ARCADIA, CA – NOVEMBER 5: Arrogate #10, ridden by Mike Smith, wins the the Breeders’ Cup Classic ahead of California Chrome #4, ridden by Victor Espinoza, during day two of the 2016 Breeders’ Cup World Championships at Santa Anita Park on November 5, 2016 in Arcadia, California. (Photo by Bob Mayberger/Eclipse Sportswire/Breeders Cup)
Because California Chrome has committed to making an appearance at the $12 million Pegasus World Cup at Gulfstream, all anyone can talk about is the possible rematch between Chrome and Arrogate. The horse racing live odds for such a match would definitely get fans talking.
The Breeders Cup Championship is done, which means it is time to look forward. Chrome and Arrogate will return to training for their potential rematch. The Pegasus World Cup will take place in January 2017.
And because it boasts the largest prize in racing, the Pegasus Cup is bound to attract some truly impressive competitors. The Pegasus Cup’s financing format will differ from the average graded stakes race. There will be 12 starters. Each starter’s connections will be expected to put up a $1 million stake.
It will be up to the purchaser of the stake to sell, share, else, contract, or race the stake. It is also worth noting that the connections will get an equal share of the net profits from facets like the sponsorship of the race and media rights.
Some people were a little anxious about the Pegasus cup primarily because of the money at stake. The $12 million dollar purse drew comparisons with the Dubai Meydan Racecourse where money took center stage.
Nothing is wrong with such large purses, to begin with; however, in the case of Dubai, the alignment of the best interests of the horse owner and horseplayer was eliminated.
There was too much of a reward offered for not winning the race. You had horses in positions as low as number six being offered some truly substantial checks and that, naturally, attracted a number of unimpressive competitors.
The Pegasus Cup (and Stronach Group) should be commended for noting this issue and taking steps to address it. Fans can look forward to a glorious racing event because of the unique purse distribution.
While the winner stands to make $7 million, everyone below the third position will have to do with $250,000. The event wants to separate the winner from those that simply participated.
With the rewards having been so thoroughly reduced, especially for those below the third position, owners will be a little circumspect about the prospect of entering this event, especially when they have to pay a million dollars to get in.
The Pegasus Cup has worked to ensure that the gambler and the owners have their interests perfectly aligned. The standard purse distribution scheme would have seen those at the bottom of the list accrue some rather impressive but underserved odds.
The financial interests of the owners and those of the track are also aligned because of the sharing of net profits.
California Chrome’s owners have already put up their $1,000,000. Chrome has already begun undergoing training for the Pegasus Cup. Arrogate could still compete, though only if they purchase an entry from an early subscriber.
This is what the horseracing arena wants, a rematch between these two giants. The Pegasus cup is the perfect platform; though the new scheme has attracted some criticisms. It isn’t unexpected for a new concept to draw ire and distrust, though.
Eventually, everyone will come to appreciate the Pegasus Cup.
