Updated on 09/16/2011 7:00AM

Bettors take a risk - and lose

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LOUISVILLE, Ky. - The timing of the closing of Sunday's Pool 2 in the Kentucky Derby Future Wager seemingly snagged the many bettors who made Siphonic the slight 6-1 favorite. Siphonic ran a weak third in the San Felipe Stakes 90 minutes after the pool closed at 5:30 p.m. Eastern.

While the Future Wager pools stay open until midnight during the first three days of the four-day wager, the early Sunday closing precludes fans from taking into account the results of Derby preps that are run later that day. On Sunday, Siphonic attracted $46,936 of the total handle of $401,070, making him the 6.10-1 favorite over Florida Derby winner Harlan's Holiday (6.80-1).

The third choice in Pool 2 was the mutuel field, including all other 3-year-olds besides the 23 individually listed interests. The field, which was the 5-2 favorite in Pool 1 (conducted Feb. 14-17), closed at 7-1.

Johannesburg, who was favored in Pool 2 until Saturday night, closed as the 7.30-1 fourth choice. Then came Repent (9-1), Saarland (10-1), Came Home (12-1), and Mayakovsky (21-1), who had been 39-1 before winning the Gotham Stakes about 45 minutes before the pool closed Sunday.

Horses whose odds rose after the Florida Derby included Booklet, from 14-1 to 27-1; Nokoma, from 24-1 to 41-1; and High Star, 23-1 to 40-1.

The handle was a record for Pool 2 since Churchill began offering the Future Wager in 1999, but well short of the overall record of $577,889 set during Pool 1 this year. Most of the Pool 2 handle came after the key race of the weekend, the Florida Derby, as total handle after Thursday and Friday was less than $75,000. More than $120,000 was bet Saturday, and more than $207,000 came in Sunday despite the early closing.

The aggregate total for the first two pools is $978,959, an 11 percent increase over the previous record of $883,776, set last year.

Results of the Future Wager are based on the 128th Kentucky Derby, to be run May 4 at Churchill. The win-only wager is a $2 minimum with a 16 percent takeout. The wager is available in 34 states, including all major racing jurisdictions.

The third and final pool is set for April 4-7.