Colonial Downs lowers Pick-5 takeout * The Racing Biz

Colonial Downs lowers Pick-5 takeout

Press Release
June 8, 2022

When the Colonial Downs Racing presented by Woodford Reserve season gets underway on July 11 there will be “More Racing and More Money” available for the wagering public as the New Kent, Va., racetrack lowers the takeout rate on its Pick 5 wager to just 12% and the bet will offer a carryover provision for the first time. The wager will have a minimum 50-cent base.

The Pick 5, which will be offered on the last five races each day, will pay out 100% of its net pool to those bettors correctly selecting all five winners in the sequence. On days when nobody picks all 5 winners, 25% of the net pool will be paid to those who correctly selected the most winners while the remaining 75% will be carried over to the following day’s program.

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During the previous three seasons when the Pick 5 was offered with no carryover provision there were six occasions in which nobody selected all five winners.

The Pick 5 highlights a wagering menu that includes two Pick 4’s. The Early Pick 4 will cover races 2-5 while the Late Pick 4 will encompass the final four races each day. Colonial Downs will also offer rolling Daily Doubles and rolling Pick 3 wagers starting with the 1:45 p.m. first race each Monday, Tuesday, and Wednesday.

In addition, every race will have Win, Place, Show, Exacta, Trifecta, and Superfecta wagering. The minimum wager for Win, Place, and Show wagers is $2; the Exacta and Daily Double will offer a $1 base; Trifectas, Pick 3, Pick 4, and Pick 5 wagers can be played for as little as 50-cents; and the Superfecta will have a 10-cent minimum.

Now in its fourth year under the management of the Colonial Downs Group and ownership of Peninsula Pacific Entertainment ─ and as further proof of Colonial’s progress in the Middle Atlantic region ─ Colonial Downs will offer a record of more than $600,000 in daily average purses, punctuated by an expanded stakes schedule and increased purse monies in open races, and for Virginia-bred, sired, and certified horses. As an additional benefit to horsemen, maiden special weight (MSW) races during the meeting will carry a $60,000 purse.

Colonial Downs kicks off its 2022 season on Monday, July 11 and will continue through Wednesday, September 7. The 27-day meet is highlighted by an expanded stakes schedule topped by the Grade 3 $300,000 New Kent County Virginia Derby which will be run on Tuesday, September 6 on a card that will also include the $200,000 Woodford Reserve Virginia Oaks, the $150,000 Thoroughbred Aftercare Alliance Da Hoss Stakes, the $125,000 Exacta System’s Rosie’s Stakes, and the $125,000 Woodford Reserve Kitten’s Joy Stakes.

Other key days during the season are Tuesday, August 16 when four $150,000 stakes will be presented as part of the Mid-Atlantic Thoroughbred Championship Series (MATCH) as well as the opening day card with four stakes for Virginia-bred/sired horses and the closing day program featuring four stakes for Virginia-restricted runners.

All Colonial Downs races will be televised on TVG.