Canterbury Cuts Takeout 39% on 'Pick' Wagers

The Minnesota racetrack will set the new rate for Pick 3s and Pick 4s at 14%.

Canterbury Park is the latest racetrack to lower pari-mutuel takeout on multiple-race wagers.

The Minnesota track, which begins its live meet May 18, has reduced the takeout rate on Pick 3 and Pick 4 wagers from 23% to 14%, a decrease of 39%. Canterbury had indicated via Twitter a few days earlier it planned to cut the takeout rates but made it official May 14.

“We’re excited to offer our players the lowest Pick 4 takeout rate and the second-lowest Pick 3 takeout rate in North America,” Canterbury Park president Randy Sampson said in a release. “We understand that players are price-sensitive and have many options as to where to bet their wagering dollar.

“It’s our hope that this lower takeout makes Canterbury Park the place to play horizontal wagers.”

Rolling Pick 3s will begin with the second race each day, and there will two Pick 4s per card, officials said.

Canterbury will race 62 days through Sept. 3, mainly on a Thursday-through-Sunday schedule. First post time Thursdays and Fridays is 7 p.m. CDT, and at 1:30 p.m. Saturdays, Sundays, and Monday holidays.