While I was solving a NYT crossword from 2021, one of the clues was “____ Spirit, 2021 Kentucky Derby winner.” Having difficulty figuring out the answer, I decided to cheat, and asked Siri who was the winner. The response was “Mandaloun.”
After finishing the puzzle (the answer to the clue was “Medina,” btw). I went to Wikipedia to learn who Medina Spirit was. I learned that Medina Spirit was first across the finish line in May, 2021, but was disqualified in February, 2022.
So, who collected on their bets that day? Did Churchill Downs just hold onto the money for nearly a year?
Payouts of race bets are based on the declaration of the winner as made by the organisers on the day of the race itself (usually immediately thereafter). Subsequent disqualifications don’t affect the bets, because those will have been paid out already. They can, however, delay the official declaration of the winner if there is suspicion of foul play pending an investigation, and then hold bets pending that. I’m not sure if this was done in the Medina Spirit case.
Right. Once the race has been declared official and prices posted, any further change in positioning means nothing, except to the owners, who share in the purse. Bettors who won on the official results as declared on the day, won; bettors who lost, lost. Regardless of subsequent changes in order, especially a few months later.
Read the fine print in the track program or the Racing Form. This situation is explained there.