KY Downs Reduces Takeout Rates, Adds Wagers
by Blood-Horse Staff
Date Posted: 8/9/2012 10:43:12 AM
Last Updated: 8/10/2012 11:45:03 AM
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.
According to a release from the track, the takeout rate on the exacta bets has been lowered by 3.75%–from 22% in 2011 to 18.25% in 2012. The track has also lowered the takeout on win, place, and show wagers from 17% to 16% and last year’s 22% takeout on all exotic bets (except exactas) has been lowered to 19%.
"We are sending out a clear message that Kentucky Downs greatly values and respects horseplayers," track president Corey Johnsen said in a statement. "With a wide array of wagers plus an across-the-board reduction of takeout rates, we believe Kentucky Downs will have one of the most inviting wagering menus in North America this year.
"I’ve always considered the exacta to be a staple for horseplayers," said Johnsen. "By making our exacta takeout the lowest in North America, we are showing horseplayers that we are as serious about improving our wagering product as we are every component of our live racing program."
Kentucky Downs has also added to its wagering menu, with two Pick Four wagers, a Pick Five wager, and a Super Hi-5 wager on each of its six racing days.
Kentucky Downs previously announced that its total purse structure will increase by 242% in 2012, with average daily purses of $409,000. Kentucky Downs also will introduce five new stakes races in 2012, bringing the total stakes schedule to seven. The meet will be highlighted headlined by the $200,000 Kentucky Turf Cup (gr. IIIT) on Sept. 15.
"Our goal is to provide full, competitive fields in races that horseplayers will find interesting and exciting," Johnsen said. "That, combined with some of the lowest takeout rates anywhere, should make the upcoming season of live racing a winner."
The track announced it has also redesigned its website that now includes racing news, analysis, and opinion. Handicapper Rick Lee will make the Kentucky Downs morning line and offer daily selections. Track announcer John Lies and Gary West of ESPN.com will offer analysis through daily seminars and over track’s simulcast signal.
Kentucky Downs will present nine races on both of its Saturday cards (Sept. 8 and 15) and eight races on Mondays and Wednesdays (Sept. 10, 12, 17 and 19). First race post time each day of the 2012 live race meet at Kentucky Downs will be 1:35 p.m. (CDT).
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