Keyword: takeout

  • Keeping Pace by Frank Angst

    Kentucky Downs Believes in Pari-Mutuel Gaming

    Kentucky Downs’ takeout rates of 14% on the Pick 5 and 16% on win, place, and show wagers are among the lowest in the country. No Thoroughbred track is lower than Kentucky Downs’ 18.25% takeout on exactas and 19% takeout on trifecta wagers.

  • Stronach Group chief operating officer Tim Ritvo

    Maryland Jockey Club Focus on Daily Product

    As the Maryland Jockey Club moves forward under new leadership, it will place an emphasis on improving the day-to-day racing product by lowering takeout to attract new bettors and improving regional cooperation.

  • Churchill Downs

    Mixed Reaction to Churchill Takeout Increase

    Kentucky horsemen expected backlash from Churchill Downs' decision to charge the maximum takeout rates allowed by state law, but they hope positives follow from increased purses that improve the racing product.

  • Churchill Downs

    Churchill Downs to Increase Takeout Rates

    In what it says is an effort to maintain daily purses and its stakes schedule, Churchill Downs plans to increase its takeout rate on win, place, and show bets as well as exotic wagers in 2014.

  • Woodbine Race Course

    Woodbine Lowers Takeout Rate on Win Bets

    Woodbine Entertainment Group has announced it is lowering the takeout on win wagers to 14.95% for the 133-day Thoroughbred meet at Woodbine that begins April 20.

  • NY Lawmakers Back Off Takeout on Bets

    State lawmakers in New York have backed off on a looming law raising the takeout on bets made on out-of-state Thoroughbred races, a move the industry said would have put the state at a competitive disadvantage with other states.

  • 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.

  • 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.

  • California Bill to Increase Takeout Passes

    A bill that would raise the takeout on California exotic wagers by a half of a percentage point was passed unanimously by the California Assembly Monday.

  • 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.

  • Woodbine Announces Takeout Reduction

    Woodbine Entertainment is set to give an estimated $1 million back to racing fans by reducing its takeout beginning Jan. 28.

  • Takeout Hike Still Option in Workers' Comp Crisis

    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

    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.

  • Simulcasts: Price Is Right. Or Is It?

    The pros and cons of reduced pari-mutuel takeout were debated during the opening session of the International Simulcast Conference. The debate figures to continue for some time.

  • 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.

  • Saratoga's Million-Fan Meet

    Saratoga attracted more than a million fans for the first time in its 137-year history. The crush of additional fans caused a slew of statistical records to fall.

  • New York Horsemen Back Push for Takeout Reduction

    Richard Bomze, president of the New York THA, said Wednesday the organization that represents horsemen at Aqueduct, Belmont Park, and Saratoga met the week of April 9 and decided to support the plan pushed by NYRA chairman Barry Schwartz.

  • 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.