Wagers offered daily during 65-day meet that begins May 18
Canterbury Park officials announced today that the Shakopee, Minn. racetrack’s industry-low 10 percent takeout rate on the $.50 Pick 5 wager will return for the 2021 racing season and that a $1 Pick 6 wager, also with an industry-low 10 percent takeout, will be offered daily. Both the Pick 5 and Pick 6 will be traditional wagers distributing the full pool less takeout to bettors selecting the first-place horse in each leg of the wager.
In conjunction with a modified 2020 racing calendar as a result of COVID-19, Canterbury instituted the low takeout rate on a traditional Pick 5 wager at the beginning of last season, abandoning the jackpot format offered since 2017. The Pick 5 averaged $79,500 in wagers per pool in 2020 and totaled more than $4.1 million throughout the season. Both were astronomical increases over 2019 when the wager attracted an average Jackpot Pick 5 Pool of $8,366 and season-total wagering of slightly more than $550,000.
“There is no doubt that the low takeout in the Pick 5 was a factor in attracting new players to our racing product,” Canterbury’s track analyst Brian Arrigoni said. “Those new players liked what they saw with our weeknight mix of turf and dirt races and solid field size and not only bet into that low-takeout pool but also found appealing wagering opportunities across other pools as well.”
The weekday-focused calendar in 2020 and the modified wagering menu resulted in record all-sources wagering of more than $68 million during the shortened 53-day season, the fewest days run at Canterbury Park since 1998. All-sources wagering increased by more than 68% as compared to 2019 when a 66-day meet was conducted. Controlling for the reduction in race days as a result of the coronavirus pandemic, daily all-sources handle increased by nearly 110% and was spurred by an increase in the average Pick 5 Pool of nearly 850%.
“I believe the Pick 6 with this low takeout will appeal both to customers that favor a more traditional Pick 6 wager and those that are looking for reduced takeout wagers. Moving away from jackpot bets is good for the horseplayer and will bring even more bettors into our pools. The $1 minimum is certain to generate strong payoffs as well as exciting carryover opportunities,” Arrigoni said.
Both of these pari-mutuel wagers require the participant to select in order the winners of consecutive races, five in the Pick 5 and six in the Pick 6, placing the bet before the first race in the series begins. In the event no tickets correctly identify all winners, 75 percent of the pool is carried over to the following racing program and 25 percent is paid as a consolation.
The 2021 season will be conducted on a Sunday, Tuesday, Wednesday, Thursday schedule with additional holiday racing Memorial Day, Labor Day and July 3. Post time on Sundays is 1:00 PM (CDT). Tuesday through Thursday racing begins at 5:00 PM.
