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Hialeah Cuts Takeout Rate to 12% for All Bets

Hialeah Park will offer the lowest takeout rate in the country at 12%.

A racetrack traditionally known for its high pari-mutuel takeout has greatly reduced it to 12% across the board.

Hialeah Park, which only offers Quarter Horse racing at this time, made the announcement Oct. 6, touting its takeout rate as the “industry low.”

“We are setting the stage for what with once again become one of the industry’s premier race meets,” Hialeah general manager Randy Soth said in a statement. “We appreciate all the fan support during our rebuilding process, and this seemed like the best way to say ‘thank you’ to everyone.”

Hialeah will offer a betting menu that includes exacta, trifecta, superfecta, pick three, and pick four wagering in addition to the standard win, place, and show wagers. The minimum amount will be 50 cents for pick fours and 10 cents for superfectas. All other wagers will have a $1 base.

 “We want the entire racing industry to equate Hialeah Park with great value,” Hialeah president John Brunetti Jr. said. “What better way than to announce that we are now the track with the lowest takeout in the nation.”

The 24-day Quarter Horse racing season, the South Florida track’s second following an eight-year absence, is set to begin Dec. 3 with live racing every Friday through Sunday through Jan. 23, 2011. First post time will remain 2:05 p.m. EST.