08/28/2008 11:00PM

Multi-track pick six cut short


Northeast racetracks on Friday canceled the final installment of a Saturday pick six wager linking races from four tracks, citing the possibility of rain and the bet's struggles in previous weeks to hit its guaranteed $100,000 minimum.

The bet was scheduled to link races from Saratoga, Delaware Park, Philadelphia Park, and Monmouth. Four of the six races were scheduled for turf, with rain being forecast for most of the Eastern seaboard through Saturday night, introducing the possibility of myriad late scratches.

The New Jersey Sports and Exposition Authority, which operates Monmouth and has been the betting hub for the wager since it was launched on Aug. 5, may face regulatory sanctions for canceling the bet, according to Frank Zanzuccki, the executive director of the New Jersey Racing Commission. The authority had initially told the commission it intended to cancel the bet on Thursday, but the commission said that the authority was obligated to hold the bet under the rules governing the wager.

The bet, called the 60-minute Six, had been offered on seven consecutive Saturdays before the cancellation. Handle for it was well below $100,000 on every Saturday with the exception of three carryovers. On Aug. 9, the bet attracted $50,719 in wagers.

Under a $100,000 guarantee, payouts are calculated as if the pool had reached $100,000 even if wagering does not reach that level. If the wagering does not reach the guarantee, racetracks are liable for the additional money needed to make the payouts.