National Handicapping Championship adjusts purse distribution

The purse distribution for the Daily Racing Form/National Thoroughbred Racing Association National Handicapping Championship has been tweaked , with the winner of the 2013 event to get 50 percent of the total purse, rather than a guaranteed $1 million, tournament officials said on Friday.

Based on a total purse of at least $1.5 million, the winner of the 2013 event will receive a minimum of $750,000, said Keith Chamblin, the senior vice president for the NTRA. Last year, the winner received $1 million, with most of the remainder going to the other top five finishers, though all top 50 finishers received a payout.

Chamblin said the organizers decided to change the structure after receiving feedback from this year’s participants.

“Basically, they were telling us that the gap between the first-place finisher and the second-place finisher was too large, and that we needed to reconsider that,” Chamblin said. Last year’s second-place finisher received $150,000.

Last year’s winner was the first to receive a prize of $1 million. For the four years prior to the 2012 event, the winner received $500,000. The first tournament, held 13 years ago, offered a total purse of $250,000.

Chamblin said that the total purse for the championship could rise over the next eight months, depending on whether racetracks, off-track betting companies, and account-wagering companies decide to hold additional qualifying tournaments. The total purse is funded in part through entry fees for the qualifying tournaments.

The DRF/NTRA Nactional Handicapping Championship will be held next year at Treasure Island in Las Vegas in late January.