http://www.drf.com/news/california-t...-takeout-rates
Excerpt:
In a move bound to stun anyone following California racing, the CHRB, which garnered controversy last year for raising takeout on bets, a move that sparked a nationwide horseplayer boycott, has announced a drastic drop in takeout rates for the rest of the year.
In a secret press conference this afternoon that DRF gained access to, the rates, which will be offically released tomorrow, are the lowest blended rate in the country by almost 5 percentage points.
Takeout on Win, Place, and Show wagering will be 10%, Exactas, Quinellas, Trifectas, Daily Doubles, and Pick 3s will be 12%, and the Pick 4, Pick 6, Place Pick All, Pick 9, Superfecta, and the Super Hi-5 will be 15%. These rates will take effect with the start of the Hollywood Park season on April 21 and last until January 1, 2012.
Kirk Breed, executive director of the CHRB, said at the conference "We used to be centered on the needs of the horsemen, at the expense of our gambling customers. Now, we will no longer turn a blind eye toward them. We hope these lowered rates will help bring California racing back from its current problems and into a period of success".
Vice Chairman David Israel commented "Last summer, I said that we were competing against professional sports, not against casinos and other tracks. That was the wrong attitude to take. While there will still be a focus on the local market, we have realized out main competition are places like the San Manuel Indian Bingo and Casino. We have gone onto the proper path now, and hope to stay on that path for years to come".
Trainer Jeff Mullins was also at the conference. He said, "If you don't take advantage of this deal while it lasts, you are an idiot".
