With the approval of the Louisiana State Racing Commission, Fair Grounds is lowering the takeout on its Pick 5 from 25% to 15% and adding a new Pick 6 at the same 15% rate with a $1 minimum.
“We are very excited about both of these new wagering opportunities for horseplayers,” said Gary Palmisano Jr., the newly-appointed Executive Director of Racing for Churchill Downs Incorporated, which owns Fair Grounds. “Fair Grounds has not had a Pick 6 in many years. After monitoring the success of this same wager at the New York Racing Association, we feel this is an interesting variation of the pool to implement and worth exploring.”
Fair Grounds offers a traditional Pick 5 where the entire pool, after the 15% takeout, is paid out to winning bettors. If there are no perfect Pick 5 tickets, the entire pool, minus the takeout, will carry over to the late Pick Five the next racing day. On most racing days there will be two Pick Five opportunities for horseplayers–an early and a late–and on cards of 11 races or more, a third may be added.
The new $1 Pick 6 will be “non-jackpot” and 75% of the after-takeout pool will be paid to all tickets with six winners. The other 25% will be paid to all those with five of six winners as a consolation. If no one has six winners, 75% goes to the next day as a carryover and 25% is paid to all the consolation tickets.
“The obvious goal is that this wager will create numerous carryover opportunities and draw attention to racing in New Orleans,” Palmisano Jr. added.
The 80-day 2022-2023 Fair Grounds racing season opens Friday, Nov. 18 and runs through Sunday, Mar. 26.
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