Even if you're strictly a sports betting practitioner, someone who doesn't know an exacta from exact change, it still might be worth your time to take a run at some horse race betting when the windows open for Breeders' Cup XXVI, to be contested this year at Santa Anita Park, Nov. 6-7.
For starters, while football, basketball and baseball basically limit a gambler's winnings to what he wagers, horse race betting allows a person to start the day a pauper and end it a millionaire. Why take 10/11 to when you can get 10/1?
And what sets the Breeders' Cup apart from all other race days—besides $25.5 million in purses spread across 14 races—are the large number of horses in each race. Yes, when it comes to thoroughbred racing, size matters. Full fields mean that more horses are bet which in turn means that many runners who have no shot or are "dead money," help to elevate prices on those horses who do have a chance of standing in the winner's circle. It's what professional horse bettors call "value."
So, where the favorite in a typical eight-horse field might go off at odds of 3/5, that same horse, because of money wagered on other horses in a 12 or 13-horse Breeders' Cup field, might be a significantly more attractive 7/5. Likewise, popular 3/1 shots become 5/1 and 20/1 longshots may be 40/1.
In fact, while the average per race field size in North America in 2008 was 8.17 horses (source: The Jockey Club), the average size of every Breeders' Cup race has been greater than that, often by a significant number of horses. The Classic, the $5 million finale of every Breeders' Cup and one of seven original BC races along with the Turf, Sprint, Juvenile, Juvenile Fillies, Ladies Classic/Distaff and Mile that have been run consecutively for 25 years, has averaged 11.5 starters and an average payoff of $30.60 for a $2 wager. The Turf has averaged 11.6 starters with an average mutual of $21.90; The Sprint has averaged 12.7 runners and a $20.80 return; the Juvenile has averaged 12 colts and a payout of $15.30; the Juvenile Fillies has averaged 11.6 fillies and a pari-mutuel of $16.70; the Ladies Classic, which originally was called the Distaff, has averaged 9.2 starters and an average payoff of $20.80; and the Mile has averaged 13 starters and $19.80.
The bottom line is this: Because of the larger fields and the potential for a major score, you should bet the Breeders' Cup.
Generous fields often have led to very generous prices, including Arcangues, who paid a record $269.20 winning the 1993 Classic. Lashkari paid $108.80 in capturing the 1984 Turf and Sheikh Albadou returned $54.60 to win the 1991 Sprint. Anees lit up the board for a $62.60 payout in the 1999 Juvenile while Caressing was worth $96.00 to gamblers who bet her to win the 2000 Juvenile Fillies. Spain paid $113.80 (Ole!) to claim first in the 2000 Distaff and Last Tycoon returned $73.80 for his victory in the 1986 Mile.
Another reason to play the Breeders' Cup races are the potentially life-changing gimmick wagers. For example, in 1999, the Pick Six payoff on a $2 wager was worth a staggering $3,058,138. In 2003, two fortunate ticket holders each won $2,687,611. In 2006, the return was a "paltry" $1,450,707. Try winning that by betting six football games.
Tracks also usually offer exactas and trifecta wagers galore in addition to a superfecta bet on the final race of the Breeders' Cup, the Classic. Picking the first four finishers of the race in exact order paid $692,907 for $1 in 1999 but last year it was worth "only" $10,236, still not a bad day at the office.
Even if you're not a regular at the track, with its large fields and accompanying value, plus its chance at a life-altering score, horse racing betting should be part of your wagering menu when the Breeders' Cup comes to Santa Anita, Nov. 6-7.
