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This is The Cut.
Pour George T. Stagg neat and let it breathe for a minute. Caramel and dark cherry come forward as the heat settles — dry oak on the finish, longer than you expect, and a mid-palate weight that earns the wait. It's a bourbon that justifies itself in the glass before you ever look up what it costs anywhere else.
I'm John from Chasing the Unicorn Podcast. Here's what we're going after today. June 8, 2026.
Here's where we want to end up. You know exactly what the Buffalo Trace Antique Collection is, which expressions are worth prioritizing, and why the lottery — open right now in two states — is worth five minutes of your Monday morning.
Here's what makes it tricky. The portals open quietly, run for three weeks, and most buyers who'd want to enter never see the announcement. Residency is verified. One entry per person per expression. If you're not in a control state, you're watching this window from the outside — and the non-control-state distribution runs through distributor relationships with no published odds and no application process.
Here's the move. Virginia residents: the portal at abc.virginia.gov is live today through June 27. Ohio residents: the OHLQ portal opens June 10 and closes June 25. Free to enter, no purchase required. Pennsylvania, North Carolina, and Michigan announcements are expected within two weeks — watch those portals when they open.
The Buffalo Trace Antique Collection cleared all five federal label approvals on June 7. That's the industry event that unlocked both lottery calendars. Five expressions total: George T. Stagg and William Larue Weller both run barrel proof, uncut, unfiltered — Weller uses the wheated mash bill, same grain recipe as Pappy Van Winkle. Eagle Rare 17-Year runs 90 proof with 17 years in the barrel and has historically posted the highest win rate per entry submitted. Thomas H. Handy Sazerac and Sazerac Rye 18-Year round out the rye side. MSRP runs $99 to $129. Secondary floors on last year's cohort ran $400 for Eagle Rare 17 up to $1,550 for Weller. The lottery is the only legal path to these bottles at retail pricing.
The entry that matters most this week is the BTAC 2026 Lottery. Virginia through June 27, Ohio from June 10 through June 25. Free entry, one submission per person per expression. The secondary gap makes the math obvious — $129 at the counter versus $1,100 on the secondary for Stagg isn't a close call. If you qualify for both states, enter both. This is worth the chase.
Also worth your attention this week: Larceny Barrel Proof A926 at $69.99 — a series-record 126.8 proof, actively shipping now, inside the Father's Day delivery window if you order today. Full read on all three is in today's Cut Daily on our website. Free.
A word of caution on the odds. Win rates in control states have historically tracked under 3% per expression, and Weller draws the deepest entry pool. That's real. But the cost of being wrong here is five minutes and nothing else — no dollars, no store visit, no wasted shelf space. The rule: when the downside is your time and the upside is a several-hundred-dollar price gap, you enter and let the math work.
Today's American Whiskey Industry Brief on Patreon has the Flight — Larceny Barrel Proof A926 against Old Fitzgerald Bottled-in-Bond 11-Year. Two wheated Heaven Hill bourbons at opposite ends of the proof and age spectrum. Father's Day occasion frame. The value verdict is there. And the Label Room covers the new E.H. Taylor Old Warehouse "C" Bottled-in-Bond COLA confirmation — Buffalo Trace just added a stone-building warehouse designation to their most production-transparent label, which takes BiB provenance further than any prior Taylor annual release. Both in today's American Whiskey Industry Brief.
That's The Cut. The full American Whiskey Industry Brief is at patreon.com/ChasingTheUnicornPodcast. I'm John Schuster. Thanks for joining me. Your unicorn is out there.
Listen to today's episode and find us on Spotify and everywhere you listen at chasingtheunicornpodcast.com/episodes.
Informational and entertainment purposes only. Nothing here is investment advice. Verify before buying, trading, or bidding. We are not liable for errors or financial losses.
One hundred twenty-nine dollars. One bottle. That's George T. Stagg at MSRP if your BTAC 2026 lottery ticket wins — against a secondary floor sitting above $1,100 right now. Virginia's portal is live today. Ohio opens June 10. Free entry. Both close before July.
This Monday's most actionable bourbon story doesn't require a store visit or a credit card — just a state residency check and five minutes. The BTAC 2026 lottery portals are open in Virginia and activating in Ohio this week, giving residents free entry for George T. Stagg, William Larue Weller, Eagle Rare 17-Year, and the rest of the Buffalo Trace Antique Collection at MSRP prices that haven't reflected secondary reality in years. That's today's lead. Also in today's edition: Larceny Barrel Proof A926 is actively shipping at a series-record 126.8 proof inside the Father's Day delivery window, we walk through what the BTAC actually is for first-time lottery entrants, and the community is debating whether the state lottery is actually the fairest distribution architecture — or just the most transparent unfair one.
