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.
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04-21-2010, 11:27 AM
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