Landing a daily double on the last two races of the Breeders' Cup World Championships and earning $607,800 with his victory, Dave Smyth, 50, a financial planner from Lexington, won a record-setting edition of the 2025 Breeders' Cup Betting Challenge (BCBC).
The 17th annual Breeders' Cup Betting Challenge, Thoroughbred racing's biggest live-money tournament, was held Oct. 31-Nov. 1 and drew a record 643 entries, a 10% increase in participation over 2024, as top horse players wagered on the 42nd Breeders' Cup World Championships' two-day program at Del Mar Thoroughbred Club in Del Mar, Calif. A total of 336 entries were live at Del Mar, just one entry short of last year's record participation at the seaside track.
The tournament players generated a record $8,902,863 in wagering handle. Breeders' Cup tournament wagering at Del Mar totaled 22% of the on-track handle.
In the 2025 BCBC, each player was required to fund a $2,500 buy-in and a $7,500 betting bankroll ($10,000 total). All buy-in monies were applied to the prize pool, making a record total prize pool of $1,607,500. Players made real wagers (win, place, show, exacta, trifecta, and daily double) with their $7,500 bankroll over the two days (22 races) and kept all monies earned from their wagering.
Smyth finished with a total score of 144,800 points and combined those earnings with his first-place prize of $463,000 for the $607,800 total. Ken McMahan of La Quinta, Calif., finished second with 139,930 points, and combined with a second prize of $308,600, his total earnings were $448,530. McMahan also played a second entry and finished in eighth place with 82,950 points, and adding a prize pool of $51,400 gave him a second-entry total of $134,350 and total tournament earnings of $582,880. Michael Martinelli finished in third place with 105,000 points. Adding the third-place prize money of $167,200, his total grand total reached $272,200.
In addition to those wagering at Del Mar, players participated in the BCBC from the official satellite location at Santa Anita Park in Arcadia, Calif. Players also participated online at TVG.com - the official wagering partner of the Breeders' Cup - and via Xpressbet.com, Twinspires.com, NYRABets.com (non-New York State residents only), 4NJBets.com (New Jersey residents only), and HPIbet.com (Canadian residents only).
Solving the Breeders' Cup Puzzle
Smyth and his wife, Kerri, who have five sons, were on a trip to the races in Saratoga Race Course this summer to celebrate his birthday when, on a lark, he entered a Horseplayers.com tournament and wound up winning it and gaining a free entry into the BCBC. "It was Kismet," he remembered.
Smyth used a bit of his business approach in the BCBC. "As a financial planner, I put puzzles together," he said.
At the BCBC, Smyth solved the Breeders' Cup puzzle late in Saturday's action.
"I absolutely loved Forever Young," he recalled of the eventual Longines Breeders' Cup Classic (G1) winner. "He had tactical speed and was ready to fire." In addition to betting Forever Young across the board, Smyth went big on a Forever Young-Sierra Leone exacta box, which grossed $17,150.
But an even bigger prize awaited. After not scoring in the FanDuel Breeders' Cup Mile (G1), Race #10, Smyth made an $8,000 Daily Double wager on Nysos in the Breeders' Cup Dirt Mile (G1), joining with the French filly Gezora in the 12th and final race, the Maker's Mark Breeders' Cup Filly & Mare Turf (G1).
That daily double wager raised his total score to $144,800 and made Smyth the 2025 BCBC Champion.
"As a handicapper, this was a thrill of a lifetime and a dream come true, and I never imagined I would win the BCBC when my grandmother first took me to Keeneland for a day of fun with friends," said Smyth. "To be live at Del Mar is a moment that I'll never forget. I love the horse industry, and I try to make sure, as a player and a fan, that I can help future generations enjoy the sport even more."
As a commitment to the future of the sport, Smyth is donating 5% of the first-place prize to Amplify Horse Racing. This organization fosters Thoroughbred industry education, mentorship, and career opportunities with horse programs for youth and young adults. Click here for more information on Amplify.
Complete tournament results are available here.
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