Head-to-head, odd-even wagering on Churchill betting menu for spring meet
?q=100)
Churchill Downs plans to offer head-to-head matchups and odd vs. even wagering during its upcoming 44-day spring meet, including on the May 1 Kentucky Oaks and May 2 Kentucky Derby cards, the track said on Monday.
Handle on the Kentucky Derby card has grown by double digits in recent years, largely due to the widespread availability of the race on sports-betting apps, which have exploded in popularity over the past five years. The two new wagers are “binary bets,” in the sense that the bettor is selecting either of two options to win, making them potentially attractive to casual players.
Churchill also said that the Jackpot 8, a progressive-type bet that requires a player to select the first eight finishers in order, will continue to be offered during the Churchill spring meet after debuting in March at Turfway Park, which is owned by Churchill. The bet features a carryover if there is no single winning ticket, and as of the last day of the Turfway meet, the carryover was $54,964.
Churchill officials have said that the Jackpot 8 was designed to attract the attention of casual players on Oaks and Derby day due to its potential to produce an enormous payout if there is enough participation in the pool, especially if there is a large carryover going into Derby Day.
The bet requires a 10-horse field, and Churchill said that the bet would typically be offered on the last race of the day.
The odd-even and match-up bets will both be offered as parimutuel wagers, with each type having a 17.5 percent takeout. Both bet types have been offered by several racetracks in the past, though with limited success.
The head-to-head matchups will be offered on “select days” through the spring meet, including on the Oaks and Derby cards, Churchill said. Under the format, the bettor will select “which of two horses or groups of horses will produce the highest finisher in a race.” The odd-even bets will be offered on any race that has at least three horses on each side, according to Churchill.
Churchill said that the bets will be offered throughout the track’s simulcast and ADW network.
Churchill also said on Monday that the minimum for superfecta bets on the Oaks and Derby cards will be $1, rather than 10 cents. Churchill has raised the minimum for superfectas on both cards in the past to reduce the burden on its on-track mutuel tellers on the busiest days of the year.
:: Want to learn more about handicapping and wagering? Check out DRF's Handicapping 101 and Wagering 101 pages.