Keeneland to reduce pari-mutuel takeout rates on win, place, show, exacta wagers

Feb 8, 2018 9:41 AM

Horseplayers spoke and apparently Keeneland officials listened announcing Tuesday that the track will reduce pari-mutuel takeout rates on win, place, show and exacta wagers for its 2018 Spring Meet, set for April 6-27.

Takeout on win, place and show wagers will decrease from 17.5 percent to 16 percent and from 22 percent to 19.5 percent on exactas. Takeout for the Pick Five continues at 15 percent. Takeout for all other exotic wagers will remain at 22 percent.

“Keeneland's goals are mission-oriented, and we continually review, measure and listen to our customers across all business lines to ensure our operations promote the health and vibrancy of the horse industry,” Keeneland Vice President of Racing and Sales Bob Elliston said.

Takeout increases for the track’s Fall Meet met with disapproval from bettors nationwide. Keeneland’s Fall Meet generated an 8.4 percent all-sources handle decrease on its races to $121,712,035 for the 17-day meeting ending Oct. 28. The Lexington-area oval’s on-track numbers were down 0.1 percent from last year to $17,597,035. Handle at Kentucky simulcast outlets were off about 2 percent and retail advance-deposit wagering outlets decreased about 3 percent.