Friday, February 19, 2016

Gulfstream: Fast and Firm. with $1.3 Million Carryover

Gulfstream Park will have a carryover of $1,312,764.68 on its Rainbow 6 today, with prospects that bettors will add at least $400,000 to the pool.

Conditions are fast and firm, and first post is 12:35 p.m. for the 11-race program. The Rainbow 6 is on races six to 11.   Scheduled post for the sixth race is 3:05 p.m.

Following morning scratches, 60 horses are scheduled to run.

The day's last five races are scheduled for turf.  There is only a ten percent chance of rain, so it seems certain that those races will stay on the turf.

The carryover is growing because Thursday was the 27th consecutive day on which there were multiple tickets with the winners of all six races in the Rainbow 6.

On each of the last six days, betting on the Rainbow 6 has been above $600,000. 

The Rainbow 6 bet is 20-cents only per combination, with multiple horses in each race and thus multiple combinations.

Our breakdown shows there were 346 winning Rainbow 6 tickets on Thursday.  Each received $572.86.  That was not a life-changer. But it is under the $600 minimum for going to the IRS window.

Bettors poured $353,221 into the Rainbow 6 on Thursday. Per the rules for the bet it paid out 56 percent of that amount ($197,803) resulting in the $572.86 price.  All six winners were at odds of 4-1 or lower.

Gulfstream added $84,764 to the carryover, growing it to $1,312,765.

Gulfstream pays out the full Rainbow 6 pool of the day’s bets (minus the 20 percent takeout) plus the carryover only on days when there is just one ticket with all six winners.

On other days Gulfstream divides 70 percent of the day’s bets (minus the takeout) among those bettors holding tickets with the most winners, while 30 percent (minus takeout) is added to the carryover.
The most recent day with a single Rainbow 6 winner was Jan. 13, when it was hit for $76,799.38.
--Barry Unterbrink and Jim Freer 

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HorseRacing FLA staff