Santa Anita opens with a gift for pick-six bettors

[Andyc]

I beg to differ...The Pick Six is the bet with the most possible life changing impact...Add 20% to that and you are giving the patron a chance to really hit one out of the park... We need the publicity of big payouts to bring people in...

You might get an initial bump of play but when a player goes 0 for 50 they begin to lose interest. You can also go to Las Vegas and play the big slot machines that can pay millions but most of the slot players are at the machines that payback frequently. Bettors prefer a slow churn for their regular betting and an occasional shot at a lotto. If players are looking for a life changing score they would be far more apt to play the triple carryover as opposed to shooting for a non-carryover 20% bonus.

[Andyc]

If I know when that hit does come I will receive a 20% greater payoff it's a move than come hell or high water I MUST make. Anything else would simply be mathematically unsound.Goof

I understand your enthusiasm but don't try to defend making the bet based on mathematics. It doesn't compute.

I doubt that the bet will have as big an impact as you think. Perhaps initially but not on a sustained basis.

A big bettor getting rebates for betting a P-6 through their betting accounts will be better off than one who bets the P-6 on track.

[Joel]

All right member, I calling you out, how many here play the pick 6

me Personally I know of only 3 members that play it.


Well members, do you play it or not.?

Here are the members, Joel, DX and Andymays,

Again, this bet caters to a special player.

I'm not sure about the Say Hey kid, but Chris and I have put together some sizable tickets..

[Andymays]

http://www.drf.com/news/santa-anita-opens-gift-pick-six-bettors

Another thing bettors will thrive on is an innovative twist being planned for the Santa Anita pick six that would effectively reduce the takeout rate to just 3.68 percent for ontrack players. It could bring the wager storming back to popularity.

Santa Anita officials and Thoroughbred Owners of California on Friday were finalizing details of a creative idea that offers a 20 percent rebate bonus to winning ontrack pick six bettors. Takeout for the bet is 23.68 percent; the bonus drops the effective rate to 3.68.

Details have been slow to emerge, and track officials declined comment until the plan is signed, but one TOC source said, “It’s a done deal.”

As of Friday, the proposal faced legal and infrastructure hurdles; none was considered insurmountable. The concept is expected to work like this: Winning pick-six tickets purchased at Santa Anita by an “account-holder,” who must swipe an account card, would receive a 20 percent rebate bonus on non-carryover days.

For example, a $10,000 pick six winner would receive a $2,000 rebate
bonus. A $100,000 pick six winner would receive an additional $20,000.
The bonus would be offered regardless of number of winning tickets.
The plan would be funded from the California Marketing Committee and the TOC.

Track president George Haines deferred comment on the plan, which is tentatively scheduled to launch Jan. 1.

While getting a 20% bonus on a Pick 6 is certainly a good thing Brad Free is incorrect regarding the effective takeout when considering the bonus. Because the winners share of a P-6 pool is about 53.16% of the total pool the 20% bonus only reduces the effective takeout by 10.63% so the effective rate is 13.05%. Good but I won't be making any special trips to the track to bet a 13.05% takeout bet on a non-carryover day.

Agree.

[Andymays]

It's a great start. Incentivizing being on track is long overdue.

Idk how much of the pick six is handled on track, but it would be nice to see a rebate on another exotic bet, such as an exacta or trifecta. I think a rebate on either of those bets would be more beneficial, though it is probably likely that the TOC / CMC would have to pay out more.

Agree. The Exacta is the best choice for an on track bonus and maybe the double.

[Andymays]

Arron, are you really a gay bear?

This has to be one of the stupidest things they have done in awhile (and there are plethora of them).

Doesn't like 85%+ of the handle come off-track? It like saying FU to the majority of the bettors. If they want to increase on-track churn, how about a $10 admission offset by a $10 voucher? The potential increase in churn could cover whatever may be lost in admission fees to pay the sammie makers.

Whenever I hear of brilliant stuff like this, I always think what was their second choice that they passed on?

It should be 25% on track and 15% through XpressBet. That still gives people an incentive to go to the track and gets the pools up through XpressBet. The goal should be to get close to 200k in the pool so if there is a carryover it is at least 100k. That still might happen but I have a feeling that if XBet does it the bonus will be 10%.

Paying an on track bonus is good but it should be extended to the exactas and doubles since those takeout rates are way out of line with other major jurisdictions. Maybe something in the 5% to 10% range.

