We are hearing whispers that the California Bill 2414, which provided a 2-3% increase in takeout in California, as well as a low takeout betting exchange option, might be dead. However, it appears one of the two items will be passed in a new bill. I am sure you can guess which one; the high takeout option. We expect takeout in California to rise in December, and any price sensitive players who wanted to continue to play there will not have the low cost exchange option.
We do have some success to report though. Tioga Downs is rolling well and Bill Finley on ESPN.com interviewed Jason Settlemoir of Tioga in an article "A Racing Resurgence at Tioga Downs". Tioga lowered takeout this year to state minimums and Jason let us know how he feels about the horseplayer:
Settlemoir understands that and knows excessive takeouts are among the many reasons racing is struggling. If he and Gural get their way, the takeout on Tioga races will go even lower.
"Jeff [Tioga owner Jeff Gural] and I would like to see the takeout lowered to 9 or 10 percent," he said "That way it would be equal to what the take is on the slots. We want to put the horseplayer on an equal level with the people who play the slots."
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