Goofy bet at Portland Meadows

[EMD4ME]

Equibase says a ticket got $38,000 for it today.

NYRA Rewards says $100,000 for the sole winner, minus 22% vig, $78,000.


I had the 4 to close, who lost a tough race by a head, well clear by 7 in the last race. I hate the fact that they did not state the will pays before the race.

Did I lose $100,000 by a head OR did the person who had the winner also have the 4 (which then eliminates the jackpot provision, which then makes my loss only $5500)???

Why can't this industry have transparency????

[EMD4ME]

EB is saying that there was a carryover of $20,274 into today's card.

22,621 was bet today. Minus 22% vig, $17,645 was the net pool for today.

$20,274 CO plus $17,645 is how they got to $37,919 as a payout.

Which seems WRONG to me as 1 ticket was sold.

NYRA has $78,000 for .20 cents ($100,000 minus 22% vig).

How is this industry so BLANKETY BLANK incompetent?

How can results be different on 2 different carriers???????????????????????????

[davew]

here is some stuff from XpressBet (part of the Stronach empire)

$100,000 Jackpot Guaranteed $0.20 Rainbow Pick 6 (Races 10-15)
$0.20 Pick-6 (8/8/7/2/4/5) Paid $78,000.00 (6OF6)

Pick-6 22,621 bet today


they stopped posting will-pays because of what happened a few years ago at Gulfstream ->

someone placed bets early from Chicago one day - before scratches known.
there were a couple high pay-out winners in middle
only 4 horses covered in last race to win everything
the winner was one of those 4

but alas, the winner was the favorite and got a scratched horse that was not accounted for

so there were 2 winning pick 6 tickets and RAINBOW was not hit


I am not sure about you, but I would have found as much spare cash as possible to cover the field if I had 4 live tickets for a big score.
And if I did not get that big score - I would have found a lawyer to go after those 'probable pay-offs and whatever group released them'.


I have watched a couple of those 2F races - it is odd watching semi-retired thoroughbreds running a quarterhorse race.

[EMD4ME]

Thank you.....

Looks like someone made a nice $73,000 off my error (would've paid $5,000 if I didn't make my "distracted" boo boo).

Any chance they send me $10,000 ?

Oh well, I hope they continue the $100K guaranty for next week. After losing money on this experiment, they might pull the plug !

Hope they had insurance on the guaranty.

[EMD4ME]

DRF adds to the ANNOYANCE. Says it paid $37,919 as well as Equibase. I'm assuming they are just using Equibase's info of course, so Equibase should be blamed for it.

I'm stupified. HOW does Equibase make a mistake like this???

In order for anyone to come up with $37,919, a lot of math is involved. What.......is someone at Equibase taking the CO, adding in today's pool, backing out vig and then adding it up??????

Why isn't is as simple as this.....? Track sends out payout, every ADW and Equibase all post it.

Is that too much to ask????

[Mandrake]

Does anyone ever remember another guaranteed bet not making the guaranteed amount? This is the first one I've seen. They might guarantee some amount again but if it is 100K then they are nuts.

[HorsemenHeist]

Safe to say, this blew up in Portland Meadows face.

But the question I have is, if the pick 6 is guaranteed at $100k, that implies that if the jackpot is hit, you win $100,000. Why is the winning ticket only getting $78,000 and not the full $100k? I thought they took the takeout off the money actually bet, and not the guarantee. I always thought a $100k guarantee bet at Portland was bogus.

So, Portland gets the 22% vig from the $76,000 NOT bet but paid out and they keep the takeout of the $24,000 or so bet in the pool. That doesn't seem right to me.

[Mandrake]

I also wondered what would be the premium one would have to pay for some company to underwrite a policy that would cover the 100K. 15 thousand? So that would also have to be taken into account to make a profit.

[jballscalls]

Talked to a buddy at Pm. Said one guy from NY had it on a 7,000 ticket. Guy had about 1/3 of the pool yesterday.

Equibase screwed up the chart payouts. As far as the payout you'd have to consult PM or the rules for why it's 78k and not 100.

[ultracapper]

Any chance this "product" could have been, what they call in the retail industry, a loss leader? Was there any increase in handle in the traditional pools throughout the day?

[lamboguy]

Originally Posted by HorsemenHeist

Safe to say, this blew up in Portland Meadows face.

But the question I have is, if the pick 6 is guaranteed at $100k, that implies that if the jackpot is hit, you win $100,000. Why is the winning ticket only getting $78,000 and not the full $100k? I thought they took the takeout off the money actually bet, and not the guarantee. I always thought a $100k guarantee bet at Portland was bogus.

So, Portland gets the 22% vig from the $76,000 NOT bet but paid out and they keep the takeout of the $24,000 or so bet in the pool. That doesn't seem right to me.

whats the part that doesn't seem right? do you think that the state doesn't get their end of the money? or the adw that accepted the wager's?

[HorsemenHeist]

Why advertise $100,000 guaranteed when if someone actually hits the jackpot, they only get $78,000?

Carryover going in was $20,274. The pool for the day was $22,622. After the 22% takeout, $17,642 would be available for the jackpot winner. The jackpot winner on a normal day would win $37,916, but because of the guarantee, won $100,000.

The track has already taken out the amount on what was wagered (roughly $5,000). Why does the track get to take out an additional $17,023 that never entered the pool?

Which leads me to the question why the $100k guaranteed was even offered as such if the only way you can actually win $100,000 is to win the pick six for the pool about $129,000, which wouldn't even happen on a mandatory payoff day?

[Mandrake]

If you go to their website it says 100,000 guaranteed, but it also says 22% takeout. Not 22% takeout of only what was bet. So by the letter of their rules 78,000 is correct.

[v j stauffer]

Originally Posted by Mandrake

Does anyone ever remember another guaranteed bet not making the guaranteed amount? This is the first one I've seen. They might guarantee some amount again but if it is 100K then they are nuts.

We had it happen at Hollywood Park once. About 30k short even after a VERY long drawn out post parade.

Management put together a huge ticket. They asked me my opinion in a couple races. 24K I think. It didn't hit. Pool still was a few dollars short of the $1 Million after the race.

HP made up the difference so it was EXACTLY $1 Million

Payoffs made it clear that's what they'd done.

Just guessing at the actual totals but.

6 paid EXACTLY $6800

5 paid exactly $360

The take was EXACTLY $240,000

[tanner12oz]

Originally Posted by Mandrake

Does anyone ever remember another guaranteed bet not making the guaranteed amount? This is the first one I've seen. They might guarantee some amount again but if it is 100K then they are nuts.

woodbine had a pick 6 years ago that had alot of trouble