Jessica Chapel / Railbird

Classic Santa AnitaMucho Macho ManWise DanClassic GarlandDeclaration of WarWise DanVerrazano

Pricing

Tom LaMarra on simulcasting fees and Churchill’s recent takeout hike:

I’m no math whiz, so correct me if I’m wrong. In the case of Churchill, if its host fee remains the same, a rebate shop and its customers get to keep the extra 3 percentage points when the exacta takeout goes from 19% to 22%.

If you operate a rebate shop or are a large importer of simulcast signals, higher takeout is money. That may explain why racetracks, rebate shops, and [ADWs] don’t complain about 30% trifecta rakes: If they pay the sender 3% for the signal, there’s 27 cents per dollar to play with before taxes.

Matt Hegarty on how those cents might get shared:

If simulcast rates do not go up at the same rate as the takeouts, then some players may not feel the full impact of the hikes. Many account-wagering operations, including Churchill’s mammoth twinspires.com and an offshore site the company bought several years ago, offer rebates to players, and some sites may elect to forgo the additional revenue to increase the rebates to their players on the Churchill signal. Many rebated players, including those who use automated systems employing algorithms to determine their wagers, are highly sensitive to takeout rates.

The Wicked Favorite

… it’s hard not to see a little Red Sox in the dark brown colt.”

If Wood winner Wicked Strong goes to the Kentucky Derby as anticipated, his story will be huge, and not only in the city he’s named to honor. It might even bump that of California Chrome, Art Sherman, and Swaps (remembered fondly in conversation by Sherman and jockey Dave Erb at the Blood-Horse.)

The Standings

Next weekend’s Lexington Stakes at Keeneland is the last race on the points schedule, but the 2014 Kentucky Derby prep season is essentially over. Dance With Fate, reportedly unlikely for the Derby, won the Blue Grass on Saturday with a Beyer speed figure of 97. The little-regarded Danza upset the Arkansas Derby, earning a Beyer of 102. At 41-1, the colt is now the highest-price winner from trainer Todd Pletcher’s barn in the past five years, according to DRF Formulator, taking over that distinction from last year’s Kentucky Oaks winner at 38-1, Princess of Sylmar. [I called Danza the highest-price Pletcher winner ever earlier, but that's wrong: Forty Ninth Street, a 50-1 MSW winner at Belmont in 1997 (PDF), is. Thanks for the tip/correction to @o_crunk.]

Charts, replays, and Beyer speed figures for all the winners are in the big prep spreadsheet. Here are top 25 contenders by points:

For comparison, I included the top 25 by non-restricted graded stakes earnings, or, the pre-points scale for Kentucky Derby entry, in the chart above. There aren’t too many differences: Strong Mandate and Casiguapo (#30 and #37 in points) would be securely in on earnings, General a Rod and Medal Count would be on the bubble/AE list instead of Uncle Sigh and Vinceremos.

4/14/14 Addendum: Churchill Downs’ audited leaderboard (PDF).

Wise Dan’s Return

The Horse of the Year is set to make his first start of 2014 today, and:

“If he is going to be vulnerable, this is it because the others that are in there have been running,” [trainer Charlie] LoPresti said.

True, but he’s also a returning champion. The odds are good that he’ll win. In 2010, I found that returning champions beat the winning favorites average by a significant margin when they made their first starts of a new season.

The stats for returning champions are now updated through 2012: You can view the numbers and complete spreadsheet via Raceday 360. There are a couple of changes in this year’s version: I restricted the data to only starts made in North American races with wagering (horses who returned in non-wagering exhibition races and foreign races were excluded, as were steeplechase champions). I also broke out the numbers by division and decade this year, as well as by class, which revealed a few interesting tidbits.

One thing I left out of the R360 post, but wanted to make note of, is that all champions, not only the favored, won or finished in the money in 186 out of 228 races (or 82% of starts). Be sure to include them in your exotics.

The original data, including all champions named from 1971-2012, and not only those who returned to race, can be downloaded as an Excel file.

4/12/14 Update: And Wise Dan wins the Maker’s 46 Mile at Keeneland. Here’s the returning Horse of the Year chart, updated:

That brings the returning HOTY record to 18 wins from 23 starts (18 wins from 22 favored), for a total payout of $49.10 on $46 bet.

The CC-BB Connection

Dick Jerardi on this year’s likely Kentucky Derby favorite:

Go back six years. Other than the experience factor (it’s hard to believe that California Chrome has run 10 times …), I see Big Brown all over again, a really good horse against a far less talented and inconsistent group.

The same thought has crossed my mind. For a refresher, here’s how the 2008 Kentucky Derby field stacked up, Beyer speed figure-wise, in their final two preps and then in the Derby (listed below in order of finish):

Big Brown’s double 106-106 stood out then, and stands out now, much as California Chrome’s 107-108 Beyers do this year:

For comparison, I included the TimeformUS figures for the last two races of the top eight Kentucky Derby points leaders. On that scale, California Chrome is not the topper to date, but his figures are both consistent and easily put him within range of the “typical” TimeformUS winning Derby figure of 115. If you were only handicapping the Derby with ratings, California Chrome looks like a worthy favorite whichever numbers you use. But Brian Nadeau has a few reasons for why you might want to consider some other factors.

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