Why is there takeout on pari-mutuel pools ?

Question

Why is there takeout on pari-mutuel pools ?

Answer 1

Plain and simple,, it pays the bills, especially government revenue, which is primarily why it is legal. Most of it goes to the government, also it pays the jockeys, track personnel, etc. On straight w/p/s wagers it is usually around 17% and the exotics are higher up to 35%. This percentage is taken "off the top" and the remainder of the pool is divided among the winning wagers, so the take is the same no matter the outcome of the race.

Answer 2

1) gotta have purses

2) gotta pay tellers

3) gotta keep the lights on

4) gotta make money

Answer 3

A) There has to be some form of takeout to pay for the costs associated for running a race.

B) The fatcats in the capitals always have a hand in the til.

Answer 4

THE VENUES THAT HOLD THE RACES NEED TO MAKE Money after all  they are running a business

Answer 5

Every track has to take a certain percentage out from their horse racing wagers placed, both in house and simulcasting to pay their staff and towards the racing purses.