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Churchill Downs to Market-Test New Matrix Wagering Format
(June 9, 2008) – Churchill Downs will begin testing a new wagering format with on-track customers Wednesday that allows patrons to bundle win, exacta and trifecta plays at a lower price per bet.
Called “The Matrix,” the unique format, which costs a minimum total of $9, enables bettors to name three horses on one ticket, which in turn provides them with 15 combinations featuring those three horses. If any of them wins, two of them run one-two, or all three of them run 1-2-3, the player collects an increasing payout for the number of correct selections.
“The Matrix is racing’s first package bet, offering up a large number of possibilities for a bundled price that starts well below what the entire package would usually cost,” said Churchill Downs Incorporated Vice President Tom Aronson. “It also allows players to set their own price anywhere above that minimum, which helps take the guesswork out of how much a ticket with a lot of combinations will ultimately cost.”
When the Matrix is played, the United Tote system fractionalizes the total amount of the wager and places an equal amount into the win, exacta and trifecta wagering pools. (The Matrix is not a separate pool wager.) In the case of the $9 minimum, the system actually places 60 cents on each of the 15 bets.
Winning Matrix tickets will have either win, win-exacta, or win-exacta-trifecta payouts totaled up in the payout.
“We’re launching an on-track-only market-test of The Matrix for the remainder of the Spring Meet to see if the convenience appeals to our customers,” Aronson said. “Just like the Super Hi-5, which has been a very popular introduction for us this meet, we’re excited to see what people think about the Matrix.”
Only customers at Churchill Downs will be able to wager on the Matrix, and it will only be available on Churchill Downs’ live races.
The 52-day Spring Meet continues through Sunday, July 6.