing $10 will be closer than $150 for typical show parlays


Is this a win pool jackpot? Do they have consolation prizes for 5 wins by multiple tickets?

It's a $1 base wager.

Show "parlay" results over the weekend were $15.20, $5.68 and $10.40, so your estimate of $10 typical payouts seems pretty close.

20 cents for each dollar goes into the "win pool" jackpot, which got hit Sunday. There are no consolation payouts for 5 wins by multiple tickets - you do however, get paid for the "show parlay" side of things.

[duncan04]

Had its first winner for $31,676.80

http://blog.twinspires.com/2013/08/rick-hausman-had-busy-sunday-drop-his.html

[Hoofless_Wonder]

After rolling over on Friday with the "seed" money reduced from $25K to $10K, the pool was hit again yesterday - a single ticket for $11,241.12.

Today's pool has no carryover, and zero seed money.

[rrpic6]

My Morning Line is 5/2 that this bet disappears before Halloween.

RR