Woodbine Lowers Track Take Out

[Cangamble]

It is still an obscene 27%:

'Effective Wednesday, June 17, Woodbine Entertainment Group will reduce the takeout on its live thoroughbred and standardbred triactors to a total takeout of 27%, from 28.3%, when all of the mandatory regulatory deductions are included.

Unlike U.S. racetracks where taxes are primarily applied to winnings, Canada has its taxes applied as a percentage of wagering. More specifically, mandated regulatory deductions account for 6.8% of wagering or about 24% of Woodbine Entertainment Group's (WEG) total triactor takeouts, the majority of which is represented by the province's 4% Horse Improvement Program.

WEG's efforts to make its live race triactors more competitive by replacing this excessive pari-mutuel levy with a slots-based levy have been rejected by horsepeople's associations.

Simultaneously, in order to partially offset $1 million of new simulcast costs demanded by some Churchill and Magna controlled tracks, triactor takeout rates on these simulcast signals will increase to the same 27% total takeout including all mandatory deductions.

The tracks affected are Arlington Park, California thoroughbred tracks, Churchill Downs, Fair Grounds, Gulfstream Park, Oaklawn Park and Pimlico Racecourse. California regulations also mandate an additional 0.5% on their tri pools.'

http://www.standardbredcanada.ca/new...r-takeout.html




In other words, you can't be Tracknet tracks through HPI....ever.

[46zilzal]

Step in the right direction.

See you at Fort Erie...I will PM to find out how to contact you after June 21st

[Cangamble]

Originally Posted by 46zilzal

Step in the right direction.

See you at Fort Erie...I will PM to find out how to contact you after June 21st

Just let me know.

Here is my take on the takeout decrease:
http://cangamble.blogspot.com/2009/0...akeout-on.html

They just soared into a tie for 66th place from 68th.

[trying2win]

Originally Posted by Cangamble

Just let me know.

Here is my take on the takeout decrease:
http://cangamble.blogspot.com/2009/0...akeout-on.html

They just soared into a tie for 66th place from 68th.

Cangamble:

Thank you for the great article you wrote there on your blogspot. Right on! I love it when horseplayers will speak out on injustices to us bettors by some incompetent, sleazy, greedy racetrack executives or horsemen groups.

H.A.N.A. is a good voice for horseplayers, but in my opinion they are playing Mr. Nice Guy too much, and not enough Mr. Critical Guy of the racetracks and horsemen groups shafting us bettors. When H.A.N.A. starts portraying Mr. Critical Guy more often, that's when I'll sign up and send them a donation. Until then, it's boycott the excessive signal horsemen group tracks (that's causing reductions of my rebates more and more at places like PTC.), and boycott tracks with excessively high takeouts compared to the average. On the positive side, let us praise tracks like KEENELAND and TAMPA BAY DOWNS for actually doing something for horseplayers with their emphasis on lower takeout rates than the average.

We need more Howard Beale types to speak out, and better still to speak with their wallets, supporting the bettor-friendly tracks and boycotting the opposite kind of tracks. Bettors should realize more the clout they can have in bringing greater justice for them at racetracks across Canada and the U.S.

T2W
-----------------------------------------------------------------------
~"However beautiful the strategy, you should occasionally look at the results."

--Winston Churchill

[Jeff P]

Roulette has a much higher takeout/house edge than Blackjack or 21...

5.26 percent on a typical Roulette table compared to house edge as low as about 1 percent for the player employing basic strategy in 21.

Players are aware of differences in house edge between games. For that reason Roulette isn't nearly as popular a game and doesn't generate nearly as much revenue as Blackjack or 21 does.

I find it a really sad state of affairs when a headline reads: "Woodbine Lowers Takeout" and the takeout on a trifecta at Woodbine is STILL more than 5 times the takeout or house edge found on a typical Roulette table.


-jp

.

[Cangamble]

T2W, HANA would have no chance to get a seat at the table if they relied on my approach. That is just fact.

You should still join HANA, as it costs you nothing to do so, and the more numbers we have, the more powerful we become.

If we had a much larger membership, the tracks would be at our mercy. Right now, they aren't. But things have changed a bit since HANA began.

[rrbauer]

T2W: If you're not a HANA member, why? I agree that HANA's "Mr Nice Guy" image has to change. When we are being screwed, left and right, the appropriate response is not, "Please, pass the Vaseline!"

Everything that the racing associations and the horse owner groups can do to divert attention from customer issues to their own desperate (at their own making, I remind you) situations, they are doing.

Look at Kentucky. A little piss-ant state like Indiana and their slots, is the reason that Kentucky horse racing and breeding is in deep do-do? What we're seeing is the culmination of a lot of years of bad business decisions arriving at the brink of hysteria over getting the general public to bailout the industry. Skillfully masked as "entertainment" with a little juice here, and a little juice there, to give public credence to their backdoor entry into the general public's pockets. And, the irony is that the same legislators and same administration that are pushing for the gambling "fix" could just as easily approve money allocations from the general fund to the racing/breeding industry to see if that made any difference....and, at about 20-cents on the dollar of what the slots/casino remedy is going to deliver.

There's a lot of money to be made from the slots/casino remedy and I GUARANTEE you that most of it WILL NOT go into racing. It's a sad day when the people who are in charge are either too dumb; or, too deviant to deal with that reality.

[MakinItHappen]

Originally Posted by rrbauer

T2W: When we are being screwed, left and right, the appropriate response is not, "Please, pass the Vaseline!"

Good ANALogy, RRB!

Dang, I think I might have to adopt that as my signature line... or is it trademarked?

Best of Luck RRBAUER! Keep fighting the good fight!

MakinItHappen

[cj]

Screw Woodbine.

[cj]

Reading it again, I bet they are making more money raising the take on some American tracks than they think they are losing reducing the take at Woodbine.

[InsideThePylons-MW]

Originally Posted by cj

Reading it again, I bet they are making more money raising the take on some American tracks than they think they are losing reducing the take at Woodbine.

Exactly!

Lower the take 1.3% on Wdb

Raise the take 2% (for a total of up to 7%) on all NA simulcast signals.

Sickening!

[Cangamble]

Originally Posted by InsideThePylons-MW

Exactly!

Lower the take 1.3% on Wdb

Raise the take 2% (for a total of up to 7%) on all NA simulcast signals.

Sickening!

If a triactor pays $810 at Churchill, customers who bet through the Woodbine hub will get back $730 now.

[cj]

We used to make fun of Canadian currency and those quarters that wouldn't work in our vending machines. I guess now we have to change to the main race track since the money things isn't so funny any longer.