Plainridge to lower takeout; charge ADWs more
March 21, 2011
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Plainridge Racecourse has announced its takeout rate on all wagers will be lowered to 15 percent for the 2011 season. General manager Steve O'Toole said, "It's time bettors across America get a better return on investment. We feel by lowering our takeout to 15 percent on win, place, show and all exotics bets it will keep the average guy in the game a lot longer."
In addition, the live Plainridge signal will be sold at the nominal fee of 1 percent to all racetracks offering live racing, including outlets which they own or control. Independent outlets and tracks with no live racing will be charged 8 percent. To bolster purses, the horsemen's purse account at Plainridge will receive half of those fees.
"We are tired of 8x10 offices equipped with just a phone line and computer pillaging horsemen and racetrack revenues," said Plainridge President Gary Piontkowski, adding, "It is time someone stood up to these fly by night operators who are making millions on the backs of horsemen's and racetrack operations."
The Plainridge Racecourse meeting is scheduled to begin on May 16, racing Mondays and Tuesdays at 4:00 p.m. in May and June before expanding the schedule in the summer months. (Plainridge)