Takeout Rates

Colonial Downs has lowered the takeout rate on its Pick 5 wager from 22% to 12% and the bet will offer a carryover provision for the first time. The wager will have a minimum 50-cent base. The Pick 5, which will be offered on the last five races each day, will pay out 100% of its net pool to those bettors correctly selecting all five winners in the sequence. On days when nobody picks all five winners, 25% of the net pool will be paid to those who correctly selected...

Sam Houston Race Park announced Sunday that it will raise its overnight purses for the remainder of the 2021 Thoroughbred meet. The increases will go into effect starting Wednesday, Feb. 17 and will continue through closing day, Apr. 3. All main track purses will be increased by $7,000, while turf purses will see a $2,000 bump. The track cited strong handle figures, which are up 40% year over year including a record-setting handle of $5.3 million on the Houston Racing Festival card Jan. 31, as the reason for the changes....

Amongst serious horseplayers, takeout rates in pari-mutuel pools are a frequent discussion. It should be a focus of breeders, owners, trainers and track operators. Unless they are serious bettors too, takeout rates rarely "get a run" from those constituencies, though. Our recent #FreeDataFriday piece highlighted the impact of various takeout rates on win pools at three different tracks. The higher the rate, the lower the return to winners--and thus, the less they would have to churn through the pools and start another cycle of betting. Recently, a few bettors lamented...