Santa Anita to debut "Group Bet (Horse Racing Roulette)".
 

Takeout will be 15.43%

Definitely not for me.

And I understand that novices are the group who they are targeting.

@BH_JBalan


Sooooo... Here's an interesting little tidbit on the upcoming meets at Santa Anita and Golden Gate. I missed it on the meet applications that were approved by the CHRB last month, and no CHRB members asked any questions about a brand-new wager on the menu.

Jeremy Balan‏Verified account @BH_JBalan

So what's a "Group Bet (Horse Racing Roulette)," you ask? I've tried to get an explanation on exactly how it will be deployed from multiple executives at The Stronach Group and have not received a response. And it's not in the meet application to the CHRB.

Jeremy Balan‏Verified account @BH_JBalan

In the absence of a response from anyone at The Stronach Group, here is the ARCI rule for the wager, which is cited in the meet application to the CHRB. It's kind of word soupy.

Jeremy Balan‏Verified account @BH_JBalan

So here's my best guess... Every race will have "red," "black," and "green" groups of horses to wager on to win (like roulette). So if there is a 7-horse field (1-3 might be red, 4-6 might be black & 7 might be green). Odds will be parimutuel, but in a standalone pool.

Wait for a track bias and cash in.

That's basically correct. On the groupings, my understanding is that they'll be based on morning line odds, so that red and black are as close as possible to a 50/50 proposition. While the green group will be all longshots.

So for example, if the morning line for a race is:

#1 - 5/2
#2 - 7/2
#3 - 12/1
#4 - 12/1
#5 - 9/2
#6 - 3/1
#7 - 15/1

Then the roulette groups would be something like:

Red - #1, #5
Black - #2, #6
Green - #3, #4, #7

Won't be a perfect science, and once money starts coming in and odds change, the groups will get totally skewed. Probably some value to be found by a smart bettor, just a question of whether there's enough liquidity to care. Think it's just TSG tracks and maybe XpressBet that will be wagering to start, with the other ADWs and totes taking a wait-and-see approach.

I actually think this is a very good idea. It could both attract show-betting type novices and offer some value to experts.

I can see a problem if the favorite is a late scratch or any horse in each group is scratched late and people aren't able to cancel in time.

They have a similar bet in Hong Kong.


Allan

Another terrible bet takeout wise being introduced.

Are people PAID for with these wagering ideas?

Its called the 3 Pick 1 where they group horses based upon the morning line


A1. Chalk(s)
A2. Mid price(s)
A3. everyone else


Payoffs were between 2.60 and 5.80 (for a 2 unit bet) this past Saturdays races.


Allan

The takeout is pretty low. It's not like a show pool. There is one payout and one breakage.

and to boot its a copycat.


Allan

For a three horse bet? No way that is low.

It's one betting interest! Like a 3 horse entry!

Yes, I get it. You have three betting options with a 15+% takeout. That is terrible for horseplayers. It is slightly better than the same takeout on a coin flip, but here you won't even know the odds you are getting until after the bell.