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Jackpots Heat Up During the Winter Months

As most of the country is firmly entrenched in the snow and frost of winter, two southerly tracks are offering help to gamblers get through the doldrums known as the time between the Breeders’ Cup and Kentucky Derby. Fair Grounds Race Course offers the Black Gold 5, while Gulfstream Park has the Rainbow 6 for bettors seeking big jackpots. Some national columnists claim these are poor bets due to takeout rates and carryover payout rules. In fact, both bets regularly beat the parlay, making them good bets even on days when there are not big carryovers. 
Fair Grounds Race Course’s Black Gold 5 is a 50-cent base bet requiring bettors to select the winners on the last 5 races of the card. 25% is the takeout and 50% of the remaining pot is carried over to the next day if there is not exactly one winner. The remaining 50% is divided among the people with winning tickets. Here’s a look at what the parlays and actual payouts were for the last nine racing days. Despite the small pool leftover after the takeout and carryover, the Black Gold 5 still beat the parlay in 6 of the 9 days with Sunday producing a jackpot winner. In addition, keep in mind that each day you get the chance to win the usual 5-figure carryover pool as well.
 Date $0.50 Win Parlay Actual Payout Carryover
 12/26/12 $273.39 $1,461.05 $10,472
 12/27/12 $265.95 $839.95 $14,672
 12/28/12 $147.67 $167.55 $20,873
 12/29/12 $5,164.62 $2,355.85 $27,941
 12/30/12 $2,872.07 $4,129.95 $36,201
 12/31/12 $2,498.57 $1,782,25 $48,676
 1/4/13 $106.56 $118.15 $54,468
 1/5/13 $2,943.30 $1,815.35 $61,729
 1/6/13* $12,977.95 $75,037.90 $0.00
*1 winner on 1/6/13 

Gulfstream Park’s Rainbow 6 has a similar concept to its Crescent City counterpart. The Rainbow 6 is a 10-cent base bet where a bettor attempts to correctly pick the winners of the last 6 races. The takeout is 20%, 40% goes into the carryover pool when there is not exactly 1 winner. The other 60% goes to those with winning tickets. Over the last ten days, only 5 of 6 winners were required 3 times. There was only 1 winning ticket twice, and one of those occurred on a non-carryover day where the payout was still over 7 times the parlay.  
 Date $0.10 Win Parlay Actual Payout Carryover
 12/26/12 $1,649.56 $117.97 (5 of 6) $6,999
 12/27/12 $116.06 $51.78 $14,491
 12/28/12* $3,991.20 $41,813.78 $0.00
 12/29/12* $4,915.21 $35,859.76 $0.00
 12/30/12 $5,699.50 $461.08 (5 of 6) $7,992
 1/1/13 $1,807.07 $1,091.08 $23,995
 1/3/13 $42,562.49 $658.15 (5 of 6) $39,790
 1/4/13 $373.24 $1,460.22 $53,419
 1/5/13 $1,632.11 $1,710.48 $77,366
 1/6/13 $387.78 $202.09 $98,249
*1 winner on 12/28 and 12/29
After analyzing the data, there is no doubt that both of these bets are good wagers. The Black Gold 5 and Rainbow 6 offers value by consistently beating the parlay, and a good value in a game subject to high taxation is all a gambler can ask for.
Please be sure to follow me on Twitter-@Cappercorner and/or friend me on facebook.com to continue the horse racing conversation! 


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Older Comments about Jackpots Heat Up During the Winter Months...

It would be nice if the takeout 25% was not so big!
Love both of these bets, and the low minimum is a big reason why.

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