Wednesday, February 7, 2018

Keeneland to Reduce Takeout Ahead of Spring Meet

From The | By Frank Angst | 02-07-2018--
Keeneland to Reduce Takeout Ahead of Spring Meet:
Noting that 57% of wagering on its races is either win, place, show or exacta wagering, Keeneland will reduce takeout in those pools. Takeout in the win, place, and show pools will be reduced from 17.5% to 16% and exacta takeout will be reduced from 22% to 19.5%. The 16% rate on win, place, and show matches the previous rate before the fall 2017 increase and the 19.5% exacta rate nearly matches the previous 19% rate.
Takeout is the amount of money removed from each pari-mutuel pool largely used to pay tracks and purses. Essentially it's the price of wagering on horse racing.
Keeneland vice president of racing and sales Bob Elliston said the track expected some pushback on its fall 2017 takeout increase—"nobody likes a price increase"—but the quality of the points made by many customers made an impact. That pushback included a Horseplayers Association of North America boycott of the Keeneland fall meet.

This would not have happened without support from a lot of horseplayers. 

I want to say THANK YOU to every single horseplayer who stood on principle and bet less at Keeneland last fall than they otherwise would have.

--Jeff Platt, HANA President