Takeout information is hard to find, but a new chart helps

Takeout information in horse racing is more difficult to find than it should be. It varies by state, by track and by wager. In addition, many racetracks do not publish takeout rates in an easily accessible location such as the racetrack website.

For tracks that do not publish their takeout rates on their wagering menus, some bettors may have the time or inclination to find takeout information in statues, regulatory publications or racing-board meeting minutes. But it is difficult for bettors to find the information they need to make educated decisions about where they can get the best value for their betting dollars.

As horse betting faces increased competition from sports betting, the availability of takeout information is more crucial than ever. After all, on many sports bets, identifying the hold on a fixed-odds sports bet is easier to do. Even casual sports bettors typically know that in a match-up between two teams, -110 on both teams means a theoretical hold of about 5 percent.

However, calculating the takeout becomes more difficult with more betting interests in a race. A win pool with 10 or 12 horses makes it more complex. Exotic pools with hundreds or even thousands of possible combinations would make it even more complicated to calculate if the possible payouts were all published, and it is impossible for bettors to calculate since that information is impractical to disseminate. Each pool at each track has a set takeout percentage based on the type of wager. But bettors are left guessing if they play tracks that do not make that percentage readily available.

Players who want to find out the takeout on their favorite tracks or bets, or who want to adjust their action based on the takeout rates, have a new resource to guide them thanks to horseplayer and horseplayers' advocate Christopher Larmey.

Larmey is a member of the NHC Hall of Fame and the chairman of the NHC Players Committee. He has compiled a chart of takeout rates at tracks across North America. The chart also covers pools for overseas racing including Australia, Dubai, Hong Kong, Ireland, Japan, Saudi Arabia and the United Kingdom.

The takeout chart was updated most recently in May. It compiles the takeout rates by pool at each of the tracks, with color codes to highlight low or high rates for each wager and notes on whether Pick 5 or Pick 6 bets have jackpot requirements. It also notes recent changes that tracks have made to lower or raise takeout rates.

For bettors who want to shop around for the lowest takeout, the best track to follow and bet can vary based on the bets a player prefers to play. After all, choosing the most profitable bet is a balance between minimizing takeout, playing wagers that suit a player's handicapping style the best and playing circuits that a handicapper knows well enough to formulate good opinions. But even in terms of takeout rates alone, tracks stand out with their offerings on different wagers.

In terms of straight win, place and show wagers, takeout ranges from 12 percent to 20.75 percent. Hawthorne lowered takeout on these bets to 12 percent in 2023, the lowest rate available on straight wagers. Other pools among the lowest straight-wager takeout include Assiniboia (14.65 percent), Hastings (15 percent) and French racing (15.05 percent). Next in line are California tracks Del Mar, Golden Gate, Los Alamitos and Santa Anita, all of which offer 15.43 percent takeout on win, place and show bets.

The takeout window on exotic wagers tends to range higher than that in straight pools, though Larmey's chart points out several tracks with offerings that should attract bettors who want to minimize takeout.

The exotics with the lowest takeout are in multi-race pools. Emerald Downs cut takeout on daily double and Pick 3 bets to 10 percent, and Canterbury Park offers a 10 percent takeout on Pick 4 and Pick 5 wagers. These are the lowest takeout rates on horse-racing wagers available through American tracks.

Several tracks offer a selection of 12 percent takeout wagers. Sam Houston offers that rate on all multi-race bets: daily double, Pick 3, Pick 4, Pick 5 and Pick 6, though the Pick 6 does have a jackpot rule. Pick 5 wagers with 12 percent takeout also are available at Colonial Downs, Charles Town, Horseshoe Indianapolis, Lone Star and Maryland Jockey Club tracks. Charles Town and Lone Star also offer a 12 percent Pick 6, though Charles Town's has a jackpot as well. Players concerned about takeout often avoid jackpot pools because the entire field does not pay out unless there is a unique ticket.

From a takeout perspective, bargains are harder to find for players who prefer betting single-race exotics. The take on exacta bets ranges from 18.5 percent to 30 percent, with the NYRA tracks offering the lowest rate. Trifecta and superfecta takeout ranges from 20 percent to 31 percent, with Kentucky Downs and Prairie Meadows setting the floor in both of those pools.