Joe Longo | Horse Racing Free Tips

Between The Hedges: A Closer Look At NYRA’s Empire 6 Wager

The following is the second edition of a bi-weekly series entitled Between The Hedges. The series will revolve around the business of betting focusing on trending wagering topics and statistics. Each installment will include a column penned by Joe Longo, NYRA General Manager of Content Services, examining certain areas of interest within the landscape of the thoroughbred racing industry. Upcoming topics will include a look at minus pools, post times, purse distribution and coupled entries. Send your questions for Between The Hedges to betweenthehedges@nyrainc.com.

The multitude of jackpot style wagers offered by racetracks across North America is a frequent talking point for horseplayers. NYRA's Empire 6 is no exception.

Informed horse players are sensitive to takeout. With that in mind, NYRA established a daily mandatory payout of the Empire 6 at Aqueduct Racetrack in January as part of a pilot program to further understand the benefits of the wager for both the track and player. The daily mandatory payout was recently extended through February with the pilot project expanded by offering the Empire 6 as a retail-only wager.

The Empire 6 was launched on August 7, 2019, replacing the traditional $2 Pick 6. With a $0.20 minimum and 20 percent takeout, the Empire 6 included a jackpot provision in which the full pool would be paid out only to a single ticket selecting the first-place finisher in all six races, otherwise 75 percent of the day's net pool would be distributed to those who selected the first-place finisher in the greatest number of races with the remainder added into a jackpot and carried to the next day's Empire 6.

At the time of the Empire 6 launch, the jackpot-style wager was successful at racetracks around the country and fractional base wagers were increasing in popularity. By lowering the minimum base, it would open the wager to a demographic that may have been priced out by the prohibitive cost of coverage in a $2 Pick 6. Fast forward to December 31, 2020 and the average daily handle on the Empire 6 was up almost 100% over the traditional $2 Pick 6.

The largest Empire 6 mandatory payout pool was on August 9, 2020 with $6,140,421 in new money, as a result of an 18-day carryover period that started with the first day of the Saratoga meet that grew the jackpot to $1,393,463 into the mandatory day. Several other mandatory force out days at Saratoga topped the $5 million mark.

The jackpot feature is a double-edged sword in that tracks receive a significant amount of new money wagered into the Empire 6 pool on the mandatory payout day, but it also keeps money out of circulation that could be wagered into other pools on the days leading up to the force out. NYRA has experimented with different mandatory force-out schedules ranging from over a month to every other week.

In addition, we also looked at forcing out the pool on marquee days versus regular days. On marquee days there are more eyes on the product and more people playing so the multiplier should be significant, but it does raise the concern of what effect the jackpot wager has on NYRA's other pools.

Tying up several million dollars for six races that likely include major stakes will certainly impact the pools, but will players be more likely to bet those races in different pools having handicapped them already? Or, should NYRA shift the mandatory payout to a nondescript Sunday in hope of doubling that day's handle? These are the types of questions we ask ourselves when formulating a schedule.

The Empire 6 experiment for the month of January proved to be successful.

Total handle on the Empire 6 was $1,942,010 for 18 race dates in January compared to $1,361,819 over 17 race dates in January 2020, an increase of $580,192 or 43 percent. Some of this increase was driven by the additional race day, but the daily average handle was up 35 percent.

Thus far, the pilot program has demonstrated that bettors at the Aqueduct winter meet will support a daily mandatory payout of the Empire 6.

For more information on the Empire 6, visit www.nyrabets.com.

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Between The Hedges: Inside The Cross Country Pick 5

The Cross-Country Pick 5 wagers were conceived with the idea of collaborating with other tracks to showcase the best races that the industry has to offer.

The wager also serves as an opportunity to shine the spotlight on events the larger racing public may not be aware of, like the Far Hills Races, which offers a stakes-laden card each fall highlighted by the Grade 1 Grand National Hurdle. The success of the Cross Country Pick 5 wager is not necessarily measured by pool size as much as it is by increased exposure for our partners and the good of our industry as a whole.

