The 20-cent Pick-8 wager at The Meadowlands has started to build its identity as a parimutuel puzzle that was made for the carryover crowd.
In fact, the last two times the bet yielded a ticket or tickets with eight correct selections, it came after a triple carryover on both Nov. 4 and Nov. 18 that yielded payouts of $3,975.10 and $12,079.00, respectively.
Since the inception of the Pick-8 on Oct. 20, the biggest pool has totaled $12,295, with one winning shrewd player walking off with the payout of over $12,000 at the conclusion of the sequence.
The anticipated pool for this Friday (Dec. 15) will crush the previous best because it is nearly three times the size already. The current number of race cards when the P8 has gone unhit is five. The carryover heading into Friday's program is $35,785.74, which sets up some very interesting possibilities.
“The record Pick-8 carryover creates what figures to be an enormous negative takeout advantage for our players,” said Meadowlands' Chief Operating Officer and General Manager Jason Settlemoir. “Carryover mania will hit another fever pitch on Friday night. The Pick-8 is a non-jackpot wager, offered on races four through 11. A minimum bet of 20 cents allows everyone the chance to play, and a low takeout of 15 percent creates the perfect storm for a negative takeout, which creates an enormous edge for our players.”
Take last Saturday (Dec. 9), for example.
A carryover of $22,581 sparked enough interest in players to wager $20,740 in “new money”. Only the new money is subject to the low takeout, which left $17,629. When you add the carryover, you get a grand total of $40,210. So, the return to the winning players – had there been any – would have been an unbelievable 194 percent for a wager that normally returns 85.
“Low takeouts are a big component in making these dream scenarios for horseplayers possible,” said Settlemoir. “Add in full, competitive fields, and the chances for making a score increase tremendously.
“Thanks to our loyal horseplayers, big pools have been the norm this year. Going into the final three weekends of 2023, the average nightly handle this season is north of the $3-million plateau. None of this is possible without the support of horseplayers around the world, and we want to thank each and every one of them.”
If $35,000 in new money is pushed through the windows on the Pick-8, that would create a total pool of approximately $65,000, which computes a return to the players of 182 percent.
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