Just curious as to whether there is interest in forming an M1 wagering club.
Here's how it might work:
1. Form a group of 5-6 people, which includes primary and back-ups.
2. Invest about $250 per race card (group total), attempting to hit a P4 or P5.
3. Participation is optional by race card. If less than 5 members participate on a card, then other members can increase their % share for that card.
4. Members would volunteer to handicap one race in the P4 or P5 sequence, making the selections for that leg on the group's ticket. If they aren't enough volunteers to cap, then I would cap the remaining races.
5. If the ticket is a signer, the person who placed the ticket gets 15% off the gross winning ticket value to cover taxes (25%, if there is a mandatory Fed withholding for winners greater than $5k).
Other thoughts:
-The group may choose to play other tracks if there are attractive carryover pools that are worth playing.
-Having a PayPal account or a Chase bank account is strongly preferred. It makes the transfer of funds easier.
-Members can opt in/out as they please.
-Why M1 vs. Wdb? Because Wdb offers a $0.20 p4, splitting a $1 ticket is not necessary.
Example:
Let's say we have 5 people interested in Thursday night's M1 card. The group invests $256 to create a 4x4x4x4 P4 ticket ($51.20 per person). Four members would be assigned a single leg of the P4 and select 3 horses for the ticket. I would be the 5th member selecting a single horse to add to each leg of the ticket. The single horse could be an additional runner or a repeat runner, if the leg looks "chalky".
If you are interested, please send me a personal message. We can do a dry run on Thu/Fri, going through the process without actually investing any money.
