Keyword: pari-mutuel takeout

  • Canterbury Park in Minnesota

    Canterbury to Cut Takeout Across the Board

    Canterbury Park and its horsemen's group hope to make a statement this year with an across-the-board reduction in pari-mutuel takeout rates that will range from 15% to 18% for the 2016 meet.

  • WV Stakeholders Seek Racing Revenue Boost

    Racing stakeholders fully understand that having sports betting at tracks in West Virginia is a 90-1 shot. But other things like off-track betting are a bit more realistic as they fashion a wish list to increase revenue.

  • CHRB Urges Closer Look at Takeout, Handle

    The California Horse Racing Board will move forward with a committee recommendation that it urge the horse racing industry to examine the issue of pari-mutuel takeout and its effect on wagering.

  • NYRA Complying With Refunds on Overcharges

    The New York Racing Association said it is meeting a state request to refund money by March 30 to as many bettors it could identify that were overcharged when NYRA failed to follow a state law to lower its takeout on exotics.

  • Panel: Racing Should Invest in Pricing Study

    Difficulty in obtaining pari-mutuel wagering pool data and detailed player data is a major hindrance to the racing industry determining the optimal price point for takeout rates, symposium speakers said Dec. 7.

  • Charles Town Cuts Takeout 12% on Some Wagers

    Hollywood Casino at Charles Town Races took the first step toward returning more money to bettors Sept. 9 when the West Virginia Racing Commission approved a decrease in pari-mutuel takeout for four wagers.

  • TOC: Takeout Hike Unpopular But Necessary

    Faced with criticism and a move to decertify it as the official horsemen's organization in California, the Thoroughbred Owners of California held a public forum at Hollywood Park June 25.

  • In California, Politics Colors Takeout Fight

    An ongoing battle over pari-mutuel takeout rates in California isn't only a major issue in the war over horsemen's representation, but it also has moved horseplayers' involvement in political issues in racing to a new level.

  • HANA Targets Takeout Hike, Wants Panel Formed

    The Horseplayers Association of North America is calling for reversal of a pari-mutuel takeout increase in California as well as creation of a gambling board that would advise the California Horse Racing Board.

  • California Screamin'--Issues Get Airing Out

    Issues impacting the long-term health of California horse racing were dissected Dec. 9 and produced a general message: Think outside the box, because the prospect of revenue from gaming is very dim.

  • Round Table Sounds Optimism, Cooperation

    Participants in The Jockey Club Round Table Aug. 22 in Saratoga Springs, N.Y., sought to convey optimism and opportunity in the face of declines in many facets of the Thoroughbred industry.

  • Law Gives CA Tracks More Takeout Flexibility

    California Thoroughbred racetracks, subject to regulatory approval, could increase pari-mutuel takeout -- return less money to bettors -- and change how the revenue is distributed under legislation signed into law Oct. 23 by Republican Gov. Arnold Schwarzenegger.

  • Are the Voices of Horseplayers Being Heard?

    Racing executives are listening to players, but not enough, according to a journalist and horseplayer. And one track executive who is willing to try some things believes the industry would balk and put up roadblocks. And so it goes in the pari-mutuel horseracing industry.

  • Status Quo, 'Welfare' Mentality Big Threats

    If the horseracing industry fails to make voluntary changes it has resisted for decades, the only things that may save it from doom are involuntary changes brought on by forces in the gambling and entertainment marketplace, officials said Oct. 13.

  • NYCOTB Takeover Plan Appears Likely

    Negotiators in New York the afternoon of June 13 were putting the final touches on legislation in which the state would take control of the New York City Off-Track Betting Corp., thereby averting a shutdown of the city's betting operations for the weekend.

  • Laurel Cuts Meet Takeout to 10% Across the Board

    In a program billed "Ten Days at 10 Percent -- Racing's Best Bet," pari-mutuel takeout on Maryland's live races will be cut in half during Laurel Park's 10-day summer meet that runs from Aug. 10-23.

  • NYRA Bailout Tied to Hike in Takeout Rate

    The New York Racing Association will have to raise pari-mutuel takeout if it is to obtain a $20-million loan from the state of New York, according to language buried in state budget bills introduced the week of Jan. 16.

  • Report: Industry Must Maximize Customer Benefits

    A recently released report on wagering trends concludes the "handle up, purses down" situation isn't new, and that "incentive wagering service providers"--rebate operations--improve the competitiveness of the pari-mutuel industry.

  • California Takeout Bill Headed to Assembly

    Legislation that would authorize a pari-mutuel takeout hike to defray workers' compensation costs passed the California Senate by a 31-6 vote April 22 and is headed to the state Assembly, where it is expected to be addressed the week of April 26.

  • Non-Carryover Pick Six Takeout Drops; OTB Balks

    As some lawmakers and off-track betting corporations push for an increase in pari-mutuel takeout, New York regulators March 30 agreed to lower the takeout on certain pick six wagers at New York Racing Association tracks.

  • Takeout Rates Again Fuel Conflict in New York

    Pari-mutuel takeout wars have begun in New York, where a state senator has introduced legislation to increase the amount the New York Racing Association keeps on wagers. Though the measure's sponsor said the takeout hike is needed to help stop NYRA's financial bleeding, NYRA chairman Barry Schwartz insists the legislation would turn off bettors and decrease purses.

  • NTRA Players' Panel Issues Recommendations

    The National Thoroughbred Racing Association Players' Panel, formed in the wake of the Breeders' Cup Ultra Pick 6 fraud of 2002, has issued policy recommendations on subjects of "serious concern and importance" to pari-mutuel customers.

  • Bill Seeks Takeout Hike to Cover Workers' Comp Costs

    Legislation introduced by a California assemblyman would increase the pari-mutuel takeout on exotics wagers in Thoroughbred races by 0.5% to raise money to cover some workers' compensation costs. Quarter Horse and Standardbred takeout also would be increased to cover costs.