Armond touts ‘Single Winner Bonus’ as game changer
CHRISTOPHER Armond, racing director, Supreme Ventures Racing and Entertainment Limited (SVREL), has touted the prospect of a new multi-million dollar pool, the 'Single Winner Bonus', as the game-changer to boost sales at Caymanas Park.
Speaking at Tuesday's press briefing at Caymanas Park to outline SVREL's to meet the expectations of horsemen, while being viable as the new promoter of local racing, Armond explained that a percentage of the takeout, when exotic bets such as the Pick-6 is not won, would fund the Single Winner Bonus pot.
Such a pool, he said, had the potential to swell to millions of dollars, which would hopefully lure bettors from the competition.
The Single Winner Bonus, he pointed out, would have a cap if not won, at which point the entire pool would be paid out on a particular day, irrespective of whether there is an outright winner, meaning, in the case of the Pick-6, a ticket with five winners would be deemed a winning bet.
Declining horse population
Armond also spoke of plans to tweak the claiming system to suit the declining horse population at Caymanas Park.
Infrastructure plans revealed were a new building to house pre-paid boxes and gaming lounges and renovation of the party stand.
Chairman Paul Hoo described the divestment process by which SVREL was awarded the right to operate the Portmore, St Catherine, race track on lease from government as a "humongous effort by a group of 25 persons trying to understand racing and its landscape", adding that the focus was to increase revenues at the racetrack, which was a loss-maker in government's hands.
Brando Hayden, chief operating officer, said SVREL will look to increase purses and, over the next three years, an increase in percentage payouts to punters.
Parent company Supreme Ventures Limited's 1,200 lottery agents across the island will be utilised to ensure punters and prospective bettors in remote areas are given every chance to stake bets on horse racing, Hayden pointed out.
SVREL will stage its first race meet at Caymanas Park on Saturday.