Evangeline lowers takeout on pick four to 12 percent

Evangeline Downs will lower the takeout on its pick-four wagers from 25 percent to 12 percent starting next Wednesday, the track announced. Evangeline received Louisiana Racing Commission approval for the move Monday.

It will be one of the lowest pick-four takeout rates in the country. Sam Houston offered a 12 percent takeout on the bet earlier this year, while Canterbury’s pick-four takeout rate is 14 percent.

“Bettors are always looking for improved wagering opportunities, and we feel that this reduction makes our 50-cent pick-four wagers among the most attractive in the industry right now,” said Chris Warren, director of racing for Evangeline.

Evangeline offers two 50-cent-minimum pick fours a card, with the early pick four starting with the first race and the late pick four running on the final four races of the program.

Also at the commission meeting Monday, the parent company of Evangeline informed the agency of plans to build an 80-stall receiving barn at a site on the backstretch that is to be determined. The project is scheduled to be completed before the start of the Thoroughbred meet in 2017, said a staff member of the commission