Indiana Grand to offer 11.99-percent takeout pick five

Indiana Grand in Shelbyville received approval from the state racing commission on Thursday to offer a pick five with a takeout of 11.99 percent, the track said today. The racing commission also formally approved its 2020 race meet dates.

The 11.99 percent takeout rate is something of a gimmick, allowing the track to boast that it has the lowest takeout bet in the country. Two weeks ago, Charles Town racetrack in West Virginia debuted a pick five with a 12 percent takeout.

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Indiana Grand is scheduled to open June 15, running on a Monday-through-Thursday schedule. First post time is 2:20 p.m. Eastern each day.

The pick five will be offered on the last five Thoroughbred races each day.

If no one selects five winners, 10 percent of the pool will be paid out to those who selected the most winners and 90 percent will carry over, according to Eric Halstrom, the general manager of the track.