horse racing takeout

Hayward: Derby Wars Lawsuit Will Have ‘Significant Impact’ On Racing’s Future

The Stronach Group’s legal battle with the company that owns Derby Wars will prove to be very important to the future of the racing industry, according to former New York Racing Association CEO Charles Hayward. He states in the Thoroughbred Racing Commentary that it will have a “significant impact on the future finances of Thoroughbred […]

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Canterbury Park reduces takeout rates on Pick 3 and Pick 4

Takeout on all Pick 3 and Pick 4 wagers at Canterbury Park will be reduced to 14% effective opening day, Friday, May 18, track officials announced today. These changes in takeout rates make Canterbury Park among the lowest in North America for Pick 3 and Pick 4 wagers. “We’re excited to offer our players the […]

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Remington Park reduces trifecta takeout, drops quinella

In an effort to share prosperity, Remington Park will offer a lower takeout rate on trifecta wagering. The reduction will take place during the 2012 American Quarter Horse Meeting & Mixed-breed Season which runs March 2 thru Memorial Day on May 28.   The trifecta wager takeout percentage will drop from its current 24% rate […]

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Crist: NYRA response to overcharging error falls short

The Daily Racing Form’s Steven Crist gives his take on the “takeout fiasco” plaguing the New York Racing Association.  Crist says the solution presented so far appears rather shallow: “This is a makeup, however, not the sort of forward-thinking takeout reform NYRA portrayed it as when it first addressed the issue with a press release […]

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NYRA’s Hayward accepts blame in overcharging case; takeout reduction ‘permanent’

New York Racing Association president and CEO Charles Hayward publicly took responsibility Tuesday for an oversight that led to NYRA overcharging takeout on exotic wagers for a 15-month period. “If you’re looking to blame somebody, that’d be me,” Hayward told the Daily Racing Form.  “The buck stops here. There’s a lot of people both inside […]

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Pricci: If not betting exchanges, how about fixed-odds wagering?

Horse Race Insider John Pricci writes that if recent betting scandals in Britain sour U.S. racing jurisdictions on the idea of betting exchanges, then perhaps the U.S. industry should at least consider offering fixed-odds bets to shake things up: “Fixed-odds wagering could stand alone, but given that the industry and many of its fans are […]

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Questions, anger surround NYRA overcharging case

There is likely to be more fallout concerning the New York Racing Association charging too much takeout on certain exotic bets over a 15-month period, as reported Wednesday.  The Blood-Horse says Robert Megna, chairman of the state’s NYRA oversight board, has sent a letter to NYRA president Charles Hayward: “Fairness to bettors demands that this […]

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NY business blog: Slots should spit out betting vouchers

The Albany-area business blog Nanoburgh? offers its take on the relationship between slots revenues and the health of the racing industry as New York continues to expand gaming.  The blog suggests instead of pumping all of the gaming revenue back into purses and breeding programs, some of it should be directed toward potential new gamblers […]

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Tampa Bay GM: A believer in lower takeout

Peter Berube, the vice president and general manager of Tampa Bay Downs – which opens its 2011-12 race meeting on Saturday – is a former accountant who understands numbers. Berube is a believer that you can sell more of a product if you lower the price. In racing, at least among serious horseplayers, the price […]

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Elliston: Turfway Park to request cut in Pick 4 takeout

Turfway Park president Bob Elliston said Wednesday the track will ask the Kentucky Horse Racing Commission to approve a cut in the takeout rate on Pick 4 wagers from 22% to 14% effective January 1st.  Turfway has requested the item be put on the agenda for the December 14 meeting of the KHRC. “We have […]

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