07/27/2017 3:52PM

Charles Town to debut jackpot pick six wager

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Charles Town Races in West Virginia will debut a jackpot pick six bet with a 12 percent takeout on its Aug. 17 card, the track announced on Thursday.

The daily wager, which is being called the Charles Town 6-12, will pay out 75 percent of its pool to those that have selected the most winners in the sequence, while reserving 25 percent of the pool for a progressive jackpot that will be distributed only in the event of a single ticket having all six winners. The progressive jackpot concept has been adopted by a number of racetracks over the past several years.

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Simulcasting outlets sometimes resist offering low-takeout bets because the wagers are not as profitable as those with high takeouts. However, Erich Zimny, Charles Town’s vice president of racing operations, said that he did not expect many outlets or account-wagering companies to pull the wager from their menus.

“Since this really isn’t one of your nuts and bolts pools, the hope is of course that a good chunk of what’s wagered into it is going to be incremental versus cannibalizing other pools,” Zimny said.

The wager will have a 20-cent base, but bettors will have to wager at least five combinations, or a minimum of one dollar, Charles Town said.

In a release, Charles Town said that the jackpot will have a mandatory payout on Oct. 14, the date of the West Virginia Breeders’ Classic. On that date, the entire pool will be distributed to those selecting the most winners in the sequence. The track also expects to adopt other mandatory payout dates in the future, the release said.