Woodbine Entertainment Group announced that the takeout on its triactor (trifecta) wager by 2% for the upcoming live Thoroughbred meet that begins April 2 at the Toronto, Canada track.
The “tri,” a bet in which fans are asked to pick the top three finishers in a race, is one of the more popular wagers at the track. It will now feature a takeout, which is the amount of money kept by the track before the winning bettors are paid off, of 25%.
The takeout reduction is the second in less than two years. The rate was at 28.3%, before a cut in 2009 dropped the mark to 27%. The 25% takeout includes 5.3% in provincial and federal taxes and levies.
“We understand how important takeout is to the horseplayer,” said Sean Pinsonneault, WEG’s executive vice president and COO. “We believe this additional reduction in the triactor takeout on our live Thoroughbred racing will bring even greater value to our customers and allow us to be even more competitive in the betting marketplace.”
Woodbine already offers 16.95% takeout on win-place-show wagers.