Computer-assisted wagering accounts, whose significant bets can lead to massive changes in final odds, will be denied access to win pools with two minutes to post at the Santa Anita autumn meeting that begins on Friday.
The plan is a continuation of a policy enacted by Del Mar in late July after several instances in which win prices changed dramatically between the time the field was being loaded into the gate and final odds were determined.
Santa Anita’s policy was announced by a track official, who said the track “will continue the two-minute cutoff in the win pool that was enacted at Del Mar.” Santa Anita did not have such a policy in place at its winter or spring meetings earlier this year.
Major changes in win odds have left some bettors angered when a certain win price is displayed moments before the start of a race and then declines when final prices are determined. There were instances in which heavy bets were placed on horses that were beaten as well.
At Del Mar on July 26, Nanci Griffith was 19-1 as the field was being loaded and had a final price of 6-1 when she won an allowance race. Later that afternoon, Imaboutago was 9-2 as the field entered the gate for the Daisycutter Handicap. She had a final price of 2-1 and finished fourth.
On July 27, there were two notable changes in the Grade 2 Eddie Read Stakes. Stay Hot, who finished third, went from 4-1 to 9-5, while race winner Formidable Man went from 1-2 to 4-5.
On July 29, Del Mar enacted the policy to close win pools to CAW accounts two minutes before post time.
Deep-pocketed CAW accounts provide up to 30 percent of handle on American Thoroughbred races, a vital source of revenue for racetracks. At the same time, smaller bettors have been vocal, particularly on social media, about their anger over late odds movements that have changed the expected returns on winning bets.
The issue of late odds changes is not unique to California. 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 two minutes to post.
The 16-day Santa Anita meeting runs from Sept. 26 to Oct. 26.
:: Want to learn more about handicapping and wagering? Check out DRF's Handicapping 101 and Wagering 101 pages.