07/10/2014 4:56PM

Paulick Report co-founder seeks support for new wager


Brad Cummings, the co-founder of the website the Paulick Report, is attempting to find support for a horse-racing wager that would be offered through lottery-ticket vendors like convenience stores and automated terminals, Cummings said this week.

Under his plan, lottery vendors would sell daily $2 quick picks that would be partially mingled with a betting pool at a North American racetrack, likely the trifecta pool, Cummings said. In that case, the winning tickets would be determined by the numbers of the horses who fill out the trifecta.

Bettors would not be able to select the numbers in the wager, which Cummings has called “Equilottery.” Only $1 of the $2 bet would be commingled into the pari-mutuel pool, with 80 cents of the other dollar going to the lottery and the remaining 20 cents being commingled into a separate pool that will be distributed only to the players who bought winning tickets through lottery vendors.

The lottery players will receive the $1 payoff in the trifecta pool despite betting $2, Cummings said, since only $1 of the lottery player’s bet was sent into the commingled pool. In the event of a scratch, players would receive a “free ticket” for a subsequent bet, Cummings said.

“This game is not for you and I,” Cummings said. “This game is for people like me six years ago, when I helped create the Paulick Report and didn’t know what a furlong was.”

Lottery vendors would be highly unlikely to offer the bet without receiving a substantial cut of the proceeds, since their own similar games, which would compete with the racing bet, frequently have margins of 40 percent or higher. 

Cummings said he was in talks with several lottery corporations, but he would not identify them. The bet also has not been considered for approval in any racing jurisdiction yet.

Joseph Giambra More than 1 year ago
I am amazed that after taking Mr. Cummngs only 6 short years to fully understand the ins and outs of the parimutuel, he had a eureka moment. Now I'm really bummed out that I didn't think of this wager and I've been betting horses for 60 years. The only exotic bet back then was a $2.00 daily double offered on only the first 2 races of the 6 or 7 race card, unless of course you had friendly local book-maker, then you could make parlays round robins, with 40 or 50-1 limits on the payoffs. And if you hit to often they would tell you to find a new BM. Ah the good old days!!
1971 Whippet More than 1 year ago
I had to go to the website myself (I really couldn't believe what was written, above). Yup, that pretty much sums it up: Not too delusional, are we? And I thought things like these Rainbow 6 wagers were a cruel joke played on the average Joe who tries to win a buck or two at the track. This game makes a slot machine look like guaranteed money, every time you play. Brad Cummings, no one could be that stupid. And shame on you for thinking that there are people who would support this.
Frank Reach More than 1 year ago
I read this article 3 times to make sure I understood it. LOL. I'm still laughing. Marvin and Anonymous below me in comments here are exactly CORRECT. This is a joke right?! Who would do this bet? Too funny
Marvin Friedman More than 1 year ago
Say what now? I bet 2 bucks into a pool and get paid for half ,if I win ,and I have no say in my selections ,WOW,get me in on that wager.By the way,your firm wouldn't be located in California ,Washington, or Colorado now,would it?
Anonymous More than 1 year ago
Who on earth is going to play this ? This guy's claim to fame is creating the Paulick report .What a joke ! It's like saying ,'I was at the Tim Smith school of horse racing '.