TAKEOUT RATES for over 120 Cdn, USA and Int'n Race Tracks

[EagleEye Po]

TAKEOUT RATES for over 120 Cdn, USA and Int'n Race Tracks highlighting the inherent competitive statistical disadvantage Canadians face because #Woodbine increases the takeout on USA pools-thereby depriving Canadians of a REAL and FAIR pari-mutuel gambling game.

[therussmeister]

I always assumed Canada has a federal pari-mutuel tax to compensate for the lack of income tax on gambling winnings, and the increased takeout is the federal pari-mutuel tax.
Theoretically, as a person who pays income tax on gambling winnings yearly, I'd prefer the Canadian model. However I'd be afraid there would be bilateral support for increasing the pari-mutuel tax at every budget debate.

Various state income tax laws put individuals at a competitive advantage, or disadvantage against bettors from other states. As does the decision to not fully comply with state and federal income tax laws.

[lamboguy]

when you look at these rates you know why it's so tough to win at this game even after the rebates.

[EagleEye Po]

Originally Posted by therussmeister

I always assumed Canada has a federal pari-mutuel tax to compensate for the lack of income tax on gambling winnings, and the increased takeout is the federal pari-mutuel tax.
Theoretically, as a person who pays income tax on gambling winnings yearly, I'd prefer the Canadian model. However I'd be afraid there would be bilateral support for increasing the pari-mutuel tax at every budget debate.

Various state income tax laws put individuals at a competitive advantage, or disadvantage against bettors from other states. As does the decision to not fully comply with state and federal income tax laws.

I think a lot of people make that assumption Russ. In fact it is a private corporation that is abusing their Canadian monopoly and taking money out of the pockets of Canadians who cash winning tickets. In actuality they have created a new game, but it cannot be called a 'pari-mutuel' game.

[lamboguy]

my question is that the higher red numbers in place and show ranges are only in some tracks, why is that?

[EagleEye Po]

Originally Posted by lamboguy

my question is that the higher red numbers in place and show ranges are only in some tracks, why is that?

Any track under 18% was increased to 18, with the exception of CA.
Any track 18% or higher was not increased. I am not aware of their rational.

[mike_123_ca]

Originally Posted by lamboguy

my question is that the higher red numbers in place and show ranges are only in some tracks, why is that?

It may have something to do with the breakage rule with WIN bets in Canada, where as it is rounded down to the nearest 10 cents. You will find that WIN bets placed in Canada on USA tracks occasionally pay an extra 10 cents if the host USA track breaks to the nearest 20 cents. I suspect the higher takeout on PS bets on some tracks compensates for the higher payouts on WIN wagers.

[lamboguy]

Originally Posted by EagleEye Po

Any track under 18% was increased to 18, with the exception of CA.
Any track 18% or higher was not increased. I am not aware of their rational.

there is no rational on anything in the racing game.. this is like playing in a raked poker game, you play long enough the house gets all the money!

[EagleEye Po]

Originally Posted by mike_123_ca

It may have something to do with the breakage rule with WIN bets in Canada, where as it is rounded down to the nearest 10 cents. You will find that WIN bets placed in Canada on USA tracks occasionally pay an extra 10 cents if the host USA track breaks to the nearest 20 cents. I suspect the higher takeout on PS bets on some tracks compensates for the higher payouts on WIN wagers.

Mike you are correct that breakage in Canada is different as we break to $.05 and the US is $.10. At the same time and as a result of our breakage rule the minimum wager amount in Canada is $.20. But ultimately Woodbine raises the takeout on foreign tracks because they have a Canadian monopoly and the Canadian pari-mutuel regulator (CPMA) has allowed them to do so. Hopefully this scheme is nearing its end as the CPMA has come to understand that the raising of the takeout in Canada creates a statistical competitive disadvantage for Canadian pari-mutuel gamblers.