More guaranteed Pick 4 pools set for April
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Schick said two tracks are presently on board to participate. Northfield Park and Balmoral Park will offer guaranteed Pick 4 pools every Saturday night in April, with Balmoral also adding a guarantee on Sunday. The guarantees will be as follows: $10,000 at Northfield, $15,000 on Saturdays at Balmoral, and $25,000 on Sundays at Balmoral.
Last October Schick presented his proposal to the USTA executive and finance committees, asking for USTA backing of a plan with a goal of the "retention of the industry's current pari-mutuel wagering base." Schick set forth the following objective for his plan: "to develop as many liability-free, guaranteed-pool wagers across a broad range of racetracks, days and time zones."
Between October and March, Schick and the specially-appointed committee analyzed handle figures. “We evaluated handles based on non-guarantees, and we think based on current handle that we can see 20-30 percent increases in pool sizes,” he said.
Schick said funding for the initiative is presently $100,000, with $75,000 coming from the USTA. “We have a shorter bankroll than we had hoped, but if we can get three tracks on board—we’re hoping to get another track--for April and run relatively smoothly, we’ll be happy,” he added.
Schick’s plan calls for any shortfalls in meeting the pool guarantees to be covered as follows: 50 percent from the initiative's fund and 50 percent by the host racetrack/local horsemen’s association.