Pari Mutuel Takeout

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In California, Politics Colors Takeout Fight

In California, Politics Colors Takeout Fight

An ongoing battle over pari-mutuel takeout rates in California isn't only a major issue in the war over horsemen's representation, but it also has moved horseplayers' involvement in political issues in racing to a new level.

HANA Targets Takeout Hike, Wants Panel Formed

The Horseplayers Association of North America is calling for reversal of a pari-mutuel takeout increase in California as well as creation of a gambling board that would advise the California Horse Racing Board.

Law Gives CA Tracks More Takeout Flexibility

California Thoroughbred racetracks, subject to regulatory approval, could increase pari-mutuel takeout -- return less money to bettors -- and change how the revenue is distributed under legislation signed into law Oct. 23 by Republican Gov. Arnold Schwarzenegger.

Are the Voices of Horseplayers Being Heard?

Racing executives are listening to players, but not enough, according to a journalist and horseplayer. And one track executive who is willing to try some things believes the industry would balk and put up roadblocks. And so it goes in the pari-mutuel horseracing industry.

Status Quo, 'Welfare' Mentality Big Threats

If the horseracing industry fails to make voluntary changes it has resisted for decades, the only things that may save it from doom are involuntary changes brought on by forces in the gambling and entertainment marketplace, officials said Oct. 13.

NYCOTB Takeover Plan Appears Likely

NYCOTB Takeover Plan Appears Likely

Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

Laurel Cuts Meet Takeout to 10% Across the Board

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In a program billed "Ten Days at 10 Percent -- Racing's Best Bet," pari-mutuel takeout on Maryland's live races will be cut in half during Laurel Park's 10-day summer meet that runs from Aug. 10-23.

NYRA Bailout Tied to Hike in Takeout Rate

The New York Racing Association will have to raise pari-mutuel takeout if it is to obtain a $20-million loan from the state of New York, according to language buried in state budget bills introduced the week of Jan. 16.

Report: Industry Must Maximize Customer Benefits

A recently released report on wagering trends concludes the "handle up, purses down" situation isn't new, and that "incentive wagering service providers"--rebate operations--improve the competitiveness of the pari-mutuel industry.

California Takeout Bill Headed to Assembly

Legislation that would authorize a pari-mutuel takeout hike to defray workers' compensation costs passed the California Senate by a 31-6 vote April 22 and is headed to the state Assembly, where it is expected to be addressed the week of April 26.

Takeout Rates Again Fuel Conflict in New York

Pari-mutuel takeout wars have begun in New York, where a state senator has introduced legislation to increase the amount the New York Racing Association keeps on wagers. Though the measure's sponsor said the takeout hike is needed to help stop NYRA's financial bleeding, NYRA chairman Barry Schwartz insists the legislation would turn off bettors and decrease purses.

Bill Seeks Takeout Hike to Cover Workers' Comp Costs

Legislation introduced by a California assemblyman would increase the pari-mutuel takeout on exotics wagers in Thoroughbred races by 0.5% to raise money to cover some workers' compensation costs. Quarter Horse and Standardbred takeout also would be increased to cover costs.

NYRA Seeks to Lower Pari-Mutuel Takeout

Quickly taking advantage of a new pari-mutuel deregulation move by the state, the New York Racing Association has proposed reducing its takeout on certain bets at Aqueduct, Belmont Park, and Saratoga.

New York Deal Includes Other Pari-Mutuel Provisions

A deal to bring video lottery terminals to New York racetracks with an increased slice of the pie for track operators includes other provisions, including removal of restrictions on pari-mutuel takeout. The VLT deal is expected to bring the state $165 million this year, legislative sources said.

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