What is a Carryover?
A carryover refers to the winnings in a type of bet which takes place when a race track specifies a group of races, usually 4, 5 or 6, with the intention of paying out to a bettor who manages to pick the winner in all of the featured races. As demonstrated by the winnings generated by an accumulator, choosing multiple winners in this way is far from easy, and the racing day often ends without anyone winning the pot of money which has been wagered. In this case, the money is carried over to the next day’s racing, and can soon build up to a sizeable sum.
How is a Carryover used in Sports Betting?
Online sports betting allows individuals to place bets in events all over the world, covering every type of sport. As such it is easy to keep track of carryover jackpots as they grow at tracks and race meetings around the world. At US tracks, such bets are known as a Pick 4, Pick 5 or a Pick 6, while at UK tracks they are more likely to be called a Scoop6. Whilst the odds are clearly against any individual selecting multiple winners it is far from impossible, and carryovers open up the possibility of very large pay-outs from relatively small initial wagers. In contrast with other forms of multiple betting such as a double or an accumulator, the pay out of a carryover isn’t dependent on the odds of the horses running the race, although 5 or 6 favourites winning may well result in more people having to share the pot of money.
One variation of a Pick 5 is known as a Pentafecta. In this more difficult bet the winner has to choose the first five horses in a particular race and choose them in order. As befits such a difficult task, the jackpots to be won often swell to five or even six figures.