Decrease in Takeout Rates on Daily Doubles, Exotic and Quinella Bets at Race Courses in California
It is expected that in fall 2011, the takeout rates on exotic and Quinella bets placed on thoroughbred at the races held in California might decrease.
The management at the Santa Anita Racecourse and Hollywood Park recommended that take out rates should be reduced in July 2011. It was suggested that the take out rate on Exotic bets and Quinella bets should reduced by one percent. It was also suggested
that a takeout rates on daily double should be decreased but by a larger margin of 7.25 percent.
‘Thoroughbred Owners of California’ in response to the above mentioned suggestion proposed that the takeout rates on all three kinds of bets, that is, Exotic bets, Quinella bets and Daily Doubles should be reduced by a margin of two percent. ‘Thoroughbred
Owners of California’ also suggested that the decrease in takeout rates should be implemented as the management of Santa Anita Racecourse and Hollywood Park has suggested provided that the takeout rates should return to their original value at the start of
2012.
George Haines, president of the Santa Anita Racecourse said that there are various proposals regarding changes in the takeout rates in the autumn season of thoroughbred racing at the moment. He added that the ‘Thoroughbred Owners of California’ as well as
managements of racecourses around California are taking all of these recommendations into account and a value for the takeout rates on Exotic bets, Quinella bets and daily Doubles would be decided after mutual negotiations between the concerned parties.
Mr. George Haines further commented that the final decision concerning this matter might be taken later than 25th August which is the date of review of suggestions regarding this matter by the California Horse Racing Board.
There is a probability that the final decision somewhere around the start of the Santa Anita Meet. The Santa Anita Meet would begin on the 30th September.
President of the ‘Thoroughbred Owners of California’ Mr. Lou Raffetto gave his opinion on the matter as well. He said that the suggestions made by the managements of racecourses regarding the change in takeout rates are very steep. He added that the two
percent decrease is practical and more likely to be implemented in the takeout rates on Exotic bets, Quinella bets and Daily Doubles.
It is yet to be seen as to which party would be favoured most concerning this decision. The value of takeout rates affect the horse trainers, owners, race course owners as well as the thoroughbred racing authorities. It is expected that such a decision should
be taken which must be fair to all the concerned parties in this case.
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