The Cross Country concept really picked up speed during 2018 with Cross Country Pick 4s running from February through late October. During 2018 there were 11 wagers averaging $96,852 per pool. Heading into 2019, it was clear the trend in Pick Ns [multi-race sequences] were shifting towards the Pick 5, so the decision was made to shift the Cross Country wager from a Pick 4 to a Pick 5, as well as keeping the pool retail.

Most customers were in favor of the lower takeout [15 percent] and the bigger payouts allotted by the shift to a Cross Country Pick 5 format. A total of 36 Cross Country Pick 5 pools were hosted in 2019 averaging $94,215 per pool with the largest pool boasting $250,764, when partnering with Keeneland Race Course on April 6th for an all-graded sequence anchored by a trio of Grade 1 races, including the Carter Handicap from Aqueduct and the Madison and Ashland from Keeneland. The smallest Cross Country Pick 5 pool was $17,637 held on Kentucky Derby Day in partnership with Oaklawn and Woodbine.

The Pick 5 pool continued in 2020 with the only real change being a commitment to hosting one every Saturday for the sake of consistency. Much like post times [a topic for later] and race day schedule, it is critical to the wager's success that our customers know there will be a Cross Country Pick 5 offered each and every Saturday.

In 2020, the Cross Country Pick 5 wager extended into November for the first time and was offered on each race day that month when racing from both Aqueduct and Churchill Downs was offered with the full sequence being televised on the NYRA produced America's Day at the Races broadcast.

The average pool size jumped to $124,853 over 39 pools in 2020. The largest pool of $318,478 was on June 27th in partnership with Churchill Downs and Thistledown that featured an all graded-stakes sequence which included the Grade 1 Just a Game and Grade 2 True North from Belmont along with the Grade 2 Stephen Foster and Grade 3 Regret from Churchill and the Grade 3 Ohio Derby from Thistledown.

The smallest pool was $43,843 on the rescheduled Kentucky Derby Day of September 5th, in a pool partnering with Monmouth Park, Woodbine, and Delaware Park. Not surprisingly, the two smallest pools over the past two years were on Kentucky Derby Day.

Tracks participating in the Cross Country Pick 5 in 2020 included Churchill Downs, Delaware Park, Del Mar, Ellis Park, Keeneland, Monmouth Park, Oaklawn Park, Tampa Bay Downs, Thistledown, Turfway Park, and Woodbine Racetrack. In 2019, the Cross Country Pick 5 also partnered with Charlestown, Far Hills, Finger Lakes, Lone Star Park, Parx Racing, and Penn National.

Free past performances were offered in 2020 for all broadcasted races in addition to all Cross-Country Pick 5 wagers through a partnership with Equibase. That partnership has been extended for 2021. Past performance downloads reached 11,500 per week during the peak of the racing season and certainly contributed to the 31 percent increase in daily average pool.

When constructing the wager, the first step in creation of the sequence is a review of the NYRA stakes schedule, as well as the nationwide stakes schedule. With the potential stakes races selected, I reach out to the individual tracks to see if they would be interested in participating. I work with the racing offices at each partnering track on race placement as well as post times with the ideal sequence taking under an hour from start to finish, which helps put money back into circulation and generate churn. Races are chosen based on their competitiveness, field size, surface, and race order. I try to add variety along the way with all turf sequences, five tracks, all graded stakes, and occasionally some standardbred or steeplechase races.

A lot of our customers ask why certain tracks do not participate, and the reasons vary. Some states have restrictions that in order for them to participate, they must host the pool. Other tracks, on certain days, offer pool guarantees that could be in jeopardy if their marquee races are involved in other wagers.

The Cross Country Pick 5 wager has been lucrative both due to competitive racing in a stakes-rich sequence and the fact that it is a retail-only pool. Cross Country Pick 5 payouts in 2020 ranged from $57 up to $88,940, with an average of $9,233. In 2019, the highest payout was $43,159, while the lowest return was $160, with an average payout of $8,110. The wager almost always outperformed the parlay.

