The Meadowlands is pleased to announce the addition of a new wager to its
wagering menu. It is a Super High-Five Jackpot that will be offered with
a $.20 cent minimum on the last race of each racing program. The wager
will offer an industry low takeout rate of eight-percent (8%) and the pool will
be seeded with $10,000 on its first night being offered, Friday November 14th.
“The W.E.G. circuit implemented this wager this past year and it has had great
success,” said Director of Racing Operations Darin Zoccali. “The jackpot
wager has really caught-on throughout North America and we will take it a step
further by implementing an industry low takeout rate of just eight-percent.”
“We are a supporter of the low takeout movement that is currently taking
place,” Zoccali added. “But it needs industry-wide support to be
successful. We are optimistic that this wager will prove extremely
successful and will pave the way to lower takeout wagers in the future.”
The Meadowlands will also give back more each night. “Our carryover will
be 25-percent each day as opposed to the standard 45 to 50-percent this wager
typically carries,” said Zoccali. “We believe that the low takeout
combined with paying out a larger portion of the pool each night will create
more handle and larger payouts on a nightly basis. Additionally, the pool
will be seeded with $10,000 initially which further reduces actual takeout.”
Meadowlands General Manager and C.E.O. Jason Settelmoir explains that the 8%
takeout figure has significant meaning. “Having worked at Tioga Downs and
Vernon Downs since 2006, I have become well versed on the ‘casino’ aspect of
gaming. The average takeout rate of slot machines or V.L.T.’s throughout the
country is 8% and while horse racing is a more intellectual game, the result is
the same, more churn and more money in our customers pockets.”
Meadowlands Chairman Jeff Gural touched on the success the wager has had at
Woodbine and Mohawk. “On the two nights they have had mandatory payouts,
there was around $2 Million bet. Given that The Meadowlands is the
highest handling standardbred signal, tied into an 8% takeout rate, with a
mandatory payout on Hambletonian Day, assuming the bet carries over throughout
the meet, I am certain it will be the biggest pool in harness racing history.”
The Super High-Five is pending
regulatory approval and is scheduled to begin on Friday November 14,
2014. Details on the wager are as follows:
Jackpot Super High-Five Details
- $.20 Cent minimum wager
- Offered on the last
race, each race night
- Low takeout rate of
eight-percent (8%)
- Individual must select
the first five (5) finishers in one race in the exact order of finish.
Jackpot Super High-Five
Payout:
Single Winning ticket
The entire Jackpot High-5 net
pool, plus any previous carryover pool will be paid when there is one and only
one winning ticket sold that correctly selects the first five finishers in
exact order.
Multiple Winning Tickets
In the event there are multiple
tickets sold that correctly select the first five finishers in exact order, 75%
of the net daily Jackpot High-5 pool will be distributed to the holders of
tickets with the first five finishers in exact order, and 25% of the net daily
Jackpot High-5 pool will be carried over to the next scheduled Jackpot High-5
event and added to any existing carryover pool.
No Winning Tickets
In the event there is no ticket
sold that correctly selects the first five finishers in exact order, the entire
High-5 net pool, plus any previous carryover, will be carried in to the next
scheduled Jackpot High-5 event. There is no consolation payout in the Jackpot
High-5.
Pool-Seeding
There will be $10,000 added into
the pool on the first day of the wager, by The Meadowlands, which will be
Friday November 14, 2014.
Mandatory Payout
The entire Jackput High-5 net
pool must be paid out on Hambletonian Day, August 8, 2015. The pool can carryover
from one calendar year to the next.
