Charles Town Rainbow

[Fairmount1]

Charles Town chart for R13 shows a $1 pick 6 jackpot paid 9600 on 1.1 million dollar pool.  It was stated as a mandatory payout by several outlets including their announcer apparently.

The video feed payoffs for CT after r13 showed a 440k+ carryover with a $6k 20 cent payout for hitting today.

Anyone want to enlighten me on math, carryovers, and mandatory payouts in West Virginia?  And more importantly, which one is accurate (the chart or their video feed)?

Now this is how tracks could make some serious money LOL.....Horse racing is full of geniuses,... just ask \'em, they Will tell ya!


**before the card started at CT, two friends went back and forth trying to confirm if it was mandatory today and ultimately decided yes it was after a call to an ADW**

[Fairmount1]

Charles Town Tweeted out the following:

PICK 6 UPDATE:  Tote initially priced the Pick 6 payout incorrectly.  There is NO carryover.  EVERYONE who hit the Pick 6 is getting paid the correct and full amount.  


Mathcapper, do you mind running the parlays on this one for us?  If too busy, I understand.  Curious how the 20 cent 6k amount (video feed) and the $1 9600 amount (chart) all kinda play out here.....  

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Wondering if anyone had already cashed their paper ticket at a simulcasting facility for the incorrect amount?  

You can\'t make this stuff up!!

[Mathcapper]

At Charles Town, the Pick 6 has only a 12% takeout and they apportion 30% of the pool towards the jackpot pool if there’s no lone winner. They offer a $.20 wager, but patrons must bet a minimum of 5 combinations, or $1.00, on their ticket.

By my math, unless the payout was a really big underlay, it looks like that $9,631 payout is based on a $.20 ticket (a total of 128 winners), not a $1 ticket as stated in the charts. The $6K amount referenced in that errant video feed is closer to what would be expected for a $.20 ticket, but that was wrong as well because it assumed there was a carryover and thus took a big chunk out of the pool to put towards the jackpot.

The pool was $1,196,337, which along with the $179,963 carryover, produced a total pool of $1,376,300. There was 0.12*$1,196,337 = $143,560 subtracted from the pool in the form of the 12% takeout and $179,963 added to the pool by the carryover, for a net addition of $36,403, with no takeout for a jackpot pool and no takeout for consolation tickets, which meant that horseplayers were looking at a positive advantage of +$36,403/$1,196,337 = +3% on the bet.

The $.20 parlay was $2,810, in which there is an inherent -17.25% takeout in each leg (WPS takeout). But since you only get hit with the takeout once in the Pick 6, and because in this particular case the effective \"takeout\" was actually a positive 3%, the expected payout was 1.03/(1-.1725)^6 = 3.2 times the parlay, or $9,020, which is pretty close to the actual $9,631 payout.*

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*CORRECTION: $.20 parlay was actually $5,620 not $2,810 as noted above, so the expected payout was $18,040 not $9,020, which means that even based on a $.20 ticket the payout was light.