Penny Breakage, ‘Dynamic Morning Line’ Added to Emerald Downs Lineup

Emerald Downs will offer Penny Breakage on all wagers Emerald Downs commencing with its 55-day 2024 season that begins on Saturday, May 4.

Historically, wagers were rounded down payouts to the nickel or dime which made sense when most wagers were made with cash on track. However, the change was made because of the evolution of account wagering and vouchers on track. Emerald Downs estimates that penny breakage will return approximately $400,000 in additional payouts to bettors.

Also starting in 2024, Emerald Downs will offer a “Dynamic Morning Line.” The morning line, which is typically made 4-7 days prior to race day, will now be updated using the same system and formula before each race day to reflect scratches and changes. Then, beginning in the second race each day, the line will be updated approximately 20 minutes to post time. This update will reflect wagering in closed pools such as the Daily Double, Pick 3, and Pick 4.

The updated lines will be displayed on the track's simulcast broadcast.

“There have been effects to calculate live projected payouts, but Emerald Downs will be the first to update and use the morning line in a format that can be efficiently communicated to bettors,” explained track president Phil Ziegler. “If a 5-1 morning line horse has lower will-pays than a 3-1 horse, we will update the line to reflect this wagering which should help guide bettors.”

Emerald Downs will also assist players by keeping live odds displayed until the final horse enters the gate.

Emerald Downs offers a traditional 50 cent Pick 6 each race day featuring an 8% takeout, along with a Pentafecta (Super High 5) on the final race, also with an 8% takeout. All Win, Place and Show wagers will be at 16%, Exactas and Daily Doubles at 21% and all other wagers at 23%.

The post Penny Breakage, ‘Dynamic Morning Line’ Added to Emerald Downs Lineup appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Staunch Horse Racing Supporter Damon Thayer Will Not Seek State Re-election

Kentucky State Senate Majority Floor Leader Damon Thayer, (R-Georgetown), a staunch supporter of horse racing in the Bluegrass, will not seek re-election for the 17th Senate District and allow his term to expire in December 2024, the Commonwealth of Kentucky Senate Majority Caucus said in a release early Wednesday afternoon.

“I have decided not to seek re-election to the state Senate in 2024,” Senator Thayer said. “The end of my current term next year will mark 22 years in the Senate and 12 as Majority Floor Leader. After conversations with my adult children, close friends and colleagues, I have concluded this is the right decision.”

Thayer is the longest-serving Republican Senate Majority Floor Leader in Kentucky history. The 17th Senate District, which includes Grant and Scott Counties and portions of Fayette and Kenton Counties, is within what has become known as Kentucky's Golden Triangle.

As a leading voice for Thoroughbred racing, Thayer has championed the passage of historical horse racing and last year successfully co-led the fight to dissolve penny breakage, which has already returned millions of dollars back to horseplayers.

The post Staunch Horse Racing Supporter Damon Thayer Will Not Seek State Re-election appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

More Than $1 Million in Breakage Returned to Winning Bettors Across Oaks and Derby Days

Courtesy Thoroughbred Idea Foundation

Winning horseplayers at Churchill Downs and around the world betting into the pools across Kentucky Oaks and Kentucky Derby days enjoyed more than an additional $1 million in winnings thanks to an amendment to Kentucky law which now rounds winning bets to the penny.

The practice, known as breakage, has been in effect across all of American racing, relatively unchanged, for more than a century. But Kentucky's legislature passed an amendment to existing laws in March 2022. The measure took effect in July of last year, making Saturday's Kentucky Derby won by Mage the first in modern history to pay winning bettors to the penny.

Mage returned $32.42 to win, $14.58 to place and $9.08 to show for every $2 bet.

A $100 place bet on Mage this year returned bettors an additional $9 in 2023 compared to what would have been paid to them under the old breakage calculation.

For the Derby itself, more than an additional $318,000 was paid back from just the win, place and show pools thanks to penny breakage. The total amount across all pools is even higher. Traditionally, winnings have been rounded down to the dime and that amount was retained by bet-takers, either on-track or by account wagering operators.

“This amended law puts the entirety of a winning bet back in the hands and accounts of horseplayers, where it has always belonged,” said Patrick Cummings, executive director of the Thoroughbred Idea Foundation, which first advocated for the shift to penny breakage in a 2018 white paper.

“Breakage has skimmed billions of dollars off the top of winnings that should have been paid to horseplayers. Decades ago, it might have been slightly more understandable why such a law existed, but not today, and Kentucky's legislators recognized that and made a meaningful change that will benefit those that support racing through wagering.”

Perhaps not surprisingly, total wagering on the 2023 Kentucky Oaks and Kentucky Derby days were both record highs, as was all wagering across the entirety of Derby week.

“Breaking to the penny, enabling customers to churn those additional winnings ,undoubtedly played a role, no matter how small it might seem. Kentucky's continued success should serve as an example for other states, tracks and horsemen to advocate for penny breakage, following Kentucky's lead.”

Click fo read this story on the TIF website.

The Thoroughbred Idea Foundation advocates for sustainable improvements to the Thoroughbred racing industry for all stakeholders, especially its primary customers–horseplayers and horse owners–through the exchange, curation and advocacy of sound, data-driven ideas, shared with and implemented by the sport's existing entities.

The post More Than $1 Million in Breakage Returned to Winning Bettors Across Oaks and Derby Days appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Stories I Hope To Be Writing in 2023

Another year is in the books, and it featured the usual combination of good news and bad news. Flightline (Tapit) wowed us, even if it was for just three races. The impossible victory by Rich Strike (Keen Ice) in the GI Kentucky Derby was an unforgettable moment. Then again, the Horse Racing Integrity and Safety Act went off the rails and the acrimony surrounding it turned even uglier. With more guilty pleas and sentencings during the year, we still haven't been able to fully escape the nightmare that is Servis-Navarro.

