Dave Smyth, a financial planner from Lexington, Ky., has been confirmed as the winner of the live-money Breeders’ Cup Betting Challenge, taking home the grand prize of $463,000, Breeders’ Cup officials said Friday.
Combined with his betting haul, Smyth took home a total of $607,800. He solidified his 144,800-point win with an $8,000 daily double pairing the winners of the last two races on Breeders’ Cup Saturday after cashing for $17,500 on the Breeders’ Cup Classic.
“As a handicapper, this was a thrill of a lifetime and a dream come true, and I never imagined I would win the BCBC when my grandmother first took me to Keeneland for a day of fun with friends,” Smyth said in a release.
The Breeders’ Cup Betting Challenge is the largest live-money tournament in racing, requiring a $2,500 buy-in and $7,500 bankroll. There were a total of 643 entries, up 10 percent over last year, Breeders’ Cup said.
Although the totals for the contest were known after the Saturday card had been run on Nov. 1, Breeders’ Cup requires the contest entries to be extensively audited, leading to the delay in the results being made official.
While most handicappers seeking an entry in the BCBC enter tournaments year-round, Smyth won his seat by entering an online tournament “on a lark” while on a racing vacation in Saratoga Springs this summer with his wife and five sons.
“It was kismet,” he said.
Ken McMahan of La Quinta, Calif., finished second with combined prizes and earnings of $448,530. Michael Martinelli finished third, taking home $272,200.
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