HPI Takeout Rates vs Host Track
 

If you are a Canadian horseplayer wagering via Woodbine's Horseplayer Interacative (HPI) the attached chart lists the takeout rate charged for each type of wager for each US simulcast racetrack. Numbers in red indicate wagers where HPI has increased the takeout rate.

Curious if Canadian horseplayers are aware of the premium HPI charges?

Thanks for this and, yeah, I knew about it.
But, as in the old joke, for many of us it's the only game in town.

Yup it's all we have, we can't open a U.S. wagering account.

what about William Hill, Paddy power? Not sure if they are better or not

Oaklwans tri take goes from 21% to 27%-brutal:ThmbDown:

I will have to look into it, I tried bet 365 but they only have a Minimum $2 wager on every bet including tri's and super's and the odds aren't updated very fast so if you bet at post time, the odds can change dramatically after the gate opens, I bet a few horses at lets say between 5-10 to 1 and you would get half of that, you can't see how much money was bet into the pools, I didn't trust it after playing for about a week

in june, Mohegan sun takes over the operation of fallsview casino and will be in direct competition with woodbine....i'm hoping they bring their off track business and fully compete with the horse side too.

i had a guy pay me with a Canadien $20. i went to the bank and all they wanted to give me was $12 in US currency. i decided to keep the $20.

The worst thing about HPI is that the software is slow and laggy for me all the time.

The best thing about HPI is that you never have to worry about tax slips-W2 or Revenue Canada. I cashed a voucher Once for 7k they paid promptly with no paperwork or questions asked. This advantage far outweighs any hidden gambling fees, takeouts, etc. with HPI.

I have also used the HPI account withdrawal of winnings direct deposit to my bank account and it takes just 2 days and no fees.

I also have Bet365 mainly for degenerate gambling.
And I trust them with my money.
I was lucky and cashed out cumulative over $30k in July last year with zero delays, taxes, or any other issues. I was concerned my bank might not approve these offshore payments but they were processed within 2 days/no fees.

Canada has a lot of problems but it’s still good for gamblers.

Always wondered what happened to Henry after the sting was pulled off and the money divvied up. I was thinking S. America, but he ended up just on the other side of the falls.

Henry do you reside in Canada?

FWIW, in Canada gambling winnings are not taxable. It is not a HPI decision. However WEG does use the fact that winnings are not taxable in Canada to rationalize their increasing of the takeout rates, in essence creating a 'winners tax' which they keep!

Yes, Toronto.
HPI also has a rebate program that offsets, to an extent, the takeout discrepancies.

I think most people are conditioned by now to expect fees and surcharges for everything they do. But with gambling, for winnings to be non taxable up here is a huge advantage over the u.s.a. and other countries. I’ll suffer the nickel and dime fees with the takeout if the government keeps their hands off of gambling winnings.

Also, I am still disappointed that we can’t get TVG up here.
I even subscribed on Apple TV just to watch for their HD programming but they cancelled the service after a 2 weeks because I believe they can’t be in the Canadian market under terms with FanDuel, Paddy Power, Betfair, their parent company. Doesn’t make sense.

the rebate program offered by HPI is a joke for smaller bettors.........

a dollar wagered =1 point (1.5 points for betting WO)

29.25 points =10 cents

you must wager $1250 a week to lower the extra takeout by 0.50%

the extra takeout is not nickels and dimes.......it is real $$$$

So as poster EagleEye has said there is a "hidden" tax on gambling winnings....

HPI is a monopoly...there is no other choice for me (except offshore)

With the new tax laws reporting and withholding of racing winnings are down roughly 90%. I had zero w2g's in 2018 after numerous in 2017.

Henry, interesting that you mention the US tax on winnings. Industry types who support jacking up the HPI takeout rates use that as part of their rationalization. IMO that is a specious argument at best. You cannot compare the tax system of two countries to a level playing field in pari-mutuel wagering.

Below are payouts on today's 6th Race at Santa Anita:

$0.20 Superfecta 2 / 1 / 11 / 3 $2,135.76 HPI Payout

$0.20 Superfecta (2-1-11-3) $2,263.90 Everybody Else


$0.50 Trifecta 2/1/11 $806.00 HPI Payout

$0.50 Trifecta (2-1-11) $866.35 Everybody Else

The 'Winners' tax in Canada is significant.