Computer-assisted wagering accounts, whose massive bets can rapidly change final odds, will be denied access to win pools within two minutes of post time beginning Thursday, Del Mar management announced on Tuesday.
The decision was reached after track officials held meetings on Sunday following a weekend in which win prices in several races changed dramatically between the time the field was being loaded into the gate and final odds were determined.
In a statement released on Tuesday, track president Josh Rubinstein, said, in part, “We had taken steps to encourage CAW players to process their win wagers earlier in the cycle, but it has become clear that we need to take additional measures.
“We will continue to do our best to create a racing and wagering product that appeals to all segments of the horseplayer market.”
There were major changes in win prices on Saturday and Sunday.
On Saturday, Nanci Griffith, winner of the sixth race, went from 19-1 as the field was being loaded to a final price of 6-1. In the day’s ninth race, Imaboutago went from 9-2 as the field entered the gate to 2-1. Imabouttogo finished fourth.
In the following race, the Grade 1 Bing Crosby Stakes at six furlongs, race winner Lovesick Blues was 45-1 as the field was being loaded and had a final price of 18-1.
There were similar instances on Sunday. In the fifth race, Sterling Sea went from 7-2 to a final price of 9-5. Sterling Sea finished fourth in a maiden race as the favorite. In the following race, Theresasilverlinin went from 8-1 to 9-2, and finished second.
Later on that program, Miss Mandalay went from 20-1 to 8-1. She finished second in a turf sprint.
There were two notable changes in odds in Sunday’s main race – the Grade 2 Eddie Read Stakes on turf. Stay Hot, who finished third, went from 4-1 to 9-5, while race winner Formidable Man went from 1-2 to 4-5.
In the day’s final two races, there were significant changes on the odds of the winners. In the 10th race, Tennesseehoneybee went from 8-5 as the field was being loaded to a final price of 4-5. In the 11th race, Hello Kid O Kid O went from 3-1 to 9-5.
Deep-pocketed CAW accounts provide up to 30 percent of handle on American Thoroughbred races, a vital source of revenue for racetracks, according to Daily Racing Form. At the same time, smaller bettors have been vocal, particularly on social media, expressing anger about late movement in odds that changed expected returns on winning bets.
The issue of late odds changes is not unique to Del Mar, and has occurred at racetracks across the nation. Other leading tracks have taken similar measures to the policy that Del Mar announced on Tuesday. In 2021, the New York Racing Association shut off CAW access to win pools with three minutes to post.
Del Mar has completed seven days of its 31-day meeting, which concludes Sept. 7. Racing resumes with an eight-race program on Thursday.
- additional reporting by Matt Hegarty
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