Rainbow hit again today...

Andy Beyer had some thoughts on it and the microbet concept in general today in the Post/DRF ..


Microbets a welcome addition to sport's wagering options
By Andrew Beyer

HALLANDALE BEACH, Fla. – A bettor playing Gulfstream Park’s races last month cashed a ticket that was almost unprecedented in U.S. parimutuel wagering. He collected $221,677 for a winning combination that cost 10 cents. The wager, dubbed the Rainbow Six, represents an innovation sweeping the sport: the microbet. Whereas the $2 bet once was the industry’s standard, and most exotic wagers have been sold in $1 units, many tracks have begun to offer smaller bets.

The main rationale for microbets is to help smaller bettors play exotic wagers that typically require a multitude of combinations. Picking the first four finishers in a race is a formidable task; if a bettor wants to play a superfecta using all possible combinations of five contenders, a five-horse box with a $1 wagering unit would cost $120 and would exceed the budget of many players. The advent of the dime super means that a bettor can make the play for $12 and get in the game with the big boys.