Mistake On Show Payoff at Monmouth

[Rupert Pupkin]

I think Monmouth made a mistake on the show payoffs in the Lady's Secret. There was a total of $1.3 million in the show pool. Rachel Alexandra had $1.23 million bet to show on her. Rachel obviously paid $2.10 to show. The other two fillies should have paid $2.10 to show also. But somehow Queen Martha paid $2.40 to show and Ask the Moon paid $3.80 to show. How can that be? After you subtract the 16% take from the show pool and after you subtract the $1.23 million bet on Rachel to show, there is no money left. There is a minus show pool. So all 3 horses should have paid $2.10 to show. I don't get it.

[AeWingnut]

I think you are right

but I am glad for the mistake
otherwise I lose $7.80 instead

it was worth a shot

[Duvalier]

It's Net Pool Pricing.

[Rupert Pupkin]

Originally Posted by Duvalier

It's Net Pool Pricing.

How does that work?

[Duvalier]

Here's an explanation on Net Pool Pricing:

http://theredmile.com/index.cfm?a=188

[Rupert Pupkin]

Originally Posted by Duvalier

Here's an explanation on Net Pool Pricing:

http://theredmile.com/index.cfm?a=188

Thanks. That actually answers the question about a minus pool like today. In the old days, all 3 horses would have paid $2.10 to show. Here is what it says:

$2.10 Payouts and Minus Pools

Fans will notice that show pools with a heavy favorite that you would expect to return $2.10 for all three runners, now may pay significantly higher on the two non-favorite horses. This is because that even though the payout on the favorite is reduced to a number even farther below the minimum $2.10 payout, it still must return $2.10. But the other horses are not participating in the minus pool as they were under the Standard Pricing model.

It goes on to say:

"One of the results of Net Pool pricing model is that one can no longer accurately calculate the payouts using only the information available on the tote board. This is true for all pools, including the Win pool. The reason for this is one needs to know the commission rate of the wagers on each runner in each pool to determine the true NET pool and NET winning wagers. (The tote odds continue to be accurate, as tote has all of the necessary information to properly calculate and display the current odds/payouts.)"