02/03/2016 2:56PM

One bettor hits Rainbow 6 Jackpot at Portland Meadows

Email

A single ticket had all six winners in a sequence of races at Portland Meadows on Monday called the Rainbow 6 Jackpot, requiring the track to put up tens of thousands of dollars to satisfy the betting pool’s $100,000 guarantee.

The winning ticket paid $78,000, the amount of the guaranteed pool minus a theoretical 22 percent takeout. The carryover going into the Monday sequence was $20,274, and $22,622 more was wagered into the pool, according to mutuel records, so Portland Meadows had to contribute approximately $35,000 toward the payout.

The jackpot-style bet, which was first offered Jan. 11, drew scrutiny from some out-of-state regulators because of the unusual rules under which the races in the sequence were held. All of the horses in the races were owned by Andy Stronach, the son of the owner of the track, and the horses were distributed among the races by the racing office. Jockeys were assigned to horses at random, and all of the races were contested at two furlongs, a distance far more common in Quarter Horse racing than Thoroughbred racing.

The horses who won in the Monday sequence paid $9.20, $15.80, $62.60, $7, $6.40, and $7.80. Portland Meadows said the winning bet was played on an account-wagering service, and that it cost $1,440. Minimum bet for the wager was 20 cents, as long as the total cost of the ticket was $1.

The bet was scheduled to be offered every Monday through Feb. 8, when the bet would payout regardless of whether there was a single winner. On Thursday, Portland Meadows announced that they would hold the bet again on Feb. 8, but without the $100,000-guaranteed pool. The entire pool will be paid out, they said.

Portland Meadows officials had said that they would have been unable to hold a jackpot-style bet without the participation of the Stronach horses, who were purchased privately from racetracks across the country. The officials said the track has struggled to fill races from its standing horse population.

“Regular race-day field size has not been high enough to justify a single-winner wager that has the chance of carrying over and building momentum,” Karsten Hennze, the track’s general manager, said several weeks ago.

Conditions for the races held Monday also stated that the winning horse in each race would be offered for sale in a telephone auction following the race. If the horse was sold, the winning bidder also would receive a “non-transferable breeding” to Giacomo, a stallion who stands at Oakhurst Thoroughbreds in Oregon for a $2,500 fee as property of the Stronach family.

Sheldon Glass More than 1 year ago
The stewards are blind and dumb....Monday they had no track announcer....what a terrible place..
john g More than 1 year ago
This whole deal sounds very shady. Does anybody govern, or look over this track? The comment below may very well be correct, but still something about this don't pass the sniff test. I don't mean the story, I'm talking about the tracks policies on this wager.
Dave Ciarrocchi More than 1 year ago
Track should have to put in more than $35K. That 22% take out must/should be allocated to horsemen's and State's share.
Anonymous More than 1 year ago
Is there an editor that checks the accuracy of the writers stories or that understands the meaning of amount in a guaranteed pool? The track had to add $57,104 to go along with $20,274 and $22,622 to make up the $100,000 guarantee. The 22% is then deducted and the state, the track, and the horsemen get their split based on whatever percentage each entity is entitled to.
Sidd Finch More than 1 year ago
Somebody should edit your posts before they land online, because you seem to be the one lacking understanding as to a guaranteed pool. As is the case with all of these guaranteed pools, the gross pool is guaranteed to be $100,000 in the event of a single winner. That is OBVIOUS, based on the payout amount of "$78,000" to the single winner. SO, with $20,274 already stored-away toward that, and with another $22,622 wagered on the day, you are at $42,896. As stated correctly, the track directly lost about $35K, and then there is the math on approximately $5000 in would-have-been take-out, some of which may well indeed have to go to the state and other recipients. Yet most of it was likely earmarked for the Stronach group, so the net effect of that $5000 is relatively minor. Your $57K number is moronic and indicative of a fool who neither understands horse racing, nor editing. I mean, how stupid could you be, to imply that "22% is... deducted (FROM A CARRYOVER)" ??? You really have to be an idiot to think that any 22% "takeout" is somehow deducted FROM (guaranteed) MONEY WHICH WAS NEVER WAGERED. God, wake-up! If Portland Meadows were going to wager on the pick-6 only after it ended, wouldn't they be wise enough to wager twenty cents on the winning combination so as to insure that a unique winning ticket didn't exist?
william More than 1 year ago
Sidd Finch must be Matt Hegarty.