[Claimboxx]

I beg to differ...The Pick Six is the bet with the most possible life changing impact...Add 20% to that and you are giving the patron a chance to really hit one out of the park... We need the publicity of big payouts to bring people in...

You might get an initial bump of play but when a player goes 0 for 50 they begin to lose interest. You can also go to Las Vegas and play the big slot machines that can pay millions but most of the slot players are at the machines that payback frequently. Bettors prefer a slow churn for their regular betting and an occasional shot at a lotto. If players are looking for a life changing score they would be far more apt to play the triple carryover as opposed to shooting for a non-carryover 20% bonus.

Andy, you make it seem as thought hitting a Pick Six is as difficult as playing and hitting one of those big slots..it isn't at all... Obviously you aren't going to hit a Pick Six everyday, and players will hit many rough patches along the way, but there are days where the Pick SIx sequence unfolds right and you can hit a really good payoff that is not far fetched...Add a 20% bonus and it makes it that much sweeter...

[Igeteven]

Lester. I think you are way off base when you say only a very small percentage of players play the pick six. I think almost everyone does at some point and carryovers are a certain incentive.

As for the bonus on winning tickets. IMO it's a HUGE deal that will be a rousing success.

As a former pick 6 player I'll say it's like no other wager. Whenever we go to the window to play any type of wager we have an immediate expectation of winning. Good handicappers although realistic expect to hit every bet they make. Except for the pick 6.

I knew when playing that wager in all likelihood I would lose way way more days than I won. As Boxx correctly pointed out, this is a wager that is designed to make a huge score. A hit that if cashed let's say once in 25 times the payout will eclipse in one fell swoop all the loses for the other 24 torn up tickets.

If I know when that hit does come I will receive a 20% greater payoff it's a move than come hell or high water I MUST make. Anything else would simply be mathematically unsound.

Players that get it. Great ones do. Will for a fact whenever logistically possible make these plays on track. Rare is an idea a total win-win for all concerned. This one is.

Goof

Goof, I can accept that, thanks

To me, HP was a gold mine for the Pick 5 and I hit a few good one's, I love HP for starting this and keep it going.


I guess we all have our own thing at the race track.

Merry Christmas.

Lester

[Andyc]

Andy, you make it seem as thought hitting a Pick Six is as difficult as playing and hitting one of those big slots..it isn't at all... Obviously you aren't going to hit a Pick Six everyday, and players will hit many rough patches along the way, but there are days where the Pick SIx sequence unfolds right and you can hit a really good payoff that is not far fetched...Add a 20% bonus and it makes it that much sweeter...

Statistically the chances of the P-6 sequence unfolding just right for a player with a small ticket is astronomical. While there are great stories of how people have bet small tickets and won big payoffs the reality is that people who bet small P-6 tickets will lose enthusiasm as their losing streaks mount. And if they do win they really don't hit many of the really good payoffs. Another downside would be that some players might be taking some of their betting money away from W-P-S, DDs, Exactas, etc and putting it into the P-6. The result might be far less churn for the track.

The track should put the bonuses where they would help the most amount of players.

[Claimboxx]

Andy, you make it seem as thought hitting a Pick Six is as difficult as playing and hitting one of those big slots..it isn't at all... Obviously you aren't going to hit a Pick Six everyday, and players will hit many rough patches along the way, but there are days where the Pick SIx sequence unfolds right and you can hit a really good payoff that is not far fetched...Add a 20% bonus and it makes it that much sweeter...

Statistically the chances of the P-6 sequence unfolding just right for a player with a small ticket is astronomical. While there are great stories of how people have bet small tickets and won big payoffs the reality is that people who bet small P-6 tickets will lose enthusiasm as their losing streaks mount. And if they do win they really don't hit many of the really good payoffs. Another downside would be that some players might be taking some of their betting money away from W-P-S, DDs, Exactas, etc and putting it into the P-6. The result might be far less churn for the track.

The track should put the bonuses where they would help the most amount of players.

I vehemently disagree Andy... If you get a 20% bonus on an exacta play of the day, how much can you really win? So if someone hits an exacta and gets a 20% bonus, is that going to make a big difference? IS it going to change their lives? Hitting a Pick Six, even if it pays $5-10K, a 20% bonus is an extra $1 - 2K...That means something...