What was the Takeout in the Golden Age for Horse Racing?

[The_Knight_Sky]

Originally Posted by csperberg

1963 SI article about take out and horseplayers.

Maybe some will find it an interesting read
http://sportsillustrated.cnn.com/vau...ndex.htmAugust

Thanks Mac.

Something tells me CanGamble is hard at work on his next blog post.

[takeout]

Originally Posted by DeanT

When it started in around 1910 it was 5%.

I don’t see why that should have ever changed.

The only thing that should have changed between then and now is that breakage should have been done away with decades ago.

[JohnGalt1]

Just think----

In 40 years, 2001-2011 will be the good old days.

[Horseplayersbet.com]

Originally Posted by JohnGalt1

Just think----

In 40 years, 2001-2011 will be the good old days.

I think we hit the peak of takeout hikes. I can't see any other track trying it with what happened in California.
We should see an tendency from here on in to drop the takeout.
If I'm wrong, 25 years from now, there will be only robot horses running around the track, takeout will be much lower, trainers will be replaced by computer programmers, robots will be track owned, and bettors will be complaining about day of race battery changes.

[thaskalos]

Originally Posted by Horseplayersbet.com

I think we hit the peak of takeout hikes. I can't see any other track trying it with what happened in California.
We should see an tendency from here on in to drop the takeout.

You wanna bet?

Where are they going to get the money to maintain their current purse structures, if the mutuel pools continue to decline?

You don't think that the horsemen will be inclined to take a pay cut, do you?

[acorn54]

well hana has done research on the ideal take out and found out it is around ten percent if memory serves me
that means that the maximum money bet is reached in combination with financing a healthy racing industry.

[thaskalos]

Originally Posted by acorn54

well hana has done research on the ideal take out and found out it is around ten percent if memory serves me
that means that the maximum money bet is reached in combination with financing a healthy racing industry.

Ahh...ok...my fears are at rest now.

[highnote]

I love this line from the SI article:

"Racegoers may well be the most put-upon and the least represented of groups. "

A group of horseplayers from Paceadvantage, myself included, got together here in the War Room and got Mike from PA to give us a section on this site with the intention of giving horseplayers representation. HANA is long overdue.

Here is the entire paragraph...

Racegoers may well be the most put-upon and the least represented of groups. Last winter a good race writer, discussing a proposal for the conduct of racing and an increased take, said that "for once all parties concerned" were in favor. He listed the parties, and nowhere was there a mention of the most numerous—and financially most indispensable—party: those whose dollars keep the totalizer flickering. The Jockey Club and tracks, stockholders, management, state commissions and their association, officials, horse owners and trainers, riders, jockeys' agents, veterinarians, farriers, mutuel clerks, stable help, concessionaires, cooks, waiters, janitors, charwomen—all these sometimes speak and sometimes act in their own interest. But not the vast, miscellaneous, disorganized racegoers—33,073,712 last year—on whose patronage the well-being of the others depends.

[captainhot]

Fascinating article from 1963. I'm reminded of Santayana's famous quote, "Those who do not remember the past are condemned to repeat it."

[The_Knight_Sky]

Originally Posted by The_Knight_Sky

Thanks Mac.

Something tells me CanGamble is hard at work on his next blog post.

If only my instincts were this good at the track.


Anti-Gambling Groups Were All For Takeout Hikes
by CanGamble blog


It is kind of interesting that Hammond states that takeout was a secret from the 1940's to the early 60's. Again, pointing out the number doesn't stop a player from playing in most cases.....if the takeout number is high though, it stops the player from playing in the future, or at least really slows the player down.

Some track takeouts from 1963:
Maryland 13% (increased from 12% in 1962)
Kentucky 14%
New York 15% (no increase since the big one in 1946)
Florida 15%

The thing that really is kind of mind blowing is the percentage the State took. In New York, two thirds of the money collected as takeout went to the government. In Maryland and Kentucky, the percentage of takeout going to government was between 28 and 35%. Those numbers are huge in comparison of what government receive today.

Tracks generally existed on 2-4% of total takeout, while purse accounts were funded with 2-4% of the takeout.