When a 7-1 shot beats a 20-1 longshot, horseplayers expect fireworks on the toteboard. Instead, on Sunday at Del Mar, the fireworks were more like a wet match.
Dave Portnoy, founder of Barstool Sports and a frequent critic of Computer Assisted Wagering’s influence on racing, posted a photo of the official payouts from Del Mar Race 5 on November 23, 2025, calling the returns “criminal.”
The displayed results show a $1 Exacta of 6-4 paying just $56.10, despite the odds profile strongly suggesting a triple-digit payout in a traditional market.
“I’m trying to stay positive but these payouts are criminal. 7-1 over 20-1 is 56 bucks for exacta?” Portnoy wrote, adding the hashtag #caws, signaling who he believes is to blame.
A Sharp Result — And a Soft Payout
The race featured:
- Winner: #6 at 7-1
- Runner-up: #4 at 20-1
Under normal circumstances, a mid-price winner over a big longshot should produce a windfall for exotic bettors — often well north of $100 for a simple $1 Exacta. Instead, the numbers flashed on the screen were stunningly low across the board:
- $0.50 Trifecta (6-4-8): $125.30
- $0.10 Superfecta (6-4-8-3): $136.23
- $1 Quinella (4-6): $71.00
Portnoy wasn’t alone — bettors across social platforms quickly echoed the same sentiment: the payouts “felt impossible” for the odds combination.
Why Are Payouts Collapsing?
This is the exact pattern horseplayers complain about whenever CAW syndicates hammer pools in the final seconds. Because these computer-driven groups wager with incredible speed, volume, and precision, they can dramatically reshape the toteboard after the public has already placed their bets.
The result: what looks like value on the odds board isn’t actually value when the race is declared official and pools are finalized.
That’s why payouts like this — especially in exotics — have become a flashpoint in the sport’s long-running debate over wagering fairness.
The Moment That Lit Up CAW Twitter
The screenshot Portnoy shared shows a classic CAW-era scenario:
- Outsider horses ran well.
- Bettors expected chaos.
- The board delivered a shrug.
In past decades, a 7-1 over 20-1 result at a major track like Del Mar would have produced one of the best exotic payouts of the day. Instead, the exacta returned less than many on-track bettors spent on lunch.
Portnoy’s frustration immediately energized the CAW reform crowd, who view examples like this not as unfortunate flukes, but as real-world evidence that regular bettors are being priced out of the game.
A Symbol of a Growing Divide
The anger over CAWs isn’t about one race, one payout, or one ticket. It’s about the widening gulf between:
- Everyday horseplayers who bet with instinct, analysis, and experience, and
- Massive automated wagering operations hitting pools with algorithmic force.
When exotic payouts collapse on results that should pay significantly more, the sport loses the trust and enthusiasm of its most loyal customers.
Portnoy may have said he was “trying to stay positive,” but his frustration reflects a larger truth: horse racing cannot afford to keep delivering moments like this if it wants everyday bettors to stick around.
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