A state investigative agency has concluded that key executives of the New York Racing Association were derelict in their duties to halt a practice that cost bettors more than $7 million.
Northlands Park in Alberta, Canada, begins its meet May 2 with pari-mutuel takeout rates it says are the lowest in North America.
Pari-mutuel takeout rates and other issues were discussed during a lightly attended meeting of the New York State Racing Fan Advisory Council Oct. 19 at Belmont Park.
Racing executives indicated Oct. 9 there is little chance of the Thoroughbred racing industry developing a comprehensive analysis of lower pari-mutuel takeout rates.
When Kentucky Downs holds its 21st meet in September, the Franklin, Ky. oval will have some of the lowest exotic takeout rates among U.S. tracks.
- By Tom LaMarra
Ramblings about pari-mutuel takeout rates, handle, slots, data, and whatever else. read blog
Kentucky Downs has announced a reduction in takeout rates for all wagers during the six-day all-turf meet at the Franklin, Ky. track that begins Sept. 8.
Difficulty in obtaining pari-mutuel wagering pool data and detailed player data is a major hindrance to the racing industry determining the optimal price point for takeout rates, symposium speakers said Dec. 7.
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 National Horsemen's Benevolent and Protective Association's board of directors will decide Jan. 18 whether to endorse an updated "white paper" on simulcasting, but it won't decide--at least for several months--its position on high-volume rebate operations.
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.
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.
The timing couldn't be better. But it's pure coincidence the International Simulcast Conference, which begins Monday in Louisville, Ky., includes a panel discussion titled "The Cost of a Bet."
Hawthorne Race Course, which carried the Thoroughbred sport in the Chicago-area during a two-year dark period at Arlington Park in the late 1990s, will open May 1 for the first of two meets and feature reduced takeout rates on wagers. The meet will mark the return of grass to the Chicago racing calendar.
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