Quote:
|
Originally Posted by InsideThePylons-MW
Read the article and not really sure how it works because if they explained it right, it's not a reduction in takeout but a bonus on winners.
If there is $200 winning dollars on a winning combo and $150 of it is bet on track, then winning payouts would not increase by 10%. If it does, then it's much more than 10% in that scenario.
|
This is what net-pool pricing is all about. It allows jurisdictions to use different takeout rates while commingling in the same common pool.
Let's say, for simplicity's sake, that there's $10,000 total in the exacta pool. Let's also say that there's $5,000 in exacta wagers and $200 worth of winning tickets on-track, and another $5,000 in exacta wagers and $200 worth of winning tickets off-site.
The on-site wagers, after deducting the 10% takeout, yield $4,500 in net wagers and $180 worth of net winning tickets. The off-site wagers, after deducting 19% takeout, yield $4,050 in net wagers and $162 in net winning tickets. Total NET winning wagers: $342. Total NET wagers: $8,550.
Price calc: $8,550 / $342 = $25 per NET $1 wagered. The math works out really cleanly, but that's just a coincidence.
Okay, now to convert back to the price you get paid at the window.
Off-site: $25 x (1 - 0.19) x 2 = $40.50.
On-site: $25 x (1 - 0.10) x 2 = $45.00.
The off-site payout is 10% lower than the on-site.
- InTheRiver68
