Appelbaum Wins Breeders' Cup Contest
Description:
Joe Appelbaum of New York City zoomed from 47th place to first with a big exacta score in the Breeders' Cup Classic to win the $1 million Breeders' Cup Betting Challenge at last week's Breeders' Cup World Championships.
The Breeders' Cup Betting Challenge, Thoroughbred racing's biggest live money tournament, was held November 4-5 at Santa Anita Park, with 396 players participating on site, at satellite locations Aqueduct, Churchill Downs and Gulfstream Park, and online through TwinSpires.com.
In this year's tournament, each player was required to fund a $2,500 buy-in and a $7,500 betting bankroll ($10,000 total). All buy-in monies were applied to the prize pool, plus a minimum of $10,000 in additional funds provided by Breeders' Cup and Santa Anita Park to make the total prize pool $1 million. Players made real wagers (Win, Place, Show, Exacta and Trifecta) with their $7,500 bankroll over the two days (22 races) and kept all monies earned from their wagering. Top prizes were $300,000 for first; $200,000 for second and $110,000 for third.
Going into the Breeders' Cup Classic on Saturday, Appelbaum had to adjust his strategy to get to the top of the heap. "I was originally going to make a win bet on Arrogate, but when I saw his odds drop to 8-5, I had to change those plans," said Appelbaum, who was playing in his fourth BCBC.
Instead of the win bet, Appelbaum bet a $13,000 exacta of Arrogate and California Chrome, which resulted in a $65,000 payout (less a $1,000 penalty), taking him from 47th place to first, surpassing Charlie Davis, who finished second with a score $61,505.
"I was thrilled to win it," said Appelbaum, who took home $364,000 from the tournament. "It's the largest live money tournament and to prevail here I feel incredibly fortunate."
Appelbaum has enjoyed success in racing partnerships and pin hooking through Off the Hook, including pin hooking Informed Decision, who later went on to win the 2009 Breeders' Cup Filly & Mare Sprint. Off the Hook has won 14 graded stakes, including grade one wins by Turbo Compressor and Suburban Handicap winner Zivo.
BCBC Participation and Handle Increases
Participation in the BCBC rose to 396 entries this year, a 23% increase over 2015 when 322 played. A total of 87 entries were registered and played in the tournament online through TwinSpires accounts.
• Total handle in BCBC from all locations was $5,404,000 compared to $4,250,000 in 2015, a 27% increase.
• The Breeders' Cup Betting Challenge on-track handle at Santa Anita Park was $3,500,000 or 17% of on-track handle during Breeders' Cup weekend.
This year's BCBC awarded 15 automatic berths into the 2017 NTRA/DRF National Handicapping Championships in Las Vegas. Appelbaum is now eligible for the $3 million National Handicapping Championship bonus - the largest prize ever offered in the handicapping contest world - which will be awarded if he goes on to win the 2017 NHC which will take place January 27-29.