Takeout

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Laurel Cuts Meet Takeout to 10% Across the Board

  • News

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.

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.

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.

NYRA Seeks to Lower Pari-Mutuel Takeout

Quickly taking advantage of a new pari-mutuel deregulation move by the state, the New York Racing Association has proposed reducing its takeout on certain bets at Aqueduct, Belmont Park, and Saratoga.

Takeout Hike Still Option in Workers' Comp Crisis

  • News

California racing officials pondering what to do about a building workers' compensation insurance crisis are closer to submitting legislation that would increase pari-mutuel takeout in the state.

California to Hash Out Workers' Comp Proposal

  • News

Representatives from the California Thoroughbred industry have scheduled an April 10 meeting at Santa Anita Park to discuss a proposal that would increase pari-mutuel takeout to help pay for spiraling workers' compensation insurance rates.

Keeneland Alters Takeout Rates for Spring Meet

Keeneland, which last fall experimented with a reduced 16 percent pari-mutuel takeout, has made adjustments for its spring meet, which begins April 5. The takeout for win, place, and show wagers will remain 16 percent, but for exotic bets, it will go back up to 19 percent.

Woodbine Lowers Takeout

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.

Takeout Cut Heats Up Simmering Debate

It won't be easy to gauge the results of Keeneland's pari-mutuel takeout reduction, and the decision by the Mid-Atlantic racetracks and New York off-track betting corporations to drop the Kentucky track's signal because of concerns over a drop in revenue.

Keeneland Reduces Exotics Takeout

Keeneland has announced that effective with the start of its autumn meeting Oct. 5 it will be lowering the takeout on exotic wagers from 19% to 16%. Bettors with winning tickets on daily doubles, exactas, trifectas, superfectas, and Pick Threes will see a higher percentage of money returned to them.

NYRA Chief Pushes Lawmakers for Lower Takeout

While pushing to take over the New York City Off Track Betting Corp., Barry Schwartz has been busily pressing top state lawmakers at the Capitol in Albany to back him on what has become his other chief lobbying mission this year: lowering the takeout at New York racetracks.

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