Friday, February 26, 2016

Rainbow 6 Carryover at $1.9 Million for Fountain Day

 Gulfstream Park will have a carryover of almost $1.9 million on its Rainbow 6 on Saturday, when the multi-race bet could attract an additional $1 million on the Fountain of Youth day card.

A total pool of $3 million would be among the five largest in the six-year history of the Rainbow 6.  It is a 20 cent per combination only bet.

Saturday's Rainbow 6 is on races 8 through 13. Scheduled post for the 8th race is 3:25 p.m.  The Fountain of Youth (Grade 2) is the 12th race with  5:30 p.m. as scheduled post.

The precise carryover for Saturday is $1,890,318.  That number keeps growing because Friday was the 33rd straight day without the "jackpot winning requirement" of  just one ticket with all six Rainbow 6 winners.

Each multiple winner received $409.10. By our calculation (formula below) there were  551 of them.

Gulfstream came into Friday with a Rainbow 6 carryover of $1,793,477.  Bettors added $403,627.

After the 20 percent takeout, Gulfstream divided 56 percent of the day's pool among the winning tickets and added 24 percent ($96,841) to the carryover.

The payout was relatively low (a non-IRS event) because it was a chalky day. All six winners were at 5-1 or lower, and four were lower than 2-1.

All-sources handle for Friday's 11 races was $9,194,266--the highest yet for a Friday in the current  meet.

How It Works

The Rainbow 6 is a 20-cent per combination only bet. with multiple horses permitted in each race. For example, a ticket with two horses in each race has 64 combinations and costs $12.80.
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.


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