The Pick 6 and the Rainbow Pick 6

William T. Ziemba

Chapter 22 in Sports Analytics, 2022, pp 383-409 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The $2 Pick 6 is too expensive for most bettors to have a decent chance of winning. So it’s been more or less replaced by the Rainbow Pick 6 except in Belmont which has a $1 Pick 6. Chapter 23 discusses an interesting Pick 6 at Belmont. In the Rainbow, the tickets cost 20 cents, on tenth of the ordinary Pick 6, and the first prize is a lottery like unique Pick 6 that generates large carryovers. Second prize is the ordinary Pick 6. Splits vary, for example Gulfstream is 60–40 which yields huge carryovers in the millions and Churchill Downs is 10–90 which yields more or less an ordinary Pick 6 at low prices. I discuss some of these and strategies to play ordinary and forced payout days.

Keywords: Sports Analytics; Statistical Analysis of Sports Decisions; NFL Football; Thoroughbred Racing; Basketball; Baseball; Hockey; Jai Alai; Optimal Betting Strategies; Mean Reversion Risk; Arbitrage; Decision Strategies by Coaches (search for similar items in EconPapers)
JEL-codes: C1 L83 Z2 (search for similar items in EconPapers)
Date: 2022
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