TIF | Horse Racing Free Tips

From the TIF: “Unscratched” Horse Second at Mountaineer

by the Thoroughbred Idea Foundation

In an unusual incident on Tuesday, Sept. 6, a horse reported to betting outlets as a scratch for 40 minutes prior to the start of a pick four sequence at Mountaineer Park was later unscratched after betting was closed and allowed to race.

Remarkably, all pick four bets placed were paid to the actual results.

“There are some similarities to the Modern Games (Ire) incident from last year's Breeders' Cup,” said TIF Executive Director Patrick Cummings, “and it proves that wagering rules are in desperate need of an update for the protection of customers.”

Click here to read the rest of this piece from the Thoroughbred Idea Foundation.

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From the TIF: Cross Country Pick 5 Past Posting Exposes Tote Insecurities

“One of the most urgent issues facing our industry is that of improved electronic security for the pari-mutuel wagering system.”

This simple declaration was part of the National Thoroughbred Racing Association (NTRA)'s five-year strategic plan covering 2006 through 2010, and published in 2005.

Approaching two decades later, there has been little progress on the topic, and recent wagering incidents in the summer of 2022 highlight the long-term failure to address these problems.

If you think the stewards are always in charge of stopping wagering when the race begins, think again. A new revelation suggests that primary control of some bet types resided exclusively in the hands of a single, off-site tote company employee, potentially in violation of wagering rules in numerous states while also exposing a staggering vulnerability.

Click here to read the rest of this piece from the Thoroughbred Idea Foundation.

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From the TIF: New York Wagering Rules Ignored in Saratoga Pick 5 Fiasco

by the Thoroughbred Idea Foundation

The rule seems clear.

What is also clear is that the rule, as written, was ignored on Thursday, July 21 at Saratoga, though by which party is unknown at present.

“On behalf of aggrieved horseplayers who were impacted by the decision last Thursday, and all future players of multi-race bets in New York, we felt it necessary to seek clarification from the New York State Gaming Commission about the rules, why a seemingly arbitrary decision was made in the sequence and what customer expectations should be going forward in similar cases,” said TIF Executive Director Patrick Cummings.

Contacted on Monday morning, the Commission has yet to reply.

“Customers expect operators and regulators will follow the wagering rules as written,” said professional horseplayer and author Mike Maloney. “Horseplayers' confidence is paramount and there is little doubt that some of that was lost as a result of this incident.”

Horseplayer Eric Bialek, a final table participant in the 2020 National Horseplayers' Championship, was incredulous after the announcement.

“It defies every expectation of horseplayers for a race that was run a half hour earlier to subsequently be declared an all-win,” Bialek said. “Without a proper explanation from either the state or NYRA, speculation is all we have and that's incredibly insufficient.”

For the full story, please click here.

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Penny Breakage to Begin On Kentucky Races July 15

From the Thoroughbred Idea Foundation

Bettors wagering on racing from Kentucky will enjoy returns paid to the penny beginning Friday, July 15. The Kentucky Horse Racing Commission confirmed to the Thoroughbred Idea Foundation (TIF) the shift will take effect this week, three months after legislation enabling the change to penny breakage was passed by the Kentucky General Assembly and signed into law.

“This is a welcome and long overdue shift in pari-mutuel wagering to pay bettors the entirety of their duly deserved winnings,” said Patrick Cummings, TIF's Executive Director. “Kentucky is leading the way, and if a horseplayer wants to enjoy the entirety of a winning dividend, they should be betting on races run in Kentucky. This will be the first time in American history a racing jurisdiction is requiring payment to the penny for all wagers and we hope it will not be the last. This should put more money in the hands and accounts of horseplayers and inspire additional churn, something everyone across the sport should seek, yet remarkably eludes us as churn-killing super exotic bets and jackpot bets have expanded. We are incredibly thankful for the efforts of Kentucky Representative Adam Koenig, bill co-sponsor Representative Al Gentry and Senator Damon Thayer for their support over the years to bring this topic to the fore. They continue to look out for the best interests of horseplayers and the greater sport.”

For the modern history of pari-mutuel wagering in American racing, winning dividends have generally been rounded to the lowest 10-cent unit, with limited exceptions. Going forward, the dividend is rounded to the lowest penny.

Until now, if the unbroken return on a show bet was $1.4854928, the return for every $1 unit was rounded down to $1.40. A $2 bet returned $2.80.

Beginning Friday, in the above example a winning bettor would receive $1.48 for every $1. A $2 bet in this example would return $2.96, a meaningful increase in the profit returned to customers.

The campaign to bring penny breakage to horseplayers was the topic of the first white paper in TIF history. It can be reviewed by clicking here.

“This effort would not have been possible without the tireless support of TIF Founder and Glen Hill Farm President & CEO Craig Bernick, who has been so remarkably driven to improve American horse racing for its voluntary financial participants–horseplayers and horse owners,” Cummings said. “If we make the sport better for them, the benefits trickle to every corner of the industry.”

An estimated $35 million was collected and retained as breakage from Kentucky races over the last five, full fiscal years. Under the new law, nearly all of that money would go back to winning bettors.

“Breaking to the penny will put millions of dollars back into the hands of horseplayers each year, wherever they are betting on Kentucky racing,” Cummings added. “Until other states make the change, Kentucky will have the advantage.”

Kentucky tracks and horsemen split on-track breakage in the past, while off-track bets and ADW bets saw breakage retained by the respective bet-taker. Going forward, all bettors of races run in Kentucky will enjoy a full winning dividend rounded to the penny. Sub-penny breakage will still be retained.

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