For more information on the Cross Country Pick 5, visit https://www.nyra.com/aqueduct/racing/cross-country-wagers.

Send your questions for Between The Hedges to betweenthehedges@nyrainc.com.

The post Between The Hedges: Inside The Cross Country Pick 5 appeared first on Horse Racing News | Paulick Report.

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Aqueduct’s Empire 6 Wager To Offer Daily Mandatory Payout During Month Of February

The New York Racing Association, Inc. (NYRA) today announced the Empire 6 wager will continue to offer a daily mandatory payout in the month of February at Aqueduct Racetrack.

Featuring a $0.20 bet minimum and 20 percent takeout, the Empire 6 wager requires bettors to select the first-place finisher of the final six races of the card. The full pool, minus takeout, will be distributed to bettors who select the first-place finisher in the greatest number of races on the card.

NYRA established a daily mandatory payout of the Empire 6 for all 19 race dates in the month of January at Aqueduct as part of a pilot program in response to horseplayer interest in wagers that reward the daily player with the opportunity for impressive payouts.

“The extension of this pilot program will benefit horseplayers and allow NYRA to continue to analyze the Empire 6,” said Joe Longo, General Manager of NYRA Content Management Solutions. “The wager saw significant growth in January, and we thank all those watching and wagering from home for their continued support.”

Aqueduct will offer 16 racing dates in February with live racing generally conducted Thursday through Sunday, with the addition of a special Monday card on February 15 for Presidents' Day.

The Empire 6 was launched in August 2019 with a jackpot provision in which the full pool would be paid out only to a single ticket selecting the first-place finisher in all six races, otherwise 75 percent of the day's net pool would be distributed to those who selected the first-place finisher in the greatest number of races with the remainder added into a jackpot and carried to the next day's Empire 6.

For more information, please visit NYRABets.com.

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Empire 6 to Feature Daily Mandatory Payout in January

The New York Racing Association, Inc. announced the Empire 6 wager will offer a daily mandatory payout in the month of January beginning with Aqueduct’s New Year’s Day card, which is highlighted by the 151st renewal of the Jerome S., a one-turn mile for sophomores offering 10-4-2-1 Kentucky Derby qualifying points to the top-four finishers. First post on Friday’s nine-race card is 12:20 p.m. EST, with the Empire 6 set to kick off in Race 4 (1:50 p.m.)

Featuring a $0.20 bet minimum and 20% takeout, the Empire 6 wager requires bettors to select the first-place finisher of the final six races of the card. The full pool, minus takeout, will be distributed to bettors who select the first-place finisher in the greatest number of races on the card.

“Our loyal community of horseplayers has continually expressed interest and support for wagers that reward the daily player with the opportunity for impressive payouts,” said Joe Longo, NYRA Director of Simulcasting. “This pilot program is designed to be responsive to those sentiments while helping NYRA to determine the future of the Empire 6.”

Aqueduct will offer 19 racing dates in January with live racing conducted Thursday through Sunday, with the addition of a special Monday card Jan. 18 for Martin Luther King, Jr. Day.

The Empire 6 was launched in August 2019 with a jackpot provision in which the full pool would be paid out only to a single ticket selecting the first-place finisher in all six races, otherwise 75% of the day’s net pool would be distributed to those who selected the first-place finisher in the greatest number of races with the remainder added into a jackpot and carried to the next day’s Empire 6.

Thursday’s 2020 closing Big A card will feature mandatory payouts of the Empire 6, Early Pick 5 and Late Pick 5 wagers, in accordance with New York State Gaming Commission rules. The Empire 6, which has a jackpot of $183,471, begins in Race 3 at 1:46 p.m. Eastern. First post on Thursday’s eight-race card is 12:50 p.m.

For more information, visit www.NYRABets.com.

The post Empire 6 to Feature Daily Mandatory Payout in January appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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