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10-17-2016, 08:41 PM
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#1
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Registered User
Join Date: Dec 2008
Posts: 326
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Explain this winning ticket?
I hit the Pick 5 (for 50 cents) at Keeneland on Saturday, and don't understand this ticket.
The payoff, per Keeneland's "results" page should have been $8360.60.
8360.00 shows on the ticket as taxable. Close enough, but where's the $0.60 difference? I received 6443.30 in cash.
Where does the $9034.30 come from?
ticket
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10-17-2016, 08:43 PM
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#2
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Registered User
Join Date: Jul 2015
Posts: 877
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Off the top of my head Keeneland pays 4/5 as well, so you got some consos in there as well
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10-17-2016, 08:48 PM
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#3
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Registered User
Join Date: Dec 2008
Posts: 326
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What are "cosnos"? Is the difference between 9034.30 and 8360.00 the takeout?
That's only 7.46% I thought the takeout was something like 18%.
Last edited by SkunkApe; 10-17-2016 at 08:50 PM.
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10-17-2016, 08:50 PM
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#4
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Registered User
Join Date: Jul 2015
Posts: 877
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Consolations, so for example if you played a pick 6 in new york and got 5/6 you got a smaller payoff. Some tracks also pay 4/5 in pick 5s, so in addition to getting paid for the 5/5 you also get paid for 4/5 as well.
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10-17-2016, 08:55 PM
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#5
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Registered User
Join Date: Dec 2008
Posts: 326
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I got 5/5. Keeneland pays only 25% for 4, if there are no winners. That's not it.
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10-17-2016, 09:01 PM
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#6
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NoPoints4ME
Join Date: Sep 2013
Posts: 9,854
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Quote:
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Originally Posted by SkunkApe
I hit the Pick 5 (for 50 cents) at Keeneland on Saturday, and don't understand this ticket.
The payoff, per Keeneland's "results" page should have been $8360.60.
8360.00 shows on the ticket as taxable. Close enough, but where's the $0.60 difference? I received 6443.30 in cash.
Where does the $9034.30 come from?
ticket |
$67.35 for each conso ticket.
4/5 pays at Keeneland.
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10-17-2016, 09:02 PM
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#7
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Registered User
Join Date: Dec 2008
Posts: 326
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I'm still confused.
Why are there any conso tickets if there was a winner?
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10-17-2016, 09:05 PM
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#8
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NoPoints4ME
Join Date: Sep 2013
Posts: 9,854
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Quote:
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Originally Posted by SkunkApe
I'm still confused.
Why are there any conso tickets if there was a winner?
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Ok, so I don't agree with the conso but they have it in place.
It really rewards (in a way) the people who hit their ticket and hurts them (by taking some of their pick 5 winnings and giving it to Pick 5 losers)
Let's say the pick 5 came in : 1 1 1 1 1
And I bet
123/123/123/123/123
I get 10 conso tickets at $67 and change each. You had 10 tickets that hit 4/5.
Make believe you bet all your combos seperately and you'll see it clearler.
For those poor people who MISSED the pick 5, they get a meager $67 bucks for each horse they had in their losing leg.
I don't agree with it as 25% of the pool is taken away to pay maybe 5% of the pool to those who lost but it is what it is.
Think of it as GRAVY BABY and CONGRATULATIONS  
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10-17-2016, 09:07 PM
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#9
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Registered User
Join Date: Dec 2008
Posts: 326
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Thanks.
I will ponder this.
I am troubled by this:
"If there are no tickets with five winners, all ticket holders with the greatest number of winners share in 25% of the daily net pool, with the remainder of the net pool carried over to the next racing day. There is a mandatory payout of the entire net pool on the last day of the race meet."
From here:
https://www.keeneland.com/racing/payout-rules
(Not that I'm complaining.)
Last edited by SkunkApe; 10-17-2016 at 09:08 PM.
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10-17-2016, 09:11 PM
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#10
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Registered User
Join Date: Dec 2008
Posts: 326
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And is the $67 fixed?
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10-17-2016, 09:12 PM
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#11
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Registered User
Join Date: Jul 2007
Location: Saratoga, NY
Posts: 393
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1 50c Pk5 5 of 5 at $8,360.80 = $8,360.80
10 50c Pk 4 of 5 at $67.35 each = $673.50
Total = $9,034.30
Keeneland pays 25% to 4 out of 5 each day, but its 25% of that days pool only not 25% of total pool if there's not a carryover. It's not worded clearly on Keeneland website. It's worded the same way under Pick 6 but they always payout 5 of 6 too.
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10-17-2016, 09:14 PM
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#12
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Registered User
Join Date: Jul 2015
Posts: 877
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Conso payouts are determined by pool size and number of conso tickets being paid off, so its not fixed.
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10-17-2016, 09:19 PM
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#13
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Registered User
Join Date: Dec 2008
Posts: 326
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OK, got it.
Thanks, guys.
Sorry for my slow-wittedness. There was moderate to heavy drinking involved.
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10-17-2016, 09:21 PM
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#14
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NoPoints4ME
Join Date: Sep 2013
Posts: 9,854
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Quote:
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Originally Posted by SkunkApe
Thanks.
I will ponder this.
I am troubled by this:
"If there are no tickets with five winners, all ticket holders with the greatest number of winners share in 25% of the daily net pool, with the remainder of the net pool carried over to the next racing day. There is a mandatory payout of the entire net pool on the last day of the race meet."
From here:
https://www.keeneland.com/racing/payout-rules
(Not that I'm complaining.) |
100,000 is bet. MInus takeout (guessing 15%) is $85,000
3/4 of $85K is $63,750
That is divied out to the pick 5 winners.
1/4 of $85K is $21,250.
All 4/5 tickets get a piece of $21,250.
On days no one hits the pick 5, 25% goes back to 4/5 tickets, the rest to the C/O.
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10-17-2016, 09:25 PM
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#15
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Registered User
Join Date: Jul 2015
Posts: 877
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As an aside, I swear I have seen a skunk ape in Florida. Scariest damn encounter I have ever had
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