The average bettor probably doesn’t realize it, but every time he or she places a bet, be it a win, place or show, a daily double, exacta or any other multi-horse wager, the racetrack lifts a percentage of the money. It’s called “takeout,” and the amount, especially for multi-horse wagers, has been a very contentious subject among big bettors in recent months.
Right now, the win, place and show takeout is 15.43 percent. The takeout for a two-horse bets like daily doubles, exactas and quinellas was set by state Legislation and the California Horse Racing Board at 22.68 percent. The takeout for trifectas, superfectas, Super Hi 5s, Pick 3s, Pick 4s and Pick 6s is 23.68 percent, also set by the Legislature and rubber-stamped by the CHRB. The takeout for Pick 5s is the lowest at 14 percent.
On Jan. 1, the California legislation required an increase in takeout on exotic wagers. That caused the Horse Players Association of North America to call for a boycott on betting on all California racing. HANA argued that the public’s share of the betting dollar was reduced so purses could be increased, and that it was unfair to bettors.
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