Yonkers Pick 5 Mystery

[Vinman]

As many are aware, Yonkers recently installed a 50 cent Pick 5 wager. As was the case Monday night, there was a $10,000 minimum pool guarantee on the Pick 5 last night also, as part of the USTA's "Strategic Wagering Program".

Last night no one hit the Pick 5. But that's not the strange part. The strange part is that NO payout was made on the Pick 5 last night to those bettors who picked the highest number of winners. First I checked BRIS Supertote, which showed a carryover of $7,500.03 and no payout. I also checked for YR results on a site called Betamerica.com. No Pick 5 payoff. Finally this morning I checked the USTA website for results. Under the Pick 5 results for race 9, it actually said "No Payout".

On the surface, what seems to have happened here is Yonkers pocketed $2,500 of the USTA's $10,000 guarantee as YR's 25% takeout, then listed the remaining $7,500 of the guarantee $$$ as the carryover for Thursday.....while paying out NOTHING! It goes without saying that the $10,000 P5 pool guarantee was not reached by the bettors.

So the burning question is....How does Yonkers Raceway get away with:

1. Not paying any portion of last night's Pick 5 pool to those bettors with the highest number of winners.

2. Apparently withholding 25% of the $10,000 USTA guaranteed $$$ as "takeout"

Anyone?

Vinman

[3 wide and wingin]

I know at Rosecroft when the USTA offered a guarantee the track only covered half and then USTA covered half.

So if it was 10000 guarantee and 7500 in the pool.

The track owed 1250$ and the USTA 1250$

So they would both lose.

If its like that everywhere then yonkers didn't pocket any USTA money.

I have no idea what their arrangement is though.

[3 wide and wingin]

Also was there a pay out for not hitting 5 of 5?

You don't have to have one.

Then the 25% take out makes sense and you get a 7500$ carry over.

Which means only need 2500$ bet into it next time to meet the guarantee.

[3 wide and wingin]

Last post 


So lets say there was 5000 bet into the guarantee.

That means USTA and Yonkers put in 2500$ a piece into the pool.

But then after the 25% take out theyd both only owe 1250$ to get to the 7500$ carry over.


If 8000$ was bet by the betters then youd get 1000$ from the track and USTA to complete the 10,000 guarantee.

 If its not hit and there is no pay out besides 5 out 5.

They get their money back. they only pay it up to 10000 if its hit.
If its not they are only in for 7500$

But after the take out neither would put anything into the carry over.

The track would take their 500$ over the 10 000 guarnetee minus 25% take out.

[3 wide and wingin]

Summing up. If its not hit they are only on the hook for 7500$ the !0,000$ is only if its hit.

If there was 0 bet into the pool the track and usta would each owe $3750 to equal the 7500$

if 1000 was bet the track and USTA would each owe $3250 to the guarantee

if 2000 was put in by the betters the 2750 would be owed by the track and USTA.

if 3000 was bet by the bettors then 2250$ would be owed by the track and USTA to get to the guarantee.


etc etc etc

$5,000 bet by the public means If its not hit the USTA and track are on the hook for 1250 a piece into the carry over pool.

if 5000$ is bet by the public and its hit. Then 2500$ is owed to the winning tickets by the track and USTA.


once it got to 7500 then the track makes money. they are only guarentteeing the pool minus the take out.

Hope I am not too confusing.

[Vinman]

The "takeout" angle here is interesting, but if the Yonkers players were able to muster $10,000 in actual betting handle, then Yonkers is certainly entitled to their $2,500 in takeout. So I'm not as concerned about that as I was originally.

What I do find disturbing is that Yonkers ran a Pick 5 betting pool with $10,000 at stake....and paid out NOTHING at all. Not a nickel, even to those with the highest number of winners. This would not be okay even if this were a "Jackpot" Pick 5, with the whole pool payable to a single ticketholder. Even in that case, as is the case in Gulfstream's dime Rainbow 6, there is always 60% of the pool paid out to those with the highest number of winners, whatever that number may be.

Something's not right here. I may just place a call to the Yonkers mutuel dept. to ask why there was no pick 5 payoff last night.

Vinman

[3 wide and wingin]

If it is advertised as a winner take all then that's it. There is no consolation and people should have known before hand.

Also remember if 8000 is bet at the guarentee.

They still get 25% of that ( $2,000) to put towards their end of the guarantee.

So basicly if 8000 is bet they have met the 10,000 guarantee.

Its a good angle for the track and the bettors. IMO

[NIATROSS]

imo opinion the majority of the time the 4 of 5 payout is a waste of money and lowers the p5 payout when it is hit.
in cases where no one hits 5 as long as the rule says no 4 of 5 payouts im fine with it

[The Giss]

FWIW, the guaranteed pools are gross, before takeout. So if the Guarantee is $10K and takeout is 25%, the USTA and Yonkers only have to make it up to get it to $7,500. This is true whether there is a payout or not. If there is no pay out, the $7500 is carried over. They can then choose to guarantee a $10K pool the  next day(which would certainly be covered), increase the guarantee (as Northfield regularly does when there is a carryover), or have no guarantee at all.

[BillyFord]

Come on people, if you dont understand the exotic rules and cant research it, dont play it and lastly dont post about it like there is corruption.

http://www.drf.com/news/yonkers-new-pick-five-wager-and-adw-launched

There was nothing fishy, no scam, no payout cause no one won.
All is well.

[LVGaryD]

YONKERS, NY, Thursday, June 27, 2013--Yonkers Raceway's Thursday night Pick 5 comes complete with a $7,500 carryover....actually $7,500 and three cents, to be precise.
 
Yonkers' two-week-old Pick 5 is a 50-cent base wager offered on races 5 through 9 nightly. It has no consolation payoff, meaning if no one selects all five winners (as was the case Tuesday), the entire pool carries over to the next racing program.
 
The Pick 5 also offers a $10,000 guaranteed pool every Monday and Tuesday.
 
The Raceway's five-night-per-week live schedule continues, with first post every Monday, Tuesday, Thursday, Friday and Saturday at 7:10 PM. Evening simulcasting accompanies all live programs, with afternoon simulcasting available around the NYRA schedule.
 
By: Frank Drucker