The horseshoe pit (Latin derivative for hell) was in the basement (lowest story) of Ike's house. The stakes are 40 feet apart - in Hebrew numerology (gematra), 40 is the number for 'punishment'. (Stakes have been used traditionally for marking a man's territory - better yet, they're also known for witches being tied to them and burned to death).
It was custom as early as the 14th century to nail a horseshoe above the door so that no witch could enter an area.
Vic and Sade creator and writer, Paul Rhymer, slyly made Ike to represent Vic. Ike was unique because he was the only other known person in the show that both worked with Vic at Consolidated Kitchenware, Plant #14 and was also a member of the Vic's Drowsy Venus Chapter of the Sacred Stars of the Milky Way lodge. Ike, just like Vic, smoked cigars, was a snappy dresser, had a horrible singing voice, had a terrible temper...
When Vic was teased or mad, he went below to a horseshoe pit; but when Sade was mad or sad, she headed upstairs to her room. Without fail, Rhymer put Sade on top (heaven) and Vic the one in the pit (hell). Vic could never top Sade at anything.
IKE KNEESUFFER = I
SADE = SAD SADE = SADISM
Horseshoes are supposed to be lucky, but Vic was always unlucky.