Churchill Adopts Net Pool Pay-Out Pricing
Updated: Sunday, October 30, 2005 2:49 PM
(from Churchill Downs release)
Posted: Saturday, October 29, 2005 8:48 PM
Churchill Downs will adopt net pool pricing to calculate pay-outs on winning wagers during its Oct. 30-Nov. 26 fall meet.
Net pool pricing will allow participation in Churchill Downs wagering pools by racing fans in Canada and, potentially, other countries that typically have pari-mutuel takeout rates that differ from those at U.S. tracks.
The adoption of net pool price provides the potential for larger wagering pools, but prices on pools with multiple winners – such as place or show pools or pools with a dead-heat – could calculate to a slightly different pay-out than under the industry's standard pricing. Favorites that win races at Churchill Downs could pay a bit less, while long shots could pay slightly more – but the total amount of money paid out to the wagering public will not change.
Net pool pricing was adopted at Canada's Woodbine when it hosted the Breeders' Cup in 1996. Racing fans at Churchill Downs or other U.S. tracks that have wagered on simulcast races from Woodbine in recent years have already experienced the new pricing method. Arlington Park adopted net pool pricing for its 2005 meet and the calculation method was also used during the fall meet at Keeneland.
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