Another Way WEG Rips Off Their Suckers

[Cangamble]

http://cangamble.blogspot.com/2007/11/just-in-case-you-didnt-know-another-way.html

I checked prices yesterday for Churchill versus what Woodbine paid on Churchill and found around an 8% difference in Supers, Tris and Pick 3's.

[Tom Barrister]

And they're uniform. They're all 92.6% of Churchill's payouts---not exactly each, but close enough with breakage.

Where is the extra 7.4% going?

[Ron]

NY OTB does the same thing, takes about 8%.

[JustRalph]

yep, but there are no IRS forms or signers in Canada right?

[Zman179]

Where is the extra 7.4% going?

It's the provincial takeout. The super-exotic takeout depends on the track that you're wagering on. If you think it's bad in Ontario, well...it's even worse in Québec. And yes, if you are in Montréal and you bet on a race from Woodbine, the takeout rate is different there too.

Let's take the results from two races at two different tracks.

Churchill Downs Race 3 - Saturday

Churchill prices:
Exacta 2-4 $148.00
Trifecta 2-4-1 $521.80
Superfecta 2-4-1-5 $2,002.00
Daily Double 6-2 $84.60
Pick 3 1-6-2 $607.00

Woodbine prices:
Exactor 2/4 $148.00
Triactor 2/4/1 $483.20
Superfecta 2/4/1/5 $1853.80
Daily Double 6/2 $84.70
Pick 3 1/6/2 $562.20

Québec prices:
Exacta 2-4 $128.20
Trifecta 2-4-1 $452.30
Superfecta 2-4-1-5 $1735.10
Double 6/2 $73.40
Pari 3 1/6/2 $526.20

Here's the 9th at Aqueduct for Saturday

NYRA prices:
Pick 3 9-4-3 $1,819.00
Pick 4 7-9-4-3 $45,103.00
Pick 6 2-8-7-9-4-3 (4 of 6) $1,161.00
Daily Double 4-3 $159.50
Exacta 3-7 $146.50
Trifecta 3-7-6 $1,102.00
Superfecta 3-7-6-10 $4,946.00

Woodbine prices:
Pick 3 9/4/3 $1,819.40
Win 4 7/9/4/3 $45,103.00
Pick 6 2/8/7/9/4/3 (4 of 6) $1,161.10
Daily Double 4/3 $159.90
Exactor 3/7 $146.80
Triactor 3/7/6 $1,102.80
Superfecta 3/7/6/10 $4,946.60

Québec prices:
Pari 3 9/4/3 $1,702.90
Pari 4 7/9/4/3 $42,216.40
Pari 6 2/8/7/9/4/3 (4 sur 6) $1,086.80
Double 4/3 $136.10
Exacta 3-7 $124.90
Trifecta 3-7-6 $1,032.20
Superfecta 3-7-6-10 $4,630.00
Double 4/3 $136.10

[Zman179]

If you live in Ottawa, and you're equal driving distance between Rideau Carleton in Ontario and Hippodrome d'Aylmer in Québec, and you like to bet on Woodbine, you'd have to be crazy to bet it in Québec.

Race 9 Woodbine

Woodbine results:
6 $13.10...$6.50...$4.00
5 ............$9.90...$4.90
4 ......................$3.30
Exacta $148.00
Trifecta $717.50
Pick 3 $378.10

Québec results:
6 12.50...6.20...3.80
5 ..........9.50...4.70
4 ...................3.10
Exacta $130.70
Trifecta $702.50
Pick 3 $360.10

[Cangamble]

That is one advantage. But we pay loads more in taxes in general. But we have free health care too.
We don't pay tax if we win at Betfair either.
We can't claim gambling on our income taxes either as winners or losers.
I think someone did though and was successful, it was a broker who said he met his clients for lunch at Champions (Toronto's version of an OTB) all the time, so he claimed his losses as a business expense.

[Cangamble]

How can they charge 25% on triactors on Woodbine but allow triactors from Churchill to be at a lower rate?
It just wouldn't be ethical. :D

[Ron]

So that was a rhetorical post?

[Zman179]

NY OTB does the same thing, takes about 8%.

5% surcharge for WPS, 6% for all exotics.

[theiman]

5% surcharge for WPS, 6% for all exotics.


Isnt that 5% minimum? then round up to next $.10?

[trying2win]

That is one advantage. But we pay loads more in taxes in general. But we have free health care too.


CANGAMBLE: In some provinces like Alberta where I reside, the Provincial Government charges monthly health care premiums to citizens above a certain income level. So, health care is anything but free for some of us in this province. I believe in some provinces though, there are no health care premiums.

At least in Canada as far as racetracks go, it's more bettor friendly in many ways compared to the U.S.A.


T2W

[Cangamble]

You are right. I forgot about those pesky health care taxes. But it is an inexpensive form of insurance.

[Zman179]

Isnt that 5% minimum? then round up to next $.10?

5% minimum, then breakage which is rounded down.

Take a trifecta with a 6% vig that pays $561.80 on track.
$561.80 - 6% = $528.09 - breakage = $528 trifecta payoff at NYOTB.