How I would change the Rainbow 6 part deux

[Andyc]

My goal in suggesting changes to the Rainbow 6 is to make the bet more fair to all players and to engage the players who are currently avoiding the bet altogether. By changing the takeout rate and carryover rate I believe those goals would be met.

From the track's standpoint the biggest problem with the bet is the time period necessary for accumulating a carryover large enough to interest bettors. To that end I would suggest the following: Guarantee a pool to the bettors on the very first day that would be the equivalent of $250,000 for those who pick 6. That would mean that with a $250,000 pool the winners for the day would get 48% or $120,000 to divide. This would be true even if only $150,000 was bet. This would insure that the bettors would have a meaningful amount to play for and would not shun the bet do to low pool size. What the tracks wouldn't guarantee would be the carryover amount. So if there was only $200,000 bet for the day the carryover would be $40,000. Subtracting the takeout of 20% (Gulfstream) $40,000 and the guaranteed payout to the P-6 winners of $120,000 it would leave $40,000 for the carryover. Normally if there was a pool of $200,000 the carryover would be $64,000 and the winners would get $96,000.

By guaranteeing the pools early in the process the carryovers will grow much faster and the "players" will, begin playing much sooner and the tracks will make far more money.

[Andymays]

My goal in suggesting changes to the Rainbow 6 is to make the bet more fair to all players and to engage the players who are currently avoiding the bet altogether. By changing the takeout rate and carryover rate I believe those goals would be met.

From the track's standpoint the biggest problem with the bet is the time period necessary for accumulating a carryover large enough to interest bettors. To that end I would suggest the following: Guarantee a pool to the bettors on the very first day that would be the equivalent of $250,000 for those who pick 6. That would mean that with a $250,000 pool the winners for the day would get 48% or $120,000 to divide. This would be true even if only $150,000 was bet. This would insure that the bettors would have a meaningful amount to play for and would not shun the bet do to low pool size. What the tracks wouldn't guarantee would be the carryover amount. So if there was only $200,000 bet for the day the carryover would be $40,000. Subtracting the takeout of 20% (Gulfstream) $40,000 and the guaranteed payout to the P-6 winners of $120,000 it would leave $40,000 for the carryover. Normally if there was a pool of $200,000 the carryover would be $64,000 and the winners would get $96,000.

By guaranteeing the pools early in the process the carryovers will grow much faster and the "players" will, begin playing much sooner and the tracks will make far more money.

I'm for anything that improves the value to the Customers. You have my vote.

[Reallyquiet]

I was so against this bet,then I hit it.However,upon further reflection,I think this bet stands alone uniquely and needs no change.
It worksand is safegarded on several levels.It encourages long shot plays,yet discourages syndicates.It is truly a bet of the average player.Nearly every day the payout matches or exceeds the "10 cent win parlay" of all 6 races.That is all I want or need from a bet .
Only tracks that have viable field sizes (Gulf,Keenland,Saratoga etc),with usually much turf racing can make this wager possible.
I spend a lot of time in the AC Casinos.I see people waiting a long time to throw their money into one of those progressive jackpot slot machines.People want the allure of hitting it big,with the additional possibilty of hitting a smaller pot along the way.This is the kind of bet that can attract novices to the sport.

[Andyc]

I was so against this bet,then I hit it.However,upon further reflection,I think this bet stands alone uniquely and needs no change.
It worksand is safegarded on several levels.It encourages long shot plays,yet discourages syndicates.It is truly a bet of the average player.Nearly every day the payout matches or exceeds the "10 cent win parlay" of all 6 races.That is all I want or need from a bet .
Only tracks that have viable field sizes (Gulf,Keenland,Saratoga etc),with usually much turf racing can make this wager possible.
I spend a lot of time in the AC Casinos.I see people waiting a long time to throw their money into one of those progressive jackpot slot machines.People want the allure of hitting it big,with the additional possibilty of hitting a smaller pot along the way.This is the kind of bet that can attract novices to the sport.

What discourages syndicates is the 1 winner concept. I guess if you are satisfied with splitting 48% of the pot there really would be no reason for a track to offer you 75% of the pool.

This is the kind of bet that will attract lottery type players. See http://www.huffingtonpost.com/2011/02/0 ... 18978.html

An educated gambler will avoid racing if this is their marquee bet. Racing for many players is a cerebral game where you spend hours figuring out the daily puzzles and then bet on how good your ability was in figuring the puzzles.

A P-6 should beat a parlay simply because of the compounding of takeouts. The win takeout at GP is 17%. Do that 6 times and it amounts to a pretty big number.