Explanation of Jock Mount Fees Posted On:Jul 10, 2011 | Posted By:Glen
Dear Fellow Horsemen,
As a means to increase field size and to better accommodate our owners, the ITHA has agreed to an experimental program, which is effective Thursday, July 7th. This program will effectively pay jockey mount fees and hopefully off set a sluggish handle, which is having a negative effect on the purse accounts. The ITHA will always endeavor to better serve our members and to protect and grow the purse account.
With the condition book effective this Thursday, July 7th, the following purse distribution calculation will be in place for all non-stakes races at Arlington Park:
1st Place 60% 60%
2nd Place 20% 20%
3rd Place 10% 11%
4th Place 5% 6%
5th Place 3% 3%
6th-Last 2% divided equally with a $100 minimum paid to each losing owner.
Example using a purse of $20,000 with 8 starters:
Step 1 - Calculate losers 2% share of the purse: example $20,000 purse x 2% = $400.
Step 2 - Calculate number of losers: (8 starters - 5 winners) = 3 losers
Step 3 - Calculate losers payment: $400 / 3 losers = $133 to each of the 3 losers
If the losers share from Step 3 is $100 or greater:
Step 4 - Calculate 1st thru 5th against the total $20,000 purse for a total winners share of $19,600
Step 5 - Calculate any breakage: $19,600 from Step 4 + ($133 x 3) from Step 3 = $19,999. 20,000.00 - 19,999= 1.00 breakage.
Step 6 - Award breakage to the winner
If the losers share from Step 3 is less than $100: Reduce the total purse by the difference between the $100 minimum losers payment and 2% of the purse. See next example.
Example using a purse of $14,500 with 8 starters (see race 4 on attached sheet):
1. Step 1 - Calculate losers 2% of the purse: $14,500 purse x 2% = $290.
2. Step 2 - Calculate number of losers: 8 starters - 5 = 3 losers
3. Step 3 - Calculate losers’ payment: $290 / 3 losers = $97.00 to each of the 3 losers
Since the losers share from Step 3 is less than $100:
4. Step 4 - Calculate purse adjustment: 2% of purse ($290) less minimum loser payments of $300 = a minus 10.00 adjustment to the purse before calculating 1st thru 5th places: 14,500 - $10 = $14,490
1st place - 14,490 x 60% = 8694
2nd place - 14,490 x 20% = 2898
3rd place - 14,490 x 10% = 1449
4th place - 14,490 x 5% = 725
5th place - 14,490 x 3% = 435
Total winners share = 14,201 + 300 losers - 14,501
The $1 overpayment is deducted from the winners share.
There is an exception to the above in case of a dead-heat for 5th place. Previously, the two 5th place horses would simply split the 5th place purse of 3%. In the new formula, we must take 3% of the 5th place purse plus 1 losers share of the 2% losers share (or the minimum losers share if applicable).
Previously, if there were less than 5 starters the undistributed purse $ were returned to the track purse account. With the new formula, this will apply if there are less than 6 starters. See race 1 on the attachment. In this case, $170 (2% of 8,500) will be returned to the track purse account.
Illinois Owner Awards - Just an advisory that the 40% (Illinois Foaled) or 60% (Illinois Bred) is based on the 1st, 2nd and 3rd place share of the purse. This amount will be reduced to reflect any lowered purse distributions for those places.
Michael B. Campbell
President, Illinois Thoroughbred Horsemen’s Association