new rules on show payoffs

we had a horse today in the first at Turf Paradise who had over 20,000 to show on it. the show pool was 21,000. it won and his payoff to show was 2.10, but the other horses payed 2.60 and 3.00. what is the name of this new way of show payoffs and how does it work. i tried to remember, but couldnt. in the old days, all the horses would have payed 2.10, but not now. something like net pooling or such.

[blackthroatedwind]

Net pool pricing.

thanks

[joeydb]

Net pool pricing? Does anybody have an explaination of what that is, as this is the first I've heard of that term.

[Scav]

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

[Port Conway Lane]

Originally Posted by joeydb

Net pool pricing? Does anybody have an explaination of what that is, as this is the first I've heard of that term.

I've heard of the term and after reading the explaination in the link above it appears as though the payouts of any wager, whether it is a pick three,superfecta,daily double etc. can or will be different depending on where you place your bet.
If this is true then in the case of a pick 4 wager in Maryland when they were offering a reduced takeout the payoffs to a person wagering from Calder were calculated using Florida's takeout rate, a good 10% more than Maryland was offering. Do I have this correct ?
Which makes me wonder when I wager from youbet what jurisdiction is my money pooled into?

I always thought it was just on show betting. In the old days when a horse was bet large( bridge jumper type) to show, if he finished in the top three, the payoff for all three horses was 2.10. Now all the payoffs are different.

[Port Conway Lane]

Originally Posted by arizonadave

I always thought it was just on show betting. In the old days when a horse was bet large( bridge jumper type) to show, if he finished in the top three, the payoff for all three horses was 2.10. Now all the payoffs are different.

It seems complicated. In the show wagering under net pool pricing if I make a show wager from the simulcast facility in my state on Taptam in the Apple Blossom and the guy next to me wagers half a million on Zenyatta to show, my payoff on Taptam will be $2.10 wheras you will receive $6.40 from your track. In addition my track will pay out the minus show pool to the host track so that you will be paid off on your show wager. Someone please correct me if I have this wrong.

[philcski]

Originally Posted by Port Conway Lane

It seems complicated. In the show wagering under net pool pricing if I make a show wager from the simulcast facility in my state on Taptam in the Apple Blossom and the guy next to me wagers half a million on Zenyatta to show, my payoff on Taptam will be $2.10 wheras you will receive $6.40 from your track. In addition my track will pay out the minus show pool to the host track so that you will be paid off on your show wager. Someone please correct me if I have this wrong.

Not correct. It has no bearing on where you placed the bet.

Let's take the Apple Blossom example, where there is $555,000 to place on Zenyatta and $10,000 to place on Taptam out of a pool of $600,000 at a takeout of 20%:

old model (gross pricing): First, reduce the pool by the takeout. There is now $480,000 to be paid out. We will pay $565,000 of winners on $480,000 of pool, so obviously we have a minus pool- and everyone participates in it. Therefore all horses would pay the state minimum price (most states $2.10)

new model (net pricing): First, take out the winners: $600,000-$555,000-$10,000 = $35,000. Remove the takeout from the remainder, so $28,000. Split the remainder between the two horses, so $14,000 to Z and $14,000 to Taptam. THEN calculate the place price: Taptam $10,000-takeout= $8,000; add back the winnings allocation, so $22,000. Payout the winnings $22,000/$10,000, or $2.20 to $1, so a place price of $6.40. Z: $555,000 minus the takeout = $444,000; add back the winnings allocation, so $458,000. Still a minus pool for Z but Taptam's price doesn't get affected as adversely.

[Port Conway Lane]

Originally Posted by philcski

Not correct. It has no bearing on where you placed the bet.

Let's take the Apple Blossom example, where there is $555,000 to place on Zenyatta and $10,000 to place on Taptam out of a pool of $600,000 at a takeout of 20%:

old model (gross pricing): First, reduce the pool by the takeout. There is now $480,000 to be paid out. We will pay $565,000 of winners on $480,000 of pool, so obviously we have a minus pool- and everyone participates in it. Therefore all horses would pay the state minimum price (most states $2.10)

new model (net pricing): First, take out the winners: $600,000-$555,000-$10,000 = $35,000. Remove the takeout from the remainder, so $28,000. Split the remainder between the two horses, so $14,000 to Z and $14,000 to Taptam. THEN calculate the place price: Taptam $10,000-takeout= $8,000; add back the winnings allocation, so $22,000. Payout the winnings $22,000/$10,000, or $2.20 to $1, so a place price of $6.40. Z: $555,000 minus the takeout = $444,000; add back the winnings allocation, so $458,000. Still a minus pool for Z but Taptam's price doesn't get affected as adversely.

Thank you Philcski, thats the best explaination I've seen.