The Pegasus World Cup I and II

William T. Ziemba

Chapter 22 in Exotic Betting at the Racetrack, 2019, pp 359-382 from World Scientific Publishing Co. Pte. Ltd.

Abstract: There are many rich horse races. I was fortunate to be a minor co-owner of Honor Code who was in the 2015 $5 million Breeders’ Cup Classic. He finished third behind triple crown winner American Pharaoh earning a half million dollars. He had won the grade I Met Mile and the grade I Whitney at Saratoga (races I was able to watch live and bet on). He was named top older male dirt horse that year. He went on to stand at Lanes End for $40,000 stud fee, breeding to 145 top mares whose in foal sale prices were the second highest of all new sires behind triple crown winner American Pharoah whose stud fee is listed at $200,000. However, with his so-so pedigree, this is a high price. Rumor has it that there are discounts. After one year, he was shipped to Australia for the off Kentucky breeding season at a much reduced price of A$65,000. One wonders why? I can only think of a few top stallions that were shipped to Australia including Kentucky Derby winners Thunder Gulch and Fusaichi Pegasus. At a reputed $6 or 9 million the owners who bought him as a two year old have more than recouped their investment…

Keywords: Efficient; Inefficient; Racetrack; Betting; Market; Exotic Betting; Race; Handicapping; Strategies (search for similar items in EconPapers)
JEL-codes: A1 C1 L83 (search for similar items in EconPapers)
Date: 2019
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