Why it’s different
When the Pegasus World Cup Invitational was announced last May, racing enthusiasts and industry insiders immediately took note. “It’s one of the most inventive ideas that horse racing has come up with in a long time,” says Alex Waldrop, CEO of the National Thoroughbred Racing Association.
If the fastest horse is still considered the winner, what makes this race so special? A lot of it comes down to timing and structure:
1. The winnings are generated by investors, not by bettors and waging
In an event like the Kentucky Derby, the winner’s purse is generated by investors after taking into account the entry fees paid by the participants. However, the Pegasus World Cup Invitational stands out in particular for selling the 12 spots in the race for $1 million each to individual investors who are then guaranteed a place at the starting gate, making the first place win worth $7,000,000. Compare that with last year’s Kentucky Derby win at $1,631,600.