Keeneland raises takeout across the board

Keeneland raises takeout across the board

Postby With Anticipation » Tue Aug 08, 2017 12:23 pm

Keeneland Racecourse will raise its takeout for the October meet from 16 percent to 17.5 percent on win, place, and show wagers and from 19 percent to 22 percent on all other bets, the maximum allowed under state law, Keeneland officials confirmed on Tuesday.

Bob Elliston, Keeneland’s vice president of racing and sales, said on Tuesday that Keeneland has already informed the Kentucky Horse Racing Commission that it intends to exercise its right to raise the takeout rates for its fall meet, which is scheduled for Oct. 6-28. Elliston said that Keeneland plans to use the additional money to boost its purses, and that the new rates would be competitive with the blended takeout rates at tracks on other major circuits.

Kentucky law allows any track that handles below an average of $1.2 million a day on-track to adopt the higher takeout rates. On-track handle at Keeneland has averaged below the threshold for several years, according to KHRC records.

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