Keeneland officials announced today that the track will reduce pari-mutuel takeout rates on win, place, show and exacta wagers for its 2018 Spring Meet, to be held April 6-27.
Pricing 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 will be 15 percent. Takeout for all other exotic wagers will remain at 22 percent.
Takeout rates at Keeneland will be among the lowest in North America according to comparative rates published by the Horseplayers Association of North America (HANA). For the 2018 Spring Meet, Keeneland takeout ranks second-lowest for exacta wagers and third-lowest for win, place and show among major North American race tracks.
“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. “The changes to takeout last fall were aimed at further enhancing the quality of our racing program. We were successful in that goal and will offer a season record $4.4 million in stakes purses this spring.
“Higher wagering also generates purse money, and we believe these takeout rates strike a competitive balance to which our customers will respond favorably,” Elliston said. “We targeted win, place and show and exacta wagers because they make up nearly 60 percent of our total wagers.”
The lowered takeout rates are the first of several new and enhanced handicapping initiatives planned for the 2018 Spring Meet to be announced by Keeneland in the upcoming weeks.