Rainbow Six Mandatory Payout Date.

[Mall]

I agree, as I’m sure most do, with km’s thinking that if no one cashes before the start of what I think of as the “Calder at Gulfstream” meet, the bet will continue to carry until there’s a mandatory payout. However, I have what I’ll call a very strong hunch that unlike every other situation I’m familiar with, the mandatory payout will take place the day before the meet ends.

When I was looking at the rules to determine what happened in the event of scratches, I came across these seemingly inexplicable provisions which appear to have been added when the rules were revised.

“(7) A written request for permission to distribute the Rainbow 6 carryover on a specific date shall be submitted to the Division. The request must contain justification for the distribution, an explanation of the benefit to be derived, and the intended date for the distribution.

(8) Should the Rainbow 6 carryover be designated for distribution on a specific date, the unique wager provision of this Rule shall be suspended, and the entire pool shall be distributed as a single price pool to those whose selection finished first in the greatest number of Rainbow 6 contests. The Rainbow 6 carryover shall be designated for distribution on a specified date and performance only under the following circumstances:

(a) Upon written approval from the Division as provided in Section (7) above.
(b) When the Rainbow 6 is discontinued.
(c) On the closing day of the meet.”

It now seems to me that the reason for adding these rules is because the meet is scheduled to end on April 24, which is Easter Sunday, a day when New York, Kentucky, and no doubt a number of other states prohibit both racing and simulcasting.

I’m assuming the above provisions were added because someone at GP figured this out, and was looking for a way to avoid losing out on what could be a giant pool, so my best guess is that if the carryover continues through April 17, GP will obtain the required approval to distribute the carryover on a specific date, namely Saturday, April 23.

At least that’s what I’d do.

[km]

Great detective work Mel !

It presents a dilemma for their decision. Closing day Sunday is a potential dud without the Rainbow, but they would sure maximize participation and handle on Saturday. I agree with your assessment, they could turn that Saturday into a monster with a $5 million p6 pool.

Syndicates can put a $25,000 ticket into that pot with low risk on the downside with such a large pool. That's a lot of coverage for a dime bet. It is the equlivalent of a $500,000 ticket on a $2 p6.

[DanG]

As Mall suggested… (The forced out pool is as good as it gets for horseplayers…let’s hope either it lasts until D-Day…or...Gupta hits it first. )

DRF.com

Gulfstream's Rainbow 6 to be dispersed a day early

By Mike Welsch

HALLANDALE BEACH, Fla. – Gulfstream Park will disperse any carryover of the popular 10-cent Rainbow 6 pool on Saturday, April 23, rather than on April 24, closing day of the 2011 meet, the track announced Wednesday.

The 10-cent Rainbow 6, which had a carryover of $1.17 million entering Thursday’s card, requires the bettor to have the only winning ticket on a given program to collect the jackpot. The jackpot has been paid out four times this season, but not since Feb. 16, when the present pool began to grow. The largest payment to date was $221,000 on Jan. 27.

Tim Ritvo, Gulfstream’s vice president of racing, said the decision to disperse the carryover on April 23 was made because Gulfstream Park’s final day of racing falls on Easter Sunday, a day when all New York betting outlets and Kentucky tracks are closed.

“We want t give all our bettors that have supported Gulfstream racing and the Rainbow 6 throughout the meet the opportunity to take part in any carryover dispersal,” said Ritvo. “We believe the best way to give everyone an equal opportunity to play the Rainbow 6 and be part of the final carrover is to disperse the money on Saturday.

Ritvo said the Rainbow 6 will also be conducted on closing day, April 24, with the entire pool to be dispersed that day as well.

“This decision continues our efforts to always think of our customers both locally and globally,” said Ritvo. “The response to the pick six pool has been enormous. We’ve been receiving 20 calls or e-mails a day of late from customers wanting to know when the pool will be dispersed, where it’s offered, and even what outlets offer the Rainbow 6 with the minimum ten-cent bet.”

Ritvo explained that some outlets, including all Canadian tracks, cannot legally offer the wager for less than a 50-cent minimum play, which makes it impossible for those players to win the jackpot because of the single, 10-cent-ticket requirement.

“Saturday, April 23 will be the only day players at tracks that don’t offer the ten cent minimum can actually win the jackpot outright,” said Ritvo.

[DanG]

Unless its hit by a close member of the HTR family, here’s hoping the GP Rainbow six survives 2 more days!!!

[Mall]

The races today certainly appear to be wide open enough for a unique ticket, but while I haven’t been following GP since Kee started, before that it seemed that a carryover was likely even if there was only one favored winner in the sequence. It also seems GP was right when they predicted that this year a lot more horses would be sticking around after the Fla Derby.

Consistent with the quote at the end of your post, yesterday I raised the possibility of "copying" by participating in the twinspires so-called “players’ pool”, the theory being that with $100k of tix they’ll probably hit it, so even if the net return is only 3-1 or 4-1, one could use the projected winnings for individual plays. This idea received what might be charitably called a chilly perception from every one of the eight or so players at our table, including NHC champ John Doyle.

Of course, that means I have to follow through, so if anyone else who is participating in the players’ pool wouldn’t mind posting their tickets (usually available shortly after the first leg if I remember correctly) I’d appreciate it, since Kee blocks their signal.

[attytess]

Mel,
I'm in the pool and I'll post the selections to this thread once they are up if that helps.

Tom "attytess"

[DanG]

I think it’s a safe bet they sealed the carryover deal with a first leg slam dunk. What a coincidence with a 3 scratch / 4 horse field (w / A-A ML grades) to start the sequence.

Best of luck tomorrow everyone and if you’re not normally into this type of wager; tomorrow should be the exception imo. You could conceivably share the hit with 1,000 players and still get 5k for every .10 cent combo.

3 shots in each leg (or any combination of) is under $73 bucks…or the price of half a tank of gas.

[Mall]

And today the Cartagena horse in the first leg looked like the best single in the sequence, but in what I'm sure is nothing more than a coincidence, the horse was scratched, leaving the race very wide open.

Thanks Eddy, but for me the point is moot, as I was very surprised to learn that they had already sold out when I tried to get in early Thurs morning. Interest seems very high and if nothing else it ought to be fun.

Best of luck to everyone who's taking a shot.

[km]

Good luck to everyone going for the massive cash. You'll find my ticket and analysis in the "Selections" forum.

[Immanuel Kant]

Is this true?

The Player's Pool returned $0.33 for every $10 invested.