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Originally Posted by Flysofree
If this is correct, I will give up wagering online with Twinspires. I'm referring to paying .20 cents extra for a $2.00 win bet.. That is truly beyond absurd.
Say it ain't so...Maybe they will wake up.
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It doesn't cost you anything. Virginia's 10% is taken is taken out of the ADW's cut. So, assuming a 20% takeout and a 6% signal fee, Virginia horsemen get 10% (through the various organizations), the track gets 6%, and the ADW is left with 4% for all wagers placed by Virginia customers.
I object to the notion that Virginia horsemen, who run no races currently, and only ran a few weeks all along, get the majority of the money for doing essentially nothing. Subsidies like this screw up the economics of the game, and there are side-effects.
The smaller ADWs won't take Virginia customers, and the larger ones aren't at all happy about the tax. That's why Colonial disappeared from TVG and HRTV some years ago. The ADWs weren't interested in promoting Colonial when they get such a small cut.
It's also why Colonial had so little interest in running races in recent years, as they made more money by not racing and just collecting their cut. This was the cause of all the problems last year.
