After reading input from another thread, I think a lot of people would like to participate if it can be more fun than burden. I have suggestions, but I am open to changes. So, I suggest the following:

1) Pick a minimum of 5 races per week, Monday through Sunday. No limit to the number of races one MAY enter. Failure to pick 5 races in a week will result in a $20 loss per race short of the 5 races.
2) $20 to win per race, can be distributed among any number of horses (dutched).
3) Picks must be made 5 minutes before post time of that race
4) Person with biggest PROFIT for the Saratoga season wins..If nobody has a profit, the person with the least loss wins
5) There is no cap on payouts. If you have a horse that pays $200 to win, you did good..
6) The prize is bragging rights... there is no prize.
7) There is no entry deadline, but penalties for non-participation accrue from the beginning of the season, up to $100 per week.

I am trying to set this up similar to real life handicapping. As stated above, these are suggestions. All thoughts welcomed.