Racetrack officials have announced that in order to give their customers greater value for their wagering dollar, takeout rates will be reduced in advance of an upcoming meet of live racing.
Canterbury Park, the Thoroughbred raceway in Minnesota, has announced that it wants to become “the most horseplayer-friendly racetrack in America,” according Eric Halstrom, who is the track’s vice president of racing operations.
The track is set to kick off its 69-date live meet on May 20. Officials have stated, via release, that once the takeout reduction is in effect, the track will offer a wagering product that is ‘priced lower, on average, than any track in the country.’
For the upcoming meet, Win, Place, and Show takeout will be set at 15 per cent, while the takeout rate on all exotic wagers will be 18 per cent.
“With the growth in the quality of our racing program we, with the support of our horsemen, are taking the next step and making our races the most profitable wagering opportunity,” Halstrom said. “By changing our takeout to the lowest in the United States, we’re giving horseplayers worldwide great value and drawing attention to what is sure to be the finest racing season in Minnesota history.”
The track has stated that the restructuring of the takeout rates is set to be discussed by the Minnesota Racing Commission on April 21.
(With files from Canterbury Park)