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Back in 2011 when the low takeout P5 was put in California one of the selling points was that it would get gamblers on the east coast involved in the card AND that it would raise handle on the vertical wagers within the sequence. What's remarkable to me is that innovative tracks/jurisdictions have figured out that breaking even, or close to it is worth it because of the money they make on the vertical wagers within the sequence. And California never got their shit together and expanded with more low take wagers.
Racing has to lower take and breakage on high churn wagers like WPS and Exactas to get some churn going. There is less churn than ever in the history of horse racing because of the low take horizontals.
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