Bet pays $4.94M

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 Default Bet pays $4.94M in Puerto Rico
Updated: March 19, 2010, 11:52 AM ET

Bet pays $4.94M in Puerto Rico

By Matt Hegarty
Daily Racing Form

Camarero Race Track in Puerto Rico paid out $4.94 million to a single winner of its Poolpote, a pick six-type bet, on Monday, an amount that exceeds the record payout for a pick six in the U.S. but is only one-third of the record for the Poolpote in Puerto Rico.

Like the U.S. pick six, the Poolpote requires a bettor to pick the winner of six consecutive races. However, the Poolpote only pays out its full jackpot if a single bettor holds the winning ticket. If multiple bettors have winning tickets, a consolation payout is made, and the pool carries over.

According to Camarero, the winning ticket on Monday cost $10.30. The minimum wager for the bet is 35 cents.

The all-time record for a Poolpote payout was $14.2 million, distributed on March 7, 2007, which is believed to be a Western Hemisphere record for a horseracing payout. The winning bettor in that case purchased a $270 ticket. Later that year, a single winner won $6.2 million.

The record U.S. payout for a pick six is $3,120,256, set on Feb. 18, 2008 for a sequence at Santa Anita. The winning bettor spent $4,320 on the ticket.