By Jim Freer and Barry Unterbrink
Gulfstream Park will have a guarantee of $1 million on on its Late Pick 4 and guarantees of $750,000 on its Late Pick 5 and Rainbow 6 on Saturday.
If the Rainbow 6 does not have the jackpot payoff requirement of just one ticket with all six winners, Gulfstream on Sunday will have a mandatory payout of the jackpot–no matter the number of tickets with all six winners (details below).
All of Saturday’s guarantees will be on sequences that will end with the 12th race–the $9 million Pegasus World Cup Invitational (Grade 1) with scheduled post of 5:36 p.m.
If any of the three pools do not reach the guarantee, Gulfstream will put in money to make up the shortfall.
However, Gulfstream history on major race days indicates that bettors will wager considerably more money than the guarantees.
Here is the schedule for Saturday’s late multi-race bets:
*Late Pick 4 — 50 cent minimum per combination bet with 20 percent takeout and no consolation payouts. On Saturday it starts on the ninth race, with scheduled post of 3:38 p.m.
*Late Pick 5–50 cent minimum per combination bet with 15 percent takeout. There is a four-of-five consolation payout. On Saturday it starts on the eighth race with scheduled post of 3:05 p.m.
*Rainbow 6 — 2o-cents per combination only, with no consolation payouts and 20 percent takeout.
On Saturday, it is on races seven to twelve, all of which are graded stakes.
The sequence is scheduled to begin at 2:33 p.m.
The carryover going into Saturday is $606,194.
It has been growing because Gulfstream has gone ten straight race days without the jackpot payoff requirement of just one ticket with the winners of all six Rainbow 6 races.
The jackpot is comprised of the entire Rainbow 6 carryover plus 80 percent of the day’s new Rainbow 6 bets (20 percent takeout).
On days with multiple winning tickets Gulfstream takes out 20 percent of the day’s new Rainbow 6 bets, divides 56 percent among tickets with the most winners (usually six) and adds 24 percent to the carryover.
On Friday, $277,759 was bet on the Rainbow 6. There were 160 tickets with all six winners. Each was paid $973.46 on the 20 cent bet.
It is likely that between $600,000 and $1 million will be bet on the Rainbow 6 on Saturday.
If the jackpot is not hit, the carryover for Sunday will probably be at least $800,000.
And as Gulfstream’s TV analysts like to say “It all must go.”