wagering takeout

by Walter Toner Rainy afternoon on Cape Cod and I had a few minutes to kill, so flipped the channel to TVG for a quick flutter. I selected the filly Just Like Magic, approaching the gate at 7-5 as the recipient of a $10 win wager in the 3rd race Oaklawn (3/28). She charged up the rail and won. Final odds were 3-5. WTF. Sorry for the crudeness. Racing will never engage the next generation of punters with 15-27% takeout and NO fixed odds, when they can bet on sports...

Delta Downs Racetrack Casino & Hotel will lower the takeout rate on all Pick 4 and Pick 5 wagering pools from 25% to 12% beginning Wednesday, Dec. 13, according to a press release from the track. The new rate will be in effect through Feb. 24, when the season ends. The track offers an Early Pick 5 beginning with the first race each night and a Late Pick 5, which covers the final five races. The Early Pick 4 starts on the second race and the Late Pick 4 covers...

The handle on Thursday's nine-race card at Hawthorne was $2,080,655. That may not seem like much, but at Hawthorne, which opened Mar. 5, it was a cause for celebration. It was the fourth time this year that the Chicago-area track had topped the $2-million mark in handle, something that happened just once all of last year. What's going on? The answer, says Hawthorne Racing Analyst Jim Miller, is that bettors are gravitating towards the track's 12% takeout in the win, place and show pool, an industry low. "The lower takeout...

With racing's temporary opportunity as the only game in town, the TDN's Katie Ritz took a poll of some industry insiders known to like a good bet and asked them: what is one simple way that tracks could make betting more friendly for existing horseplayers and/or more effective at bringing in new players? As you'll see, none of them could stop at just one. My answer will probably differ from most, as I think there's far too much focus on trying to cultivate an army of novice $2 bettors and...

We cannot say this any simpler: American racing does not have a fair and equitable split of the takeout dollar, it has overly and foolishly relied on alternate sources of gaming to supplement purses. So, we remind you--whether you are for or against a 'federal bill,' a Jockey Club member, a commercial breeder, a small syndicate member or anything in between--the status quo is untenable. Something must change. The economics for the sustainability of racing are all askew. ADWs aren't bad--our business REALLY needs them, particularly now. Their percentage of...