04/11/2013 11:28AM

Woodbine lowers takeout on win wagers to 14.95%


ETOBICOKE, Ontario – The Woodbine Entertainment Group is lowering its takeout on win wagers to 14.95 percent, the lowest in North America, beginning with the opening of the Thoroughbred meeting on April 20.

“We have to continue to take care of the loyal horse-playing customer, and this is a great way to do it,” Greg Martin, director of wagering operations, said in a press release.

“The win bet is our most popular wager, and reducing that takeout by 2 percent will financially benefit most horseplayers, from the sophisticated fan to the novice.”

Other takeout rates will be unchanged, with place and show wagers remaining at 16.95 percent, daily doubles and exacta 20.5 percent, pick fours and trifectas 25 percent, and pick threes and superfectas 26.3 percent.

Woodbine also announced that it will guarantee the early pick-four pool at $100,000 on weekend afternoons and will offer a 20-cent minimum on all trifecta, pick-three, pick-four, and superfecta pools during the live Thoroughbred racing season.

Correction: A previous version of this article misstated the takeout on pick fours and trifectas. It is 25 percent, not 26.3.

Rob Nokes More than 1 year ago
When the takeout was 10% it was a good investment. A very good horse player can beat 10%. After that tipping point horse racing is entertainment and a total losing proposition. The taxation of horse racing wagers is unfair compared to casino gambling. All wagers should be taxed equally. Casino gambling is taxed on earnings and Horse Racing on each wager. Totally unfair. Correct me if I am wrong... I left the sport long ago.
Mike B More than 1 year ago
Why stop at win? If you really want to take care of your customers -- and perhaps even get more of them to bet or have more money bet, as any gambling business would want -- lower the takeoot on the rest of your menu.
Nathan More than 1 year ago
p3,p4.tri,supers 26.3 % and they are taking care of the "loyal players"? the place is a graveyard and the fact that 80% of all wagers are on simulcast shows again what a bunch of #@%?%$& they think we are.