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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