McGoey wins Breeders’ Cup betting challenge, collects $270,600 from a $100 buy-in

by | 11.06.2011 | 3:56pm

After two days of improbable upsets and some of the highest payouts in Breeders' Cup history, perhaps none was more so than the victory by Patrick McGoey in the Breeders' Cup Betting Challenge.  In its third year, the BC Betting Challenge saw 115 of the country's best horseplayers face-off in a mega-stakes, live money $10,000 buy-in betting tournament.

McGoey won first place in a dramatic come-from-behind effort in the last race of the contest by wagering $7,000 to win on Drosselmeyer in the Breeders' Cup Classic.  Drosselmeyer's victory at odds of $14.80 to 1 resulted in McGoey's $7,000 win bet returning $110,600.  Combined with the first place winnings of $160,000, McGoey took home $270,600.

McGoey, of New Orleans, had earned his spot in the BC Betting Challenge on May 28 by defeating 90 other players in a $100 qualifying event for the Challenge at  Elated by his victory McGoey said, “Everything fell into place perfectly to be in a position to make the bet on Drosselmeyer and watching his closing kick coming down the Churchill Downs stretch was tremendous.  Knowing that I turned a $100 online qualifying spot into $270,000 is a fantastic feeling.”

Christian Hellmers of Los Angeles California finished in second place, winning $121,700.  Hellmers held the contest's lead over the last four races until Drosselmeyer's and McGoey's last race theatrics.  John Allunario won $78,480 by finishing third in the event.  Allunario also qualified in a on October 1 in a $400 online event.

“The Betting Challenge has quickly become the 'go to' tournament for horseplayers throughout North America,” said Kenneth Kirchner, the tournament's administrator for Breeders' Cup.  “The BCBC has grown by fifty percent in just three years and we are working to expand the opportunities for players to qualify at more racing facilities and sites for next year's contest.  I believe there is tremendous upside for this event in future years.”

The BC Betting Challenge requires a $10,000 buy-in per player, with $2,500 going towards the prize pool and $7,500 towards the player's two-day betting bankroll.  Total prize money was $315,000 with cash prizes to the top ten finishers.

The final order of finish with the prize money and earnings:

Patrick McGoey  $270,600

Christian Hellmers  $121,700

John Allunario  $78,480

Donald McNeil   $51,600

Tracey Hauth  $41,168

Daniel Slattery  $35,951

Ross Gallo  $29,612

Cary Fotias  $26,170

Durwood Ashcroft  $24,082

Lee Field   $23,949

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