By Jim Freer
Gulfstream Park will have its long-awaited mandatory payout on its Rainbow 6 today, with track officials estimating that the pool will swell to $15 million or more.
First post is 12:35 p.m. for the 12-race card. The Rainbow 6 is on races seven (scheduled post) 3:35 p.m. through 12. We will be on-site with coverage on our blog.
Today’s co-feature stakes races are both one mile on turf with $75,000 purses.
The Cutler Bay (5th race) is for 3-YO males. The Sanibel Island (11th race) is for 3-YO fillies.
The Rainbow 6 is a 20-cent only per combination bet, with multiple horses permitted in each race.
For example a ticket with two horses in each race has 64 combinations and costs $12.80.
The Rainbow 6 carryover going in is $4,503,332. Gulfstream officials expect that at least $10 million will be bet on the Rainbow 6 today.
Here’s why it is a special attraction today, and why dozens or even hundreds of bettors and betting teams could share in the payout.
There is a 20 percent takeout on the Rainbow 6. The remaining 80 percent of today’s bet plus all of the $4.5 million carryover will be divided among all tickets with the most winners in the Rainbow 6 races. Today, as on most days, it is expected that there will be tickets with winners in all six races.
Here’s why the carryover has become $4.5 million—topped only by a $6.4 million carryover on the Rainbow 6 in May 2014.
Gulfstream usually pays out the carryover and day’s bet only on days when there is just one ticket with all six winners.
On other days, it takes out 20 percent, divides 56 percent of the day’s bet among tickets with the most winners and puts 24 percent into the carryover.
There have been 52 consecutive such “other days,” and thus the growing carryover.
The record pool for a Pick 6 is $10,870,852.60, reached July 2, 2007 at Hollywood Park in Inglewood, Calif. Like most Pick 6 bets, that was $2 minimum per combination. There were 13 winners, each getting $576,064.40.
Despite the big difference in bet sizes, Gulfstream’s total could surpass Hollywood’s because of volume of bets.
With 20-cents only, the number of combinations is vast and many teams have been setting aside cash for today.
Meanwhile, betting on the Rainbow 6 has averaged over $600,000 over the past ten race days as some betting teams made unsuccessful attempts—banking on long shots—to put together a lone ticket with all six winners and thus take down the jackpot.
On today’s card, conditions are fast and firm.
Five of the Rainbow 6 races are scheduled for turf. There is only a 10 percent chance of rain today in the Hallandale Beach area.
Following this morning’s scratches, there are 70 runners still listed for the Rainbow 6 races.
