Pick 5 Takeout may increase to 23.65% at Hollywood

[Al Gobbi]

The takeout rate on the popular 50-cent pick five could rise sharply for the spring-summer meeting at Hollywood Park later this year unless track officials and the Thoroughbred Owners of California reach an agreement on the distribution of revenue.

Track president Jack Liebau told the California Horse Racing Board at its Thursday meeting that discussions continue but that the takeout rate could rise from the current promotional 14 percent rate to the standard exotic takeout rate of 23.65 percent in the absence of a deal.

http://www.drf.com/news/pick-five-takeout-could-increase-sharply-hollywood-meet

[thespaah]

The takeout rate on the popular 50-cent pick five could rise sharply for the spring-summer meeting at Hollywood Park later this year unless track officials and the Thoroughbred Owners of California reach an agreement on the distribution of revenue.

Track president Jack Liebau told the California Horse Racing Board at its Thursday meeting that discussions continue but that the takeout rate could rise from the current promotional 14 percent rate to the standard exotic takeout rate of 23.65 percent in the absence of a deal.

http://www.drf.com/news/pick-five-takeout-could-increase-sharply-hollywood-meet
BRILLIANT!!!!!

[1st time lasix]

if it rises....it will signal my last play there.

[1st time lasix]

Wish NY would come around and have a 15% take pick five by Saratoga meet.

[thespaah]

I think racing jurisdictions are going to have to come to the realization that in order to sustain their business, they are going to have to make their product less expensive.

[Striker]

You can see the popularity of the 50c pk5 and the effect of the low takeout on a daily basis in California, and I would think that the low takeout has a lot to do with this wager being an attractive bet. We saw this at SA on friday where there was a pk5 carryover of a little more than $220k, and there was also a carryover for the pk6 of $44k. The final pool for the pk5 on friday was over $1.2 million while the pk6 pool ended somewhere around $220k or $240k. The pk5 pool took in almost 5 times the amount of the pk6 pool on a carryover day for both in CA, this speaks volumes about the pk5 wager IMO.

[takeout]

Long interview on the Stein show Sunday with Mike Pegram, head of the TOC.
Pick 5 and related stuff begins around 21:30 in, to 42:10.

http://www.rogerstein.com/radio/archive2.asp

Sunday 3/03/2013(WMA)

[Robert Goren]

This pick 5 is based solely on the lower takeout? What would happen to win and exacta pools if took 8% off the takeout on them? If you want to do something for horse racing, try that for a while!

[Al Gobbi]

This will be a perfect timing to kill business. Belmont, Arlington, Churchill, Woodbine all of whom already have more attractive wagering opportunities that the CA tracks will be opening around the time of the start of the HP meeting.

Had the pick 5 not been put in, they would have lost billions by now in wagering. Lets be realistic, racing is probably on its last legs in CA (especially in the north). Hollywood Park is probably gone after this year, SA only wants a handful of HP dates now - and none in the fall. And Fairplex and Los Al are only providing expansion plans that look like are on the cheap side.

I could see a mass exodius of horses and jockeys pretty soon to eastern/midwestern tracks.

[MightBeSosa]

This pick 5 is based solely on the lower takeout? What would happen to win and exacta pools if took 8% off the takeout on them? If you want to do something for horse racing, try that for a while!

Why do something like that? It might work, get real gamblers back into the game, and make it playable again for non insiders.

Can't have that.

[anotherCAfan]

This will be a perfect timing to kill business. Belmont, Arlington, Churchill, Woodbine all of whom already have more attractive wagering opportunities that the CA tracks will be opening around the time of the start of the HP meeting.

Had the pick 5 not been put in, they would have lost billions by now in wagering. Lets be realistic, racing is probably on its last legs in CA (especially in the north). Hollywood Park is probably gone after this year, SA only wants a handful of HP dates now - and none in the fall. And Fairplex and Los Al are only providing expansion plans that look like are on the cheap side.

I could see a mass exodius of horses and jockeys pretty soon to eastern/midwestern tracks.
A land company that has already demolished one historic racetrack owns HP. That would seem to further the points you've made above. :(

[appistappis]

I stopped playing california when i joined HANA

[Stillriledup]

Good news, Pick 5 staying at 14%!

[v j stauffer]

I stopped playing california when i joined HANA

It'll be great to have you back!!

[horses4courses]

I stopped playing california when i joined HANA

For all the drawbacks to playing most exotics at CA tracks,
HANA is never slow to point out that WPS takeouts there are among the most favorable anywhere.
Are you strictly an exotics player?

[takeout]

[snip]
The popular bet needed the approval of the Thoroughbred Owners of California in order to be offered at the reduced takeout rather than the 23% deduction that is standard on multiple leg wagers in the state.
[snip]

Why do horse owners have anything to do with setting takeout rates?

[cnollfan]

BloodHorse advises the Pick 5 takeout will remain at 14% at Hollywood Park this spring.

[GaryG]

I limit my play at Santa Anita to win bets and the P5. The WPS take is 15%.

[Socalracefan]

I limit my play at Santa Anita to win bets and the P5. The WPS take is 15%.

I noticed that too about the takeout for WPS being higher than the P5's. The P5 is by far the best bet in racing out here. There are discussions about increasing the takeout for that bet when fans want lower takeouts. Hopefully they are wise and leave it alone.