One of the best bets for Horseplayers the past few years has been the lower takeout pick 5. Beginning with Monmouth (15%), and later on at California racetracks (14% Players Pick 5) and NYRA (15%), this bet has been a staple.
Just this year, Pimlico, trying to get people interested in their product, created a 12% takeout pick 5, and Northlands Park in Canada, one at 10%.
Woodbine in Rexdale Ontario, did pretty much the inexplicable. They created a 25% takeout pick 5; well above the average price, and over double, Pimlico's.
We had heard earlier in the week this was occurring, but finally got information today. Yes, we have seen your emails upset about this wager.
Woodbine, and Ontario, lost slot machine revenue in 2012. The government mandate for continued funding for the track was to "grow wagering" and show customers more appreciation and more value. I highly suspect they will be none too pleased with a bet that achieves the opposite.
We wanted you to be aware of this new bet, and how deleterious to value it is. There are clearly other racetracks who care about you and your wagering dollars, so shop accordingly.