The Buffalo Trace Antique Collection cleared its final two federal label approvals on June 7. William Larue Weller and Eagle Rare 17-Year both completed the TTB COLA process, giving the 2026 BTAC cohort all five approvals in hand. Virginia ABC published lottery parameters the same day — the portal at abc.virginia.gov is accepting entries right now through June 27. Ohio OHLQ opens June 10 and closes June 25. Both are free to enter. No purchase required. Single entry per person per expression, state residency verified.
Here is the math that makes five minutes worthwhile. Eagle Rare 17-Year runs $99 MSRP. Sazerac Rye 18 and Thomas H. Handy Sazerac are $109. George T. Stagg and William Larue Weller are $129. Compare those numbers to last year's secondary floors: Eagle Rare 17 at approximately $400, Stagg at $1,050 to $1,200, Weller at $1,300 to $1,550. A winning lottery ticket is the only legal path to those expressions at retail pricing. There is no store relationship, no distributor connection, and no secondary spend that replicates it.
The odds are honest — long, but published. Win rates in major control states have historically tracked 0.8 to 2.4 percent per expression. Weller draws the deepest entry pool. Eagle Rare 17 has historically posted the highest win rate per entry submitted. Household members who each meet state residency requirements can each submit one entry — the rule is per person, not per address.
Pennsylvania, North Carolina, and Michigan lottery announcements are expected within 10 to 14 business days based on the established post-COLA activation pattern.
The Buffalo Trace Antique Collection — BTAC — is five bottles released every fall, every year. If you're looking at the lottery portals today and wondering what exactly you're entering for, here's what the five expressions are.
George T. Stagg: uncut, unfiltered, barrel-proof Buffalo Trace bourbon, typically north of 130 proof, 15-plus years aged. The flagship. William Larue Weller: same barrel-proof commitment, same no-dilution approach, but using the wheated mash bill — the same grain recipe behind Pappy Van Winkle. Thomas H. Handy Sazerac: uncut, unfiltered straight rye. Eagle Rare 17-Year: 90 proof, 17 years in the barrel — the most restrained and elegant expression in the lineup, and historically the highest win rate per entry in control-state lotteries. Sazerac Rye 18-Year: the long-aged rye companion.
MSRP runs $99 for Eagle Rare 17 and Sazerac Rye 18, $129 for Stagg, Handy, and Weller. National distribution is roughly 7,500 to 9,000 bottles per expression — thin enough that most buyers who want BTAC at retail price don't get it, which is why the lottery is worth entering.
What this changes: Virginia closes June 27. Ohio opens June 10 and closes June 25. Free entry. You now know what you're submitting for.
Floor erosion is how far a bottle's secondary market price has dropped from its all-time high realized sale. The Four Roses Limited Edition Small Batch 2025 peaked at $340 in October and November 2025, when fall distribution compressed demand around a national allocation of 18,000 to 22,000 bottles. As of the June 7 audit, the same bottle is realizing $215 on secondary platforms — 36.8% below that peak. That's steeper than BTAC's blue-chip expressions: William Larue Weller has eroded 21.2% from peak, Pappy 23-Year 23.4%. The difference reflects a real supply ceiling gap — BTAC and Van Winkle hold floors because their national allocations are genuinely production-constrained at 2,200 to 9,000 bottles. The LESB at 18,000-plus bottles corrects faster as the prior vintage loses its current-release premium. The specific catalyst pressing on the 2025 floor right now is the open 2026 LESB pre-allocation at an estimated $149.99 MSRP — buyers with the recipe still unrevealed are deciding whether known quality at $215 is worth the premium over a pending unknown at roughly $150.
Rickhouse Report: 5 stories · Regional Report: 3 stories
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Want the full picture? The complete American Whiskey Industry Brief — every section, every source, every story — is published free every morning at chasingtheunicornpodcast.com. Read it at chasingtheunicornpodcast.com/the-brief/.
Chasing a specific bottle? The Bourbon Release Calendar lists every lottery deadline, walk-up window and MSRP we're tracking — updated every morning.
Mentioned in this episode: E.H. Taylor, Buffalo Trace, Eagle Rare, William Larue Weller, George T. Stagg, Pappy Van Winkle, Wild Turkey, Master's Keep, Heaven Hill, Larceny, Old Fitzgerald, Four Roses, Maker's Mark, Blanton's, Sazerac, BTAC