So what will 2023 bring for horse racing? Honestly, I have no idea. But here are the stories I hope to be writing in 2023. Wishful thinking? Absolutely. But you never know.

The Champion 3-Year-Old Will Race at Four: A day after 3-year-old Glow Worm (Whatasire) won the GI Breeders' Cup Classic, his owner John Q. Horseowner announced that his three-time Grade I winner will race as a 4-year-old in 2024. The news stunned the breeding and racing industries, which have grown accustomed to owners choosing breeding over racing because that's where the real money is made.

“Money, I have,” Horseowner said. “Sure, I could make many millions if I retired Glow Worm now but what would I do with it? I already have a yacht, a private jet and 11 homes. I don't need any more. What I don't have in my everyday life is the kind of thrill I get every time Glow Worm runs. That's priceless. Who knows, maybe I'll run him at five, as well.”

Movement Toward Penny Breakage Catches On: Thanks to a bill submitted by upstate New York Assemblyman George Whatagoodguy, it appears that penny breakage will be coming to the New York racetracks before the year is over. The bill enjoys bipartisan support and has the backing of Governor Kathy Hochul.

“I play the horses and I have seen firsthand what a great deal this has been in Kentucky for horseplayers since they went to penny breakage,” said the Democratic lawmaker. “It has put millions back into the pockets of the people who are the backbone of this game, the bettors. Slot machines have put hundreds of millions into the pockets of racetrack owners, horse owners, trainers, you name it…everyone but the player. Isn't it about time they get a break?”

New York could be the first of several states to go to penny breakage. Pat Cummings of the Thoroughbred Idea Foundation reports that bills similar to the one introduced by Whatagoodguy are in the works in at least four other states.

Wayne Lukas Wins Jockey Club Gold Cup on 88th Birthday: What a better a way to celebrate his 88th birthday than with a win in the GI Jockey Club Gold Cup at Saratoga. The rejuvenated Wayne Lukas pulled that off Saturday at Saratoga when winning the prestigious Gold Cup with Ageisjustanumber (Son of Into Mischief). It was Lukas's 43rd win on the year and his eighth graded stakes win. Approaching his ninetieth birthday, he is having his best year since 2005.

“I didn't forget how to train a horse,” Lukas said. “I just needed some owners to overlook my age and give me a chance with some good horses. I want to thank the 73 co-owners of Ageisjustanumber for believing in me and giving me a chance. It's on to the Breeders' Cup.”

Owner Takes Responsibility After Trainer Caught Doping: That trainer Jesse James was suspended for five years after a horse of his tested positive Friday for performance-enhancing drugs was hardly a surprise. Suspicions have surrounded James throughout a year in which he has won with 38% of his starters and with 71% of his starters coming off a claim.

But what no one expected was that his primary owner, Al Culpable, would come forward and admit he was part of the problem.

“I know what everyone expects me to say, that I thought Jesse was a good, honest, hard-working guy and that I had no idea he was cheating,” Culpable said. “If you believe that (expletive) you must also believe that I am stupid. I'm not. Did Jesse ever admit to me that he was doping my horses? No. But I knew exactly what was going on and he never could have done what he did if I didn't keep claiming horses and sending them to him.

“I have had some time to think about this and I am truly sorry. Despite what I did, I truly love this sport and I have damaged it. Shame on me. I am getting out of the game and will be donating $1,653,176 to Thoroughbred aftercare. That's the amount of money my horses earned with Jesse this year.”

New York Gaming Commission Exonerates NYRA Staffer: After NYRA clocker Henry Chroniker reported the wrong time for a workout that took place earlier this week on the Belmont training track, Chroniker worried that he was about to face a stiff fine and suspension from the New York Gaming Commission. The horse, Pie-O-My (Sopranos), worked four furlongs in :49.12.

Chroniker inadvertently transposed the numbers and reported the work as :49.21, a difference of .09 seconds. A similar offense from a clocker last year resulted in a hefty fine and a long suspension and the Gaming Commission has a history of punishing NYRA employees for what many considered to be very minor offenses. But that won't happen to Chroniker.

“We looked at this and realized it was a case of 'no harm, no foul,'” said the Gaming Commission's steward. “We realize that sometimes you have to use common sense and be reasonable when it comes to cases like this. Chroniker had worked here a long time and his record has been spotless. He deserved the benefit of the doubt. Accidents happen.”

Inspired by Beverly Park, Top Stable Vows to Race More Often: When Beverly Park (Munnings) reached the halfway point in the year with 19 starts trainer Phil Eclipseworthy took notice.

“I thought if this horse could race 30 times in a year and remain sound and productive every step of the way, why couldn't I run my horses more often?” Eclipseworthy said. “After all, wouldn't my owners make more money if their horses raced more often?”

With that in mind, Eclipseworthy has announced plans for his top colt Theydontmakeemliketheyuseto (Another Son of Into Mischief). He plans to run him in the GI Whitney, the GI Jockey Club Gold Cup and the GI Breeders' Cup Classic.

“That will be three races in four months and that's a brutal schedule,” Eclipseworthy said. “Normally, I think three starts a year, and not three in four months, is about all a horse can handle. But I like what that fella Lynn Cash has been doing with Beverly Park. He was a $5,000 claimer and now, with the way he's been handled, has made boatloads of money. I'm keeping my fingers crossed that Theydontmakeemliketheyuseto can hold up to the taxing schedule I have laid out for him.”

The post Stories I Hope To Be Writing in 2023 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

Source of original post

Verified by MonsterInsights