New penny breakage era begins for bettors at Ellis Park

Post times moved up this weekend due to extreme heat
New penny breakage era begins for bettors at Ellis Park
Published: Jul. 20, 2022 at 12:18 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

HENDERSON, Ky. (WFIE) - Horseplayers can now rejoice as from now on when they win on a bet placed at Ellis Park, they will be getting paid in full.

This is because the new penny breakage era has begun. In the past, every payout was to the exact dime, like $2.50 or $4.30. But now, the payouts are to the exact penny, like $3.48.

Breakage refers to the rounding of payoffs, which in Kentucky had been rounded down to the nearest dime on a $1 bet. Now though, Ellis Park and all other Kentucky tracks won’t be holding back that percentage. They will instead pay the bettor the full winning amount.

“It has been positive. The avid horse bettors love it. They’re going for the show bets, which, the smart money says, you’ll get your best advantage with penny breakage on the show bets,” Ellis Park General Manager Jeff Inman said. “Depending on the bet, it could be 10% you lost to breakage. Now we’re paying true odds, so you’re getting paid to the penny here at Ellis Park and in Kentucky – the first state to do this. We are seeing an increase in our handle. We’ve been up over 30% since we’ve done this.”

The money that was being retained before penny breakage went into effect was going back to Kentucky tracks and the horsemen.

Racing continues at Ellis Park, but due to the extreme temperatures expected this weekend, officials have made some changes.

Officials have moved the post time for the first race to 10:30 a.m. for Friday, Saturday and Sunday.

“Obviously the safety of our racehorses and backstretch personnel is paramount,” said Inman. “By starting more than two hours early, we will avoid the full brunt of the heat. Horses racing at Ellis Park over the decades have demonstrated remarkable resilience to heat, but we will be doing everything we can to ensure they can race safely. In addition to the much earlier start, that includes having multiple water stations and hoses at regular intervals around the track. Our state veterinarian staff will be hyper-vigilant looking for any signs of adverse reactions to the heat and be poised to act immediately. We wanted to go on and make the announcement to give our horsemen plenty of time to rework shipping plans where necessary.”

Copyright 2022 WFIE. All rights reserved.