Through the legislature’s approval of the coin split, Kentucky accepted the shuffle in its pari-mutuel bet, and the initial returns were impressive. It will now receive referral treatment at Keeneland Fall meeting and the Breeders’ Cup World Championship.
Breakage refers to how winning bonuses are rounded, in Kentucky being rounded down to the nearest 10 cents on a $1 bet — a practice adopted in most racing jurisdictions. other vehicles. In the spring, Kentucky lawmakers approved reducing that rounding from 10 cents to one cent, which applies to every racetrack in the state.
Easing Incident launches on July 15, second weekend of Ellis . Park meet with the first winning payout returning $3.38 on a $2 bet, up from a $3.20 payout on the previous break.
The first two trends meet with a coin break in that each handles positively. Without delving too deeply into the many factors that affect grips — and noting that the two meet are not ideal for comparison as they both see changes in their race days from 2021 — Ellis has saw a 19.7% increase in average race days while Kentucky Downs hit a record $80,175,928 in stakes, up 8% from last year’s record.
The Thoroughbred Idea Foundation, which advocates for breeders and owners and promotes coin sharing since its founding in 2018, said from its launch July 15 to September 25, the Coin split among the winning groups, slots and the program has placed over $630,000 for bettors’ pockets. (Penney outs work in all groups but are harder to track in exotic bets.)
That $630,000 came from bettors, which today are largely ADW and other retail outlets. With more money in the hands of bettors, TIF believes more confusion — putting winnings back into other bets — has been created for the racing industry. TIF believes that breaking the coin will incentivize more interest and increase pari-mutuel staking, generating money for the industry.
TIF CEO Pat Cummings said: “The more money our industry falls into the hands of bettors, who can then channel it back through the pools to trigger a selling cycle. other customers, the better our industry will be.” “Cost issues and coin split terms, in general, increase the payoffs to winning bettors on Kentucky races.”
As today’s races primarily compete for attention through ADW and simulcast signals, Cummings believes bettors are starting to see added value in Kentucky. And, he doubts that will increase in the coming months.
While Ellis is an important encounter for the Kentucky circuit, it can be overshadowed by summer encounters like Racecourse Saratoga and Del Mar. The Kentucky Downs are hugely popular with core players — and those bettors are sure to spread the word about the added value — but its brief seven-day encounter may not have had a single reach. number of other encounters when it comes to attracting new players or increasing interest in starting a player. That’s where the upcoming Keeneland fall meets — capped by the Breeders’ Cup World Championship — the numbers that draw the most attention to this added value.
“The biggest impact will be felt at the Breeders’ Cup, held in Kentucky this year at Keeneland and of course the Kentucky Derby next week,” Cummings said. “Until another state joins the pennies camp, Kentucky certainly has the edge in attracting bettors.
“Kentucky pays you more. End of story.”
