NYRA's 2002 Handle is 10.4% Ahead of 2001
Updated: Friday, September 27, 2002 1:59 PM
Posted: Friday, September 27, 2002 1:59 PM
Reduced takeout has been credited with attracting more than $200 million in commingled handle to the New York Racing Association's three racetracks so far this year.
Total commingled handle for races at Aqueduct, Belmont Park, and Saratoga is tracking 10.4% ahead of last year. So far, the handle is $2,128,834,637 compared with $1,927,780,490 at this time a year ago.
"The takeout reduction has resulted in significant increase in handle both on-track and across the country," said Barry Swartz, NRA's chairman and chief executive officer.
Beginning at 2001 Saratoga meet, NYRA lowered the amount of money taken out of each wagering dollar for purses, taxes, and track expenses from 15% to 14% on straight bets (win, place and show), from 20% to 17.5% on multiple bets (exactas, doubles and quinellas), and from 25% to 20% for the Pick Six on non-carryover days.
NYRA estimates that through Thursday, the lower takeouts have returned $46.4 million to bettors since July 25, 2001.
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