Horseshoe Indianapolis discontinues Jackpot Pick 6, adds low-takeout pick five
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Horseshoe Indianapolis is dropping a progressive-style jackpot multi-race wager from its betting menu this year and will add an early pick 5, the track announced on Tuesday.
The Pick 6 Jackpot, which only paid out the full pool if there was a single winning ticket, was added to the menu in 2021, though it never received the gaudy pool sizes for a progressive jackpot bet that have become standard at some tracks on major racing circuits. Progressive jackpot bets can have outsized returns for tracks, but many horseplayer advocates have criticized the format for its elevated effective takeout rate and effect on handle for other multi-race wagers.
With the addition of a new pick 5, Horseshoe Indianapolis will now have two pick-five bets on the menu, with some overlap. The takeout rate for each pick five will be 11.99 percent, which Horseshoe Indianapolis advertises as the lowest in the nation for that type of bet.
In a release, Eric Halstrom, the general manager of racing at Horseshoe, said that the removal of the Jackpot Pick 6 came after the track surveyed longtime customers. He said the removal was “the single most requested change,” and that the same customers wanted an additional pick five.
“We think this will be a win-win for both our customers and our horsemen,” Halstrom said.
Horseshoe Indianapolis begins its 123-day mixed Quarter Horse and Thoroughbred meet on April 18.
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