Official Rules For The 2010 Churchill Downs “Breeders’ Cup Betting Challenge”
1. PLAYER’S BANKROLL:
This is a “real money” Handicapping Challenge. Players will be required to deposit $10,000, of which $7,500 will be the players bankroll for wagering and $2,500 is credited towards the prize pool. At the conclusion of the tournament, any dollar amount remaining in the bankroll – whether it grows to $30,000 or falls to $100 – remains the property of the player. This is a contest of skill to determine the ‘Breeders’ Cup Betting Challenge Champion’.
2. TO ENTER:
A non-refundable deposit of $500 is required to confirm your spot in the Challenge. Entries will be accepted starting on July 15. The $500 will be credited towards your deposit. The tournament will have a limit of 120 entries and only one entry per person will be allowed. Only players earning an entry via an online tournament will receive their deposit back. Please mail check (payable to Churchill Downs) along with an entry form containing your name, address, telephone number, Social Security number and email to:
Churchill Downs
BC Betting Challenge
Attn: Scott Graff
Finance Department
700 Central Avenue
Louisville, KY 40208
3. FORMAT:
Tournament races will include only races from Churchill Downs on Friday, November 5 and Saturday, November 6, 2010, including all fourteen Breeders’ Cup Championships races. Wager types permitted are Win, Place, Show, Exacta and Trifecta only. A minimum of $600 must be bet per race on at least 5 races on Friday, November 5, totaling a minimum of $3,000 wagered. Once a player makes the required five bets on Friday at the $600 per race level, they may bet the remaining day’s races with no minimum levels. A player may only bet below the day’s required minimum amount after they have bet the necessary five races at the $600 level. Should a player fail to bet the required minimum number of races (5) at the minimum wager amount ($600) required on Friday’s card, 600 Challenge points (at one point per dollar) will be deducted from the player’s total Challenge score per missed race. The final Challenge race on Friday will be the Ladies Classic, race 10. Players may wager only an amount equal to or below their Challenge point total.
A minimum of $900 must be bet per race on at least 5 races on Saturday, November 6, totaling a minimum of $4,500 wagered. The final race of the Challenge is the Breeders’ Cup Classic, race 11. Should a player fail to bet the required minimum number of races or minimum per race bet total on Saturday’s card, the player will be disqualified and any remaining balance will be returned to the player. No other races may be wagered upon. There are no maximums – players may bet as much as they want, including winnings from their original bankroll, whenever they wish. Once a player makes the required five bets on Saturday at the $900 per race level they may bet the remaining day’s races with no minimum levels. A player may only bet below the day’s required minimum amount after they have bet the necessary five races at the $900 level. There are no caps on payouts. The player with the highest Challenge score after the last race on Saturday is the Grand Prize winner.
4. PRIZES:
$2,500 will be credited from the deposit towards the prize pool (no exceptions). 100% of the prize pool will be paid out in prize money plus a minimum of an additional $25,000 provided by the event. Prize money will be paid to the top 10 finishers in the contest. Based upon a maximum 120 entries, the total prize pool will be $340,000, which includes $40,000 added:
First Place = $175,000 Sixth Place = $7,000
Second Place = $65,000 Seventh Place = $7,000
Third Place = $30,000 Eighth Place = $7,000
Fourth Place = $20,000 Ninth Place = $7,000
Fifth Place = $15,000 Tenth Place = $7,000
The attached prize money distribution list provides details based upon the number of players.
The top six official finishers will each receive entry into the 2011 DRF/NTRA National Handicapping Championship in Las Vegas, courtesy of Churchill Downs. A $500 travel stipend will be awarded to each person to cover hotel and other expenses for the DRF/NTRA event. If for any reason one of the top six official finishers cannot attend or has already qualified for the NHC, the next highest placing contestant will receive the entry and travel stipend. Only 6 NHC spots and 6 travel stipends will be awarded. Depending on a particular situation, Churchill Downs and Breeders’ Cup may assign an alternate qualifier. This is an official NHC Tour event and players earn Tour points in accordance with Tour rules and policies. Players must be Tour members to earn Tour points. It is the NHC Tour Member’s responsibility to notify tournament officials that he or she is a member of the Tour before the start of the Breeders’ Cup Betting Challenge.
