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Sunday, April 12, 2015

Woodbine High Take Pick 5 Comment, on Behalf of the Smaller Player

We have left this comment on a Canadian website that is focused on Woodbine. We have been trying to spread the word that all tracks should highlight takeout rates for all new bets, good and bad, as a matter of course. Large players (rebated) are affected less when a high takeout bet is brought in (their rebate goes up), but the smaller player, we feel, needs to know exactly what they are paying as a customer.

The emails and comments we have received so far are not from large players (we have received some), as much as the smaller player who feels marginalized. Maybe your voice will not be listened to, but as a customer advocacy group, we will ensure people at least see it.

Woodbine has been made aware of your feelings.

Hi Jen,

We at HANA have not done anything, yet, other than let horseplayers know that the takeout for the pick 5 at Woodbine is well above average, and let Woodbine know they must as a business, let customers know what that new takeout rate is.

The pick 5 is a bet that smaller to mid-sized players have come to support, because tracks North America-wide have provided them with lower takeout and bigger payoffs. The current industry average stands at approximately 15%, and the last few pick 5's created were:

Northlands Park, 10%
Pimlico (Stronach), 12%
NYRA - Belmont, Aqueduct, Saratoga 15%
Santa Anita, Del Mar, etc, 14%

As you can see, customers are conditioned to play them, and they will likely blindly play them at Woodbine *thinking* they are getting a good deal. They are not. Their payoffs will be up to 16% to 17% lower.

Woodbine can do whatever they wish; however, not telling horseplayers in programs and on the track feed they are getting lower payoffs for bets they expect to be good is where we must step in on their behalf.

It's a shame Woodbine did not come in with a lower takeout pick 5 like other tracks. They have been doing some good things in the US market, and this, in our view (and looking at chatboards and our email inbox) has set them back in the States.

Thanks for reading,

HANA

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