Well,at least we know where Jay Hovdey stands politically.
“When I first heard about the takeout increase I said, ‘Man, this ain’t the time for that,’ ” said Mike Pegram, who made his fortune in McDonald’s franchises. “But sometimes it’s a matter of survival. I’m in a very price-sensitive business, and I never raise prices until I have to. This was a matter of survival.”
Follow up question.When is the right time to increase takeout Mike?
If parimutuel takeout is raised, purses will increase. When purses increase, more owners will be inclined to continue owning and racing horses. When that happens, field sizes will increase, and the betting on those larger fields will increase, which will result in larger purses. Then, eventually the national economy will turn around, and
takeout can be lowered to previous levels. 
