California Tournament style wager?

[trigger]

Anybody have any info on this?:

The model rule on tournament-style wagering was passed at the request of the California Horse Racing Board, which required having a model rule on this issue before it can pass such a rule. If the CHRB now approves the rule, it would allow California tracks to offer a wager patterned after the many popular handicapping contests in the United States"
http://www.thoroughbredtimes.com/national-news/2008/March/26/Racing-regulators-pass-model-rule-on-trainer-licensing.aspx

[Dave Schwartz]

What the heck is a "tournament-style wager?"

[TrackManSam]

This very well could be something that will change the face of horse race wagering. From what I understand, it will encompass 6 or 7 races. There is a buy in (say $25). You are given a card (similiar to a players tracking card) that has a certain amount of chips on it, as well as a code name or number. You wager these chips to win, place, or show on a horse. After every race, the tourney is updated and the standings are shown on the TV monitors. After all the races are complete, the players are paid out based on what position they finished and how much is in the pool. Someone correct me if I'm wrong, but it will be much like Texas Hold-em rules.

From what I read, they would do this in cooperation with the WPT (world poker tour) and may even get some TV coverage on it. The key to this would be getting all the simulcast outlets involved. If it can be done painlessly, we are going to be looking at some giant pools and payouts.

I know I maybe jumping the gun on this, but this thing could very well be the savior of racing if its done right.

[trigger]

Here's the transcript of the 2/28/08 CHRB meeting where this tournament style wager is discussed (starts on page 103).
It's interesting that the World Poker Tour apparently came to the California horse people with this idea not the other way around.
http://chrb.ca.gov/board_meeting_transcripts/TRANSCRIPT%2002-28-08.pdf

[stuball]

I have an idea for this tournament bet...How about an
area or large table with 20 numbered seats....after each
race the standings are posted and top 20 ranked players
would sit in the seats according to rank....would make for great tv...(don't you think?) reactions would be great...if
you lose and drop you are out of the table of honor.

Stuball :lol: :lol: :jump: :jump:

[rastajenk]

With a Donald Trump-style steward making the assignments: "You Suck....you get chair #20...NOW!" :D

[boomman]

This very well could be something that will change the face of horse race wagering. From what I understand, it will encompass 6 or 7 races. There is a buy in (say $25). You are given a card (similiar to a players tracking card) that has a certain amount of chips on it, as well as a code name or number. You wager these chips to win, place, or show on a horse. After every race, the tourney is updated and the standings are shown on the TV monitors. After all the races are complete, the players are paid out based on what position they finished and how much is in the pool. Someone correct me if I'm wrong, but it will be much like Texas Hold-em rules.

From what I read, they would do this in cooperation with the WPT (world poker tour) and may even get some TV coverage on it. The key to this would be getting all the simulcast outlets involved. If it can be done painlessly, we are going to be looking at some giant pools and payouts.

I know I maybe jumping the gun on this, but this thing could very well be the savior of racing if its done right.

I agree! The folks on the World Poker Tour, from founder Lyle Berman, Mike Sexton and down the line know their stuff, and I have been saying for a long time that we need to capitalize on bringing the younger set into horse racing via tournament play (like poker did) and this could be exactly the vehicle to do it. My props to California for innovating some new wagers (even though I have gone on record as not being too excited about the pentafecta being a $1 minimum bet and stand by my statement that it would do more handle if it was a smaller minimum) it has been a successful wager and Kentucky has just approved it. Anything that will bring the younger set to horse racing and generate excitement and new customers while aiding the "bottom line" at the same time and in which horse racing can return to depending on handle to fuel it's operation I'm a huge proponent of........A national tournament at the end of the year can generate great excitement as well.......:ThmbUp:

Boomer