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Thursday, September 11, 2014

Super Hi-Five Comes to the Meadowlands

Well, jackpot players should be looking forward to November 14 when the Super Hi-Five debuts at the Meadowlands after seeing how well received it was at the WEG tracks.  The Hi-Five will be similar to WEG's in that the jackpot is hit only if one player has the top five horses in the exact location; more than one ticket sold with the correct sequence and you win the consolation prize.  The base price is $.20 and the Hi-Five will be held on the last race of the card.

What makes the Meadowlands Super Hi-Five special?  Well, let's start off with an 8% takeout.  A takeout in single digits which, according to the Meadowlands is equal to the average takeout on slot machines and VLTs.  The Meadowlands hopes this will promote the movement to lower takeout rates overall but they realize they can't reduce takeout rates alone, it needs to be industry-wide.

The other big difference is instead of 45-50% of the pool being carried over to the jackpot when no one (there is no consolation) or more than one player selects the correct sequence, only 25% will be carried over to the jackpot; 75% will be paid out to those who had the correct sequence.  Isolated, it would suggest the jackpot will build slower but with gamblers receiving a bigger reward if they don't hold the sole correct ticket, it should get other players to give the Super High-5 a chance.

Lastly, pending NJRC approval, the last racing card of 2014 will not be a mandatory payout which has traditionally been  the case as it is legally the last day of a race meet.  The only mandatory payout day will be Hambletonian Day; for all practical purposes the last day of the meet.  Unlike WEG, there will be no mandatory payouts due to the jackpot reaching a certain level.

Of course, the downside is jackpot wagers take money out of the pools.  Granted it will be the last race of the night, but it will mean less money available the next racing day.  However, if this is what the betting public wants, you give it to them.

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