If you’re a longtime bettor, you know that the track has a take out, a percentage they take out of each bet. At some tracks, the takeout is as high as 21% on trifectas and other exotic bets, while lower on win, place, show and quiniela bets. At other tracks, Twin Rivers used to be one before it closed, the takeout is the same for all bets. This can make a big difference over the course of a bettor’s wins and losses at the track through the years.
Look at it this way, if the track takes out .20 for every dollar you win, you’re only winning .80 per dollar and losing $20 on every hundred dollars you win. That’s something you have to take into consideration every time you bet. In order just to break even, you have to make $1.20 on every dollar you bet. That’s why greyhound handicapping is an uphill battle. There are plenty of other forms of wagering that don’t have the takeout that greyhound racing does.
So, next time you go to the window, keep in mind that you’re betting against stacked odds. Only if you can consistently earn back more than $1.20 for every dollar you bet (or whatever the takeout is at your track), will you make money at the track. Sometimes the takeout amount is printed in the program or on the website, but if it isn’t, ask your track manager to tell you what it is on each type of bet.
At my favorite track, quinielas have a lower takeout than trifectas, so that’s what I play the most. Then too, you have to figure that a decent handicapper can hit more quinielas than trifectas, so you get a better return on your money right there.