Comments on: WEEKEND STAKES: WHERE TO WATCH brought to you by KBC Horse Supplies http://www.paulickreport.com/blog/weekend-stakes-where-to-watch-brought-to-you-by-kbc-horse-supplies-11/ An independent voice for news, analysis and commentary on the Thoroughbred racing and breeding industry Fri, 19 Mar 2010 20:43:13 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Steve http://www.paulickreport.com/blog/weekend-stakes-where-to-watch-brought-to-you-by-kbc-horse-supplies-11/comment-page-1/#comment-17745 Steve Sat, 24 Oct 2009 17:23:59 +0000 http://www.paulickreport.com/?p=8875#comment-17745 I meant it's bill SB 517 that the Gov just signed. You can read it (and an analysis of what it means) online. I meant it’s bill SB 517 that the Gov just signed. You can read it (and an analysis of what it means) online.

]]> By: Steve http://www.paulickreport.com/blog/weekend-stakes-where-to-watch-brought-to-you-by-kbc-horse-supplies-11/comment-page-1/#comment-17744 Steve Sat, 24 Oct 2009 17:13:48 +0000 http://www.paulickreport.com/?p=8875#comment-17744 Picksburg, the bill the Governator just signed does not increase the amount allowed for takeout. In existing law it was already mandated at between 10% and 25%. Right now they're taking out 15.43% for win-place-show wagers and 20.18% for other wagers. The law has always allowed them to go as high as 25%. The new law allows them to take a larger portion of the takeout to fix up their facilities and offer bigger purses. It does not mean they'll definitely increase takeout, it means they get to use more of what they're already taking to fix the tracks and offer bigger purses. But since everybody is going to want a piece of the pie, my guess is they'll eventually have to increase takeout. They have to file written notice before increase, so we'll know when it's coming. It's bill SB 517. Picksburg, the bill the Governator just signed does not increase the amount allowed for takeout. In existing law it was already mandated at between 10% and 25%. Right now they’re taking out 15.43% for win-place-show wagers and 20.18% for other wagers. The law has always allowed them to go as high as 25%.

The new law allows them to take a larger portion of the takeout to fix up their facilities and offer bigger purses. It does not mean they’ll definitely increase takeout, it means they get to use more of what they’re already taking to fix the tracks and offer bigger purses.

But since everybody is going to want a piece of the pie, my guess is they’ll eventually have to increase takeout. They have to file written notice before increase, so we’ll know when it’s coming.

It’s bill SB 517.

]]> By: Picksburg Phil http://www.paulickreport.com/blog/weekend-stakes-where-to-watch-brought-to-you-by-kbc-horse-supplies-11/comment-page-1/#comment-17743 Picksburg Phil Sat, 24 Oct 2009 15:14:14 +0000 http://www.paulickreport.com/?p=8875#comment-17743 Did California just increase the takeout? From the LA Times, Oct 23, 2009; "California’s horse-racing industry is struggling to compete with expanding casinos and other betting alternatives, and Gov. Arnold Schwarzenegger said Friday he has signed a measure allowing horse track groups to take a larger cut from wagers to fix up their facilities and offer bigger purses." Did California just increase the takeout?

From the LA Times, Oct 23, 2009;

“California’s horse-racing industry is struggling to compete with expanding casinos and other betting alternatives, and Gov. Arnold Schwarzenegger said Friday he has signed a measure allowing horse track groups to take a larger cut from wagers to fix up their facilities and offer bigger purses.”

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