Woodbine cuts foreign takeout

TORONTO - Woodbine will be lowering its takeout on foreign simulcast pools for exacta and daily double wagering by 1 percent to 20.6 percent, effective Jan. 15.

The total takeout on exacta and double wagering, which additionally includes a 0.5 percent slice for the provincial government, 0.8 percent tax for the federal government, and a 2 percent levy for the local horsemen, now will be 23.9 percent.

"We estimate the reduced takeout will put $1 million back in the pockets of bettors this year," said Steve Mitchell, the Woodbine Entertainment Group's vice president of wagering operations, in a press release Thursday.

Woodbine currently accepts Thoroughbred simulcast wagering on all programs from Aqueduct, Fair Grounds, Gulfstream, and Santa Anita, and selected cards from Laurel, Penn National, Philadelphia, Tampa Bay, Turfway, and Turf Paradise.

The win, place, and show takeout on foreign simulcasting, including the taxes and the levy, is 18.55 percent. The total takeout is 26.9 percent on all other exotic wagers except trifectas. The total takeout on trifectas, which includes a 4 percent levy for the horsemen, is 28.9 percent.