Los Alamitos raising takeout

The cost of making a bet at Los Alamitos will increase in the near future.

Friday, the California Horse Racing Board approved a request from Los Alamitos to increase the takeout by 2 percent to offset operating costs for California's satellite wagering locations and to increase revenue for the racetrack and for purses. The measure was approved by a 6-1 vote, with new commissioner Keith Brackpool opposed to the measure.

The starting date for the new takeout was not immediately known, and will remain in effect at least through Sept. 8, a date the racing board's chairman, John Harris, chose because it is the final day of the Del Mar Thoroughbred meeting. Los Alamitos must present a study at that time detailing how the increased takeout affected handle.

The takeout will increase from 15.63 percent for win, place, and show bets to 17.63 percent, and from 20.88 percent to 22.88 percent for all exotic wagers.

Under the agreement, simulcast locations will be provided an additional 1 percent of compensation for their first $50,000 of handle on the Los Alamitos signal.