Horse Racing News is the source of thoroughbred racing information with horse racing odds, betting tips, racing picks, race results, and handicapping. Latest news and articles on top horse racing contenders, jockeys, trainers, three-year-olds, race tracks, and major stakes races such as the Triple Crown races: the Kentucky Derby, Preakness and Belmont Stakes as well as the Breeders' Cup horse races.Ellis Park drops Pick4 takeout to 4%
Posted on Monday, July 9th, 2007
This 2007 Summer horse racing season bodes well for aficionados at Ellis Park racetrack – they recently dropped the track takeout on the Pick 4 (Pick Four or Pick4) horse wagers to only four percent (4%). The normal withholding on this wager at the majority of American racetracks is 25 percent. Some quotes from John Pricci’s observation that Ellis Park is leading a revolution by serving the needs of it’s horse betting customers.
For the first time ever, horseplayers now have a positive expectation on their investment. The bet is the universally popular Pick Four. The spin is a four percent takeout. To repeat, a four percent takeout!
The Pick Four pool at Ellis opening day was $19,975, nearly 10 percent higher than last year???s average without benefit of pre-publicity and against major top-tier competition. Maybe there is, after all, something to the economic notion that a free market will determine the point at which supply meets demand to maximize profits.
Here???s another way of looking at the wager. Unlike betting to win, the parimutuel takeout, about 17 percent in many major jurisdictions, is extracted each time a win bet is placed. In inter-race wagers like the daily double or Pick Four, takeout is extracted once.
This makes the effective takeout rate on the Ellis Park Pick Four one percent per race. Now, if your handicapping is skilled enough to safely eliminate one 30-1 shot per race (on balance, a 30-1 has about a three percent chance to win), you have an expected positive return of two percent per race or eight percent for entire sequence. Think of it as free money. full story
You can bet on Ellis Park races online. Also, free Ellis park tips and picks.
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"Ellis Park drops Pick4 takeout to 4%" was posted on Monday, July 9th, 2007 at 11:16 am and is filed under Ellis Park, USA Horse Racing. You can follow any responses to this entry through the RSS 2.0 feed. Leave a response, or trackback from your own site.
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