By Jim Freer and Barry Unterbrink
When Gulfstream Park resumes its spring meet on Thursday By it will have a 48-day old carryover of $2,544,245 on its Rainbow 6.
And with just eight race days left in that meet, there are expectations that the carryover will continue and will not be “taken down” by a single ticket with the winners of all six Rainbow 6 races.
Thus, to end the carryover Gulfstream will soon announce a “mandatory payout day” on which it will pay out the carryover even if there are multiple tickets with all six winners.
As noted below, it is likely that Gulfstream will select Saturday June 29 for the mandatory payout.
First post is 1:15 p.m. for Thursday’s ten-race card.
The Rainbow 6 is on races five through ten with the sequence scheduled to start at 3:15 p.m.
The carryover is 48 racing days old. That is the number of days on which there have been multiple tickets with the winners of all six Rainbow 6 races.
Gulfstream pays out the carryover plus 80 percent of a day’s new bets on the Rainbow 6 only on days when there is just one ticket with the winners of all six races.
On Sunday, Gulfstream’s most recent race day, there were eleven tickets with all six winners. Each ticket paid $12,532.92 on the 20-cent only bet.
Bettors added $246,242 to the Rainbow 6. Per its rules on days with multiple winning tickets, Gulfstream took out 20 percent of that amount. It then divided 56 percent among the tickets with six winners and added 24 percent to the carryover,
The Gulfstream spring meet will end on Sunday June 30, and its summer meet will begin on Thursday July 4,
A Florida law requires pari-mutuels to obtain an exemption from the Florida Division of Pari-Mutuel Wagering in order to extend a carryover to a next meet.
Based on Rainbow 6 history, it is likely that Gulfstream will schedule a mandatory payout for Saturday June 29.
That is Gulfstream’s annual Summit of Speed day with five sprint stakes races.
If the carryover continues until June 29, it could be as much as $3.5 million.
In that case, we expect that between $7 million and $10 million would be bet on the Rainbow 6. And 80 percent of that money plus the entire carryover will be divided among tickets with the most winners (probably six).