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                      -- Canterbury to cut takeout

"Takeout rates across all pools will be simplified and reduced by about 20 percent at Canterbury Park this season, giving the track the lowest rates in the whole of America, Eric Halstrom, VP of Racing Operations, and Randy Sampson, President and CEO, jointly announced today.

The move applies to Canterbury Park’s entire 69-day Thoroughbred and Quarter Horse race meet this year. Straight wagers on Win, Place and Show (WPS) betting will be the lowest in the country at 15 percent. All other exotic wagers will have a takeout rate of 18 percent.

This is a bold and dramatic move that deserves the attention and bankroll of all Thoroughbred racing bettors."

"California racing let a huge opportunity slip away this week. An industry that has struggled mightily since increasing takeout in 2011 let tiny Canterbury Park in Minnesota walk away with tons of positive publicity by showing it cares about its customers.

In case you missed it, Canterbury reduced pari-mutuel takeout by about 20 percent for its upcoming 69-day thoroughbred and quarter-horse meet that begins next month. Win-place-show wagers will carry a 15 percent takeout – the lowest in the country. All exotic wagers, including daily doubles, exactas, trifectas and superfectas, will have a takeout rate of 18 percent.

Yes, takeout for win-place-show wagers at Santa Anita, Del Mar and Los Alamitos is where it should be, 15.43 percent, but the takeout for exotic wagers – 22.68 percent for exactas and 23.68 percent for tris and supers – is ridiculously high when compared to other tracks.

Santa Anita, Del Mar and Los Alamitos continue to slump at the betting windows and sit back and do nothing about it. The California Horse Racing Board and Thoroughbred Owners of California sit back and watch a struggling sport continue to spiral downward.

The thought that race-day concerts and beerfests in the infield are going to magically increase handle is nonsense. What's going to increase handle is putting more money in the bettors' pockets. The way to do that is lower takeout. If I can grasp that concept, anybody can. It's not rocket science."