On Thursday, April 11 the Woodbine Entertainment Group announced that effective Saturday, April 20, the launch of its 133-date 2013 live thoroughbred racing season, Woodbine will offer a Win takeout of 14.95 per cent, the lowest in North America.
“We have to continue to take care of the loyal horse-playing customer and this is a great way to do it,” said Greg Martin, WEG's director of Wagering Operations. “The Win bet is our most popular wager and reducing that takeout by two per cent will financially benefit most horseplayers, from the sophisticated fan to the novice.”
Takeout is the amount of money kept by the track before winning bettors are paid. The cut in that percentage will increase payouts and allow more 'churn' of the betting dollar. The more money returned on the winning bet, the more money, subsequently, the player can play with, increasing betting volume or handle.
In addition to this takeout announcement, WEG will guarantee the early Pick-4 pool at $100,000 on weekend afternoons and will offer the 20-cent bet minimums on all Triactor, Pick 3, Pick 4 and Superfecta pools during the live thoroughbred racing season.
“The average payouts on Woodbine races have typically been one of the highest in the industry,” said Martin. “These initiatives over the 133-day racing calendar will provide even better value for bettors.”
Live thoroughbred racing at Woodbine is scheduled for 1:00 p.m. every Friday, Saturday, Sunday and Holiday Monday (May 20, July 1, August 5, September 2 and October 14).
Wednesday night racing will begin on June 5 and be conducted throughout the season, except the Wednesdays after the Holiday Monday (July 3, August 7, September 4 and October 16) and will have a first-race post time of 6:45 p.m.
(WEG)