The reduced takeout will benefit customers who wager on Woodbine's most popular simulcast products (Gulfstream Park, the Meadowlands, New York tracks, California tracks, Fair Grounds, etc.).
The betting public will receive larger payoffs when wagering at Woodbine. The Toronto-area track is reducing takeout by 1% for exactor and daily double wagers on foreign race betting. "We estimate the reduced takeout will put $1 million back in the pockets of bettors this year," said Steve Mitchell, Woodbine Entertainment's vice-president of wagering operations. "Woodbine Entertainment wants to reduce Canadian takeouts over the next few years to give more back to our customers who supported us during those years when we could not afford lower takeouts."