Thursday, December 15, 2011 12:00 AM
FLORENCE, Ky., Dec. 15, 2011 – The Kentucky Horse Racing Commission has approved Turfway Park's request to lower takeout on its Pick 4 wager from 22 percent to 14 percent, effective January 1.
The approval was given at the Commission’s regular meeting on Dec. 14.
"Turfway's existing takeout rates for win, place, show and exotic wagers already rank within the lowest third of racetracks in the U.S.," said Turfway Park president and CEO Robert N. Elliston. "This reduction further illustrates our commitment to the horseplayers who invest in racing and drive our business."
The Pick 4 wager requires bettors to select the winners of four consecutive races designated by the track. Depending on the day of the week, Turfway presents nine, 10 or 12 races per card, giving handicappers two or three Pick 4 wagering opportunities each racing program. The minimum Pick 4 wager at Turfway is 50 cents.
Takeout is the amount deducted by the track from each wager to cover taxes, purses, and operational expenses. Turfway Park's takeout on win, place and show wagers is 17.5 percent. On all exotic wagers except the Pick 4, the takeout is 22 percent.