http://www.horseraceinsider.com/The-...to-del-diavolo
Excerpt:
They write about takeout (concerning the tote system), about overround (concerning the bookmaking industry) and, recently, they talk about the wagering exchanges, very often without even knowing what this
“instrument of the devil” is.
In addition to thinking about takeout, every North American racetrack that’s applying a takeout should consider the correct proportion between simple and exotic bets in order to create the maximum possible churn. Every track must satisfy the needs of the bettors as well as horsemen (prize money) and those of the State. This is a very complicated exercise: tracks that manage this “trick” properly succeed; those that don’t won’t succeed.
http://www.horseraceinsider.com/The-...to-del-diavolo
