Breaking the Bank: Rainbow 6 Edition


Breaking the Bank - featuring data courtesy of Equibase - highlights the biggest scores of the past week in racing. (Photo by Eclipse Sportswire)

Ask Chicago Cubs fans or horseplayers who spent the weekend handicapping Monday’s card at Gulfstream Park – the date of the much-publicized mandatory Rainbow 6 payout – about old adage “good things come to those who wait.”

While there are certainly some instances when patience pays off, it seems life in general rewards people who see an opportunity and kick the door open.

Longtime handicapper and racehorse owner Dan Borislow did just that on Sunday.

While the majority of the betting public was buried in the past performances for Monday, which Gulfstream announced earlier this month would feature a mandatory payout, Borislow took a chance that he might be able to catch horseplayers napping and targeted the Rainbow 6 a day early.

For those of you not familiar with the Rainbow 6, it is a multi-race bet with a 20-cent minimum that requires gamblers to select the winners of six consecutive races. The Rainbow 6 is a jackpot Pick 6 wager that pays out only when there is one winning ticket. If nobody has all six winners in the sequence or if more than one person correctly selects all six winners, a portion of the money bet into the day’s Rainbow 6 pool, plus the money already carried over, rolls into the jackpot for next card. The Rainbow 6 had not been hit since Jan. 10 leaving a jackpot carryover of just under $6.4-million for Sunday’s card.

The mandatory payout, which Gulfstream said had been requested by many of its horseplayers, would have meant that the jackpot would have been paid out regardless of how many winning tickets were purchased. That meant that this Pick 6 would essentially have started with about $6.5-million in up-for-grabs money and several estimates suggested the total pool would have surpassed $15-million.

Borislow, inventor of the magicjack phone system, had a different idea after analyzing Sunday’s card. He bought every race but one on Sunday’s card by using the “All” button that gives a bettor every betting option in the race and he was correct on the one race in which he took a stand.

“I thought this would be a good day because everybody was waiting for tomorrow, and I thought today was my chance to get it by myself,” Borislow told the Miami Herald.

The winning ticket cost $7,603.20 and paid $6,678,939.12 for a return of about 848 times the cost of the winning ticket that was purchased at Palm Beach Kennel Club.

According to Daily Racing Form, Borislow purchased two tickets, both for $7,603.20, with two different horses keyed in the sixth race, so the return was actually closer to 424 times the cost of Borislow’s two tickets. Either way, the result was a record payout.

The Rainbow 6 got off to a good start for Borislow with 16.90-to-1 Bagration, the second-longest shot in the field, winning Race 3 and Cajun Breeze winning Race 4 at 10.30-to-1 odds. After Little Bart (5.40-to-1), Signofaffection (4.20-to-1) in the race Borislow targeted, and Cajun Sunrise (3.80-to-1) won the next three races, Borislow connected on the life-changing jackpot by the slimmest of margins when Callana held off Russian Knight by a nose to win at 5.40-to-1. Had Russian Night prevailed, there would have been more than one winning ticket and the Rainbow 6 would have carried over to mandatory Monday.

Dream-crushing word of the winning Rainbow 6 ticket spread like wildfire on Twitter as horseplayers and fans were once again reminded that anything can – and does – happen in horse racing.

Top Payouts for the Week Ended May 25
Wager  Wager Amount   Payoff  Track Date Race#
Win  $2.00  $112.80 SA 5/24/14 8
Place  $2.00  $90.20 EVD 5/22/14 6
Show  $2.00  $85.80 PIM 5/24/14 9
Exacta  $1.00  $231.30 SA 5/24/14 8
Exacta  $2.00  $1,619.80 SRP 5/24/14 4
Quinella  $2.00  $630.00 LBG 5/25/14 5
Trifecta  $0.50  $308.80 AP 5/25/14 5
Trifecta  $1.00  $3,250.10 GP 5/24/14 9
Trifecta  $2.00  $29,234.40 IND 5/20/14 9
Superfecta  $0.10  $5,842.87 LS 5/23/14 1
Superfecta  $0.50  $1,562.00 EMD 5/24/14 6
Superfecta  $1.00  $100,407.20 WO 5/25/14 10
Superfecta  $2.00  $109,659.60 IND 5/20/14 9
Daily Double  $1.00  $195.00 CBY 5/23/14 8
Daily Double  $2.00  $1,469.20 SUF 5/24/14 8
Pick 3  $0.50  $622.90 BTP 5/24/14 5
Pick 3  $1.00  $3,488.60 LS 5/23/14 4
Pick 3  $2.00  $7,313.00 FL 5/23/14 9
Pick 4  $0.50  $7,538.75 SA 5/24/14 9
Pick 4  $1.00  $9,165.30 CBY 5/23/14 8
Pick 4  $2.00  $18,321.00 BEL 5/21/14 5
Pick 5  $0.50  $27,527.60 MTH 5/25/14 12
Pick 5  $1.00  $2,743.50 HST 5/25/14 8
Pick 5  $2.00  $36,870.00 BEL 5/21/14 5
Pick 5 Jackpot  $0.50  $1,986.60 LAD 5/23/14 9
Pick 6  $0.20  $673.34 LS 5/24/14 9
Pick 6  $0.50  $5,471.15 CD 5/23/14 10
Pick 6  $1.00  $7,550.90 LS 5/23/14 9
Pick 6  $2.00  $113,539.00 SA 5/24/14 9
Pick 6 Jackpot  $0.10  $556.33 CRC 5/23/14 8
Pick 6 Jackpot  $0.20  $6,678,939.12 GP 5/25/14 8
Super High Five  $0.10  $7,112.55 LS 5/23/14 9
Super High Five  $1.00  $91,906.40 GP 5/25/14 8
Super High Five  $2.00  $17,597.20 MNR 5/21/14 9
Click here for a complete list of racetracks with abbreviations.

© 2014 Equibase Company LLC, all rights reserved. Data provided or compiled by Equibase Company LLC generally is accurate, but occasionally errors and omissions occur as a result of incorrect data received by others, mistakes in processing and other causes. Equibase Company LLC disclaims responsibility for the consequences, if any, of such errors, but would appreciate their being called to their attention.  

Commonly Used Gambling Terms

Account wagering – Betting by internet or phone, in which a bettor must open an account and deposit money with which to bet.

Across the board – A bet on a horse to win, place and show. If the horse wins, the player collects three ways; if second, two ways; and if third, one way, losing the win and place bets. Actually, three bets.

Bounce – An especially poor performance on the heels of an especially good one.

Box – A betting term denoting a combination bet whereby all possible numeric combinations are covered for certain horses.

Bridge jumper – A person who wagers large amounts of money, usually on short- priced horses to show, hoping to realize a small but almost certain profit. The term comes from the structure those bettors may seek if they lose the bet.

Chalk – Betting favorite in a race.

Chalk player – Gambler who wagers on favorites.

Daily Double (or Double) – Type of bet calling for the selection of winners of two consecutive races.

Exacta – A wager in which the first two finishers in a race, in exact order of finish, must be picked.

Exacta box – A wager in which all possible combinations using a given number of horses are selected.

Exotic (bet) – Any bet other than win, place, or show that requires multiple combinations. Examples of exotic wagers are trifecta, Pick 6, Pick 4.

Handle – Amount of money wagered in the pari-mutuel system on a race, full day of races, or entire racing season at a track.

In the money – A horse that finishes first, second or third.

Key horse – A single horse used in multiple combinations in an exotic bet.

Morning line – The starting odds set by the track handicapper.

On the board – Finishing among the first three.

On the nose – Betting a horse to win only.

Overlay – A horse whose odds are greater than its potential to win.

Pari-mutuel – System of wagering where all the money is returned to the bettors after deduction of track and state percentages.

Parlay – A multi-race bet in which all winnings are subsequently wagered on a succeeding race.

Part wheel – Using a key horse or horses in different, but not all possible, exotic wagering combinations.

Pick (6 or other number) – A type of multi-race bet in which the winners of all the included races must be selected. Pick 3, Pick 4, Pick 5, Pick 6 are commonly used by tracks in the United States.

Place bet – A bet on a horse to finish first or second.

Quinella - Bet in which the first two finishers must be picked in either order.

Show bet – A bet on a horse to finish in the money; third or better.

Speed Figure – A metric that rates a horse’s performance in a race, which is determined by a combination of the horse’s performance and the level of competition he/she competed against.

Trifecta – A bet in which the first three finishers must be selected in exact order.

Trifecta box – A trifecta wager in which all possible combinations using a given number of horses are bet upon.

Underlay – Horse whose odds are more promising than his potential to win.

Win – A bet on a horse to finish first.

Wheel – Betting all possible combinations in an exotic wager using at least one horse as the key.

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