The New York Racing Association revamped its Pick 6 wager for Belmont Park’s upcoming Spring/Summer Meet, returning to their traditional format.
When Belmont Park’s Spring/Summer Meet begins on April 22, horseplayers will ride back to the future with a $1 Pick 6 featuring a 15% takeout. That takeout comes on non-carryover days. On carryover days, the takeout will jump to 24%.
The move is an attempt to create more carryovers, which became rare under the Empire 6 format. NYRA unveiled the jackpot-style Empire 6 at Saratoga in August 2019. A jackpot Pick 6 pays the entire pool only if a single bettor hits all six races. Before that, the NYRA Pick 6 was a $2 minimum bet.
“Our community of horseplayers have expressed interest in a traditional Pick 6 wager that will provide a challenging sequence and significant payouts,†said Joe Longo, NYRA’s General Manager for Content Services, in a statement. “By raising the bet’s base minimum to $1, the Pick 6 remains an accessible multi-race wager for players of varying bankrolls while maintaining the possibility of a lucrative carryover day.â€
Pick 6 carryovers will increase
This brings the Pick 6 back to paying out 75% of the full pool – minus takeout – to all bettors nailing the winners of all six designated races. The remaining 25% goes into a consolation pool for horseplayers picking 5-of-6 winners. Should nobody pick six winners, that 75% carries over into the next day’s pool The remaining 25% goes to bettors picking the most winners on that day’s card.
The new Pick 6 is available only to onsite bettors or simulcast center bettors. It’s not available on computer-assisted wagers.
Meanwhile, Canterbury Park in Minnesota brought back its 10% takeout, 50-cent Pick 5, and added a 10% takeout, $1 Pick 6 to its wagering menu. That takeout figure is an industry-low for the multi-race wagers.
A pandemic remedy proved very popular
Like the NYRA, Canterbury officials junked the jackpot format they introduced in 2017. The suburban Minneapolis track returned to the traditional Pick 5 and Pick 6 formats that pay out the full pool, less takeout, to bettors hitting all five or all six winners of the designated races.
Canterbury instituted the rock bottom Pick 5 takeout as a way to overcome the COVID-19 pandemic. Even with only 53 days of racing, compared to 66 in 2019, the Pick 5 averaged $79,500 in daily wagers per pool. It brought in more than $4.1 million in handle throughout the meet.
Both numbers shattered 2019’s marks of $8,366 in daily average, and season-totals of a tick more than $550,000. The average Pick 5 handle increased nearly 850%.
Jackpot Pick 6 bets hammer the horseplayer
“I believe the Pick 6 with this low takeout will appeal both to customers that favor a more traditional pick 6 wager, and those that are looking for reduced takeout wagers,†Canterbury track analyst Brian Arrigoni said in a statement. “Moving away from jackpot bets is good for the horseplayer and will bring even more bettors into our pools.â€
Canterbury’s season begins on May 18, with cards running on Sundays, Tuesdays, Wednesdays, and Thursdays.