5. PLAYER CARDS:
Each participant will be issued a player card to be used for all tournament wagers. This account-wagering card contains the “real money” bankroll of $7,500. Upon receipt, participants should test the card in self-service machines to become familiar with placing wagers and insure it is working properly. If a player loses his/her card or the card is not working, the player should immediately report to tournament officials to resolve the problem. Players must make only tournament wagers on their contest card.
6. PLACING WAGERS:
All wagers must be placed through self-service machines. Wagers will not be accepted through mutuel tellers. Players must place all wagers personally. No person shall directly or indirectly act as an intermediary, transmitter or agent in placing wagers for the player, unless authorized by tournament officials. All official track rulings will apply to wagers placed in the tournament except as otherwise stipulated. The tournament will be based on the official placement and mutuel prices at Churchill Downs. If a player wagers on a track other than Churchill Downs for purposes of the contest, the player will be disqualified.
7. IRS WITHHOLDING:
If winnings less the wager exceed $5,000 and if the winnings are at least 300 times the amount of the wager, IRS withholding will automatically be deducted from the player’s card. Whereas, for contest scoring purposes, the gross amount of the winning wager will be recorded in the player’s score. Please note for purposes of wagering in the contest, only the net amount (the amount received after the IRS withholding) will be available to the player.
8. SCRATCHES:
If a horse is scratched after a wager is placed, it is the player’s responsibility to change his/her selection prior to the race subject to all other contest wagering rules. In the event a player is not able to change his/her selection due to a late scratch (within 10 minutes to post) which prohibits the player from wagering on the minimum amount of races on Friday or Saturday, the player will have the amount not wagered, up to the required per race, deducted from the player’s final Challenge score. However, this amount will not be deducted from the player’s personal bankroll. No penalties will be assessed on player wagers involving any horses ruled as non-starters by stewards.
9. TIES:
In a result of a tie between any of the top ten finishing positions, the prize money will be divided equally among the players involved. If there is a tie for sixth place and final NHC Championship berth, the player with the most money earned in the Classic (last Challenge race) on Saturday will be declared the winner. If there is still a tie, the most money earned in the second to last race on Saturday, etc., until a winner is declared.
10. CONTEST STANDINGS:
Officials will endeavor to post the standings after each race of the tournament on Friday and Saturday. Issues related to IRS withholding, late scratches or other matters could delay the posting of the scores. All standings are unofficial until the final results are audited and posted. Players are encouraged to maintain an accurate record of their wagers and scoring.
11. AGE INELIGIBILITY / DISCLOSURE:
Players must be at least 18 years of age to participate in the Breeders’ Cup Betting Challenge. Players must be at least 21 years of age to participate in the 2011 National Handicapping Championship (NHC) in Las Vegas. If a player will not be 21 by the start of the 2011 NHC, the next highest BCBC finisher will take his/her place. The following are ineligible to participate in this contest: Churchill Downs employees or any of its subsidiaries; members of the Kentucky Racing Commission; licensed trainers; employees of United Tote, Breeders’ Cup Limited and the National Thoroughbred Racing Association. If anyone has any ownership interest in any horses running in any of the applicable tournament races then all involvements must be fully disclosed in advance to tournament officials.
12. TAXES:
Liability for any and all federal, state, and local taxes is solely the responsibility of prize winners.
13. AFFIDAVITS:
Affidavits confirming compliance of all the rules of this contest will be required of all players. All prizewinners acknowledge that if they enter this contest under a fraudulent name and/or Social Security number, they will be immediately disqualified from this and all future contests held by Churchill Downs. Positive identification is required of all prizewinners. Positive identification is a valid government issued ID with a picture and the same address and birth date used on the entry forms, and/or such other form of identification as deemed adequate by contest officials. Social Security information is also the responsibility of the player.
Contestants shall play only one entry. Collusion or consolidation of entries is prohibited, as is any attempt to manipulate the results of the tournament.
14. JUDGING AND DISPUTES:
The management of Churchill Downs and Breeders’ Cup Limited reserve the right to interpret all questions and conditions in regard to this event, without claim for damages or recourse of any kind. The management of Churchill Downs and Breeders’ Cup will decide all questions and definitions covered and not covered explicitly in these rules and their decisions shall be final.
