Many racing pundits love to knock the Rainbow 6 Jackpot concept but apparently bettors seem to like it well enough that it has been a parimutuel success that has been emulated by many other racetracks.
The 20-Cent Pick-Six jackpot style wager, which started with a 10-Cent minimum, was in part responsible for Gulfstream Park year-long handle reaching $1-billion mark for the first time in its history.
Starting Wednesday, horseplayers can add Saratoga Race Course to their list of exotic-wagering challenges.
On August 7, the New York State Gaming Commission will officially sanction the rules that apply the wager so that it can be offered for the first time in the state.
The NYRA announced that the wager will extend through the Saratoga meet but there was no mention of Belmont Park, making it reasonable to assume that the new bet, dubbed the Empire 6, is getting a trial run.
The takeout rate for the wager is a competitive 20 percent for a bet of this type, and there will be two mandatory payout days; AUG 18 and again closing-Labor Day Monday, SEP 2.
Absent one unique ticket that wins the entire jackpot , 75 percent of that day’s pool will be distributed among winning bettors with the greatest number of winners with 25 percent carried over to the next program.
The existing traditional $2 Pick Six wager will offer a mandatory payout this coming Sunday. Like the $2 Pick Six, the Empire 6 will be conducted on the last six races of the day.