Thursday, 11 September 2014

The Meadowlands Jackpot Hi-5

The Meadowlands is adding a low takeout (sort of) Jackpot Hi-5 come November. Here's how the wager works.

  1. 8% takeout
  2. $.20 minimum
  3. If there are multiple winning tickets, 75% of the pool is paid out and 25% is added to the carryover.
  4. On the first night of a new carryover, the pool is seeded with $10,000
  5. Mandatory payout day is August 8, 2015 (Hambletonian Day.) The carryover can go from one calender year to the next.
Now of course, this is a better bet than every other jackpot bet out there, but we all need to remember that unless you're the lucky guy who hits the jackpot, you're not playing into an 8% takeout pool.

      Lets do some math. Let's say the pool is $10,000, but there are multiple winners. First, we take 8% out, leaving us with $9,200. Then, 25% of that, $2,300, is added to the carryover, leaving the bettors with $6,900. Effective takeout = 31%. Not an easy bet to beat.

      However, like I said, this is still better than most jackpot wagers. The effective takeout of Gulfstream's Rainbow 6 is 44%. WEG's Jackpot Hi-5 is 57.5%. The Meadowlands hasn't made it easy, but they've softened the blow. While Jackpot bets may not be a smart wagering opportunity, there is a demand for them. The customers have spoken, and the Meadowlands has listened.

      Harness racing returns to the Meadowlands on Friday, November 14. They are the best bet in harness racing and I encourage everyone to check them out.

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