Beginning at 2001 Saratoga meet, NYRA lowered the amount of money taken out of each wagering dollar for purses, taxes, and track expenses from 15% to 14% on straight bets (win, place and show), from 20% to 17.5% on multiple bets (exactas, doubles and quinellas), and from 25% to 20% for the Pick Six on non-carryover days.NYRA estimates that through Thursday, the lower takeouts have returned $46.4 million to bettors since July 25, 2001.
Reduced takeout has been credited with attracting more than $200 million in commingled handle to the New York Racing Association's three racetracks so far this year.Total commingled handle for races at Aqueduct, Belmont Park, and Saratoga is tracking 10.4% ahead of last year. So far, the handle is $2,128,834,637 compared with $1,927,780,490 at this time a year ago."The takeout reduction has resulted in significant increase in handle both on-track and across the country," said Barry Swartz, NRA's chairman and chief executive officer.
