Friday, November 27, 2009

A Takeout Hike That Went According to Plan?

We are stumbling about researching some takeout data and we came across this.

It was a senate vote in Connecticut for "AN ACT INCREASING THE PARI-MUTUEL TAKEOUT RATE FOR OFF-TRACK BETTING AND DOG RACING EVENTS". And it is a little curious. They apparently upped the takeout rate on WPS one percent, and on exotics three percent.

They then say the effect of it is the following:

"The bill is anticipated to result in a decrease in General Fund revenue of $27,000 per year and a decrease in revenue of $23,000 per year to the municipalities that host pari-mutuel and off-track betting facilities. This revenue loss is due to an expected decrease in handle of 4% from the Plainfield Dog Track, the Bridgeport Dog Track, and Connecticut OTB. Total handle is anticipated to decrease as a result of an increased takeout rate because there will be less money returned to bettors for re-wagering."

This apparently passed 18 to 3.

We have no idea what happened with this, but we do know one thing: Dog Racing was discontinued a little under two years after this proposed, and very odd, legislation.

1 comment:

The_Knight_Sky said...

That increase in takeout sounds similar to Mr. Brunetti's plan at Hialeah's final thoroughbred seasons.

They knew they were going on "hiatus" so it was their chance to gouge the public while it lasted.

